The Portland State University administration has entered into a five year contract with Higher One, a startup financial services broker in New Haven, CT, to outsource financial aid disbursements and student identifications.
PSU students were completely left out of a decision making process that turned over a students identification, complete with social security number and digital picture, to this out of state company. With only 3 local ATM machines to avoid a $1.50 fee for ATM withdrawls, a $0.50 pin transaction fee for using the debit function at retailers, and a host of other fees that average a 94% higher fee structure than banks located here in Portland, HigherOne is now locked into profiteering at the expense of PSU students.
HigherOne utilizes the services of Horizon Capital Bank, a Webster, TX based bank that according to their website gives back to their community - in Texas.
There are no local branches and phone support is only available from 8am to 8pm Mon-Fri EST. PSU is the largest and most diverse university in Oregon with some 24,000 students, yet HigherOne provides their information in one language - English.
These are state and federal funds being funneled through two companies to the extreme east and south of our country, yet the PSU Adminstration consistently stands behind their motto of "Let Knowledge Serve the City." Come join us at 1825 SW Broadway at Noon, write the PSU Administration and express your concerns, and spread the word.