After a year delay, M&T Bank will replace Stamp’s Capital One

A replacement bank for The Capital One in Stamp was expected to open in early fall of 2018. (Evan Kramer/The Diamondback)

Stamp Student Union announced Wednesday that M&T Bank will open a branch on the building’s ground floor and five ATMs across campus later this year, according to a news release.

This Stamp location used to host a walk-in Capital One bank, which left last year because it no longer offered services the University of Maryland required, such as safe deposit boxes and foreign currency exchange.

The space has been empty for over a year. The Capital One bank branch closed Aug. 17, 2018, after reaching the end of its five-year contract with this university. A new bank was expected to be announced in the early fall of 2018.

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The process took “longer than initially anticipated,” Stamp director Marsha Guenzler-Stevens said in a November 2018 email.

While Capital One ATMs at Maryland Stadium and Xfinity Center will not be replaced due to a naming rights agreement with this university, Guenzler-Stevens confirmed in July 2018 that the new bank — which had not been announced at that point — would replace ATMs within The Clarice Smith Performing Arts Center and outside Stamp, Ellicott Hall and South Campus Dining Hall.

The press release also announced that M&T Bank will offer additional resources on Stamp’s second floor. The agreement will include a sponsorship from the bank that will offer financial information to the campus community in the Harriet Tubman Conference Room, according to the release.

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Additionally, the bank will support various Leadership and Community Service Learning programs on campus, such as Partners in Print and America Reads, America Counts.

“We are pleased to add M&T Bank and their employees into our midst and to have them support the financial literacy and services of our campus community,” Guenzler-Stevens said in the release.

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