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New banking option checks into campus

Joe Podelco / Lantern photographer

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A new KeyBank branch is the first addition to the three vacant buildings of the former String Shoppe on Ohio State’s campus.

Located at 1710 N. High St., KeyBank opened their first branch at OSU on Aug. 22, Melissa Ingwersen, KeyBank’s Columbus district president said.

Adam McMahan, a relationship manager for KeyBank, said he was excited about the location of the new bank.

“We’re pumped about the new branch on campus. We can finally be connected to the university and OSU’s students,” McMahan said. “We opened right when we planned and we’re very excited about the location being right across the street from the student union.”

KeyBank is a long-time corporate partner with OSU, Ingwersen said. KeyBank hopes the new branch will be more convenient for students, she said.

The former String Shoppe was split into three lots to be leased and KeyBank, being the first to step in, took the middle lot, said Zachary Schiff, fourth-year in communication and son of landlord Scott Schiff.

“KeyBank is who you look for when you’re doing real estate,” Zachary Schiff said. “We won’t have to worry about them paying rent every month and hopefully they’ll be a good tenant for a long time.”

The new branch could also brew some competition because it’s opening next door to a Chase Bank branch.

Chase offers special promotions for those opening a new account with them. For example, they will match the first $100 deposit by any new member.

“Key absolutely has a few promotions coming up,” McMahan said. “I expect them to start up once campus picks up, around late September, early October.”

McMahan did not know specifically what promotions they will offer.

KeyBank will also help account-holding students with financial planning upon getting a first job out of college, McMahan said.

Prior to the opening of the High Street branch, the closest branch to campus was downtown, making it a hassle for some who live on campus to manage their accounts.

“To go to the bank, I used to have to plan around my classes to drive there and find parking for something that doesn’t take too long,” said Ryan Cook, a second-year in business. “A few of my friends and I are excited for the new bank. There’s no gas necessary because it’s within walking distance.”

Chase Bank declined to comment.

Danielle Hixenbaugh contributed to this story.

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