Bank Rhode Island Creates CampusMate-TM- Division.Business Editors PROVIDENCE Providence, city (1990 pop. 160,728), state capital and seat of Providence co., NE R.I., a port at the head of Providence Bay; founded by Roger Williams 1636, inc. as a city 1832. , R.I.--(BUSINESS WIRE)--July 18, 2002 Bank Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. announced today that it has created a CampusMate(TM) Division to support its innovative new product that links all of a student's banking and school-based accounts, making financial management easier for students, parents and college administrators. The new CampusMate Division will manage the implementation of the program at participating schools and will market CampusMate to other colleges and universities. The Division also will develop licensing programs for other banking institutions. CampusMate is currently in use at Rhode Island School of Design Rhode Island School of Design (RISD) One of the most eminent fine arts colleges in the U.S., located in Providence, R.I. It was founded in 1877 but did not offer college-level instruction until 1932. and Johnson & Wales Wales, Welsh Cymru, western peninsula and political division (principality) of Great Britain (1991 pop. 2,798,200), 8,016 sq mi (20,761 sq km), west of England; politically united with England since 1536. The capital is Cardiff. University. The Bank has assembled as·sem·ble v. as·sem·bled, as·sem·bling, as·sem·bles v.tr. 1. To bring or call together into a group or whole: assembled the jury. 2. a team of senior-level professionals to head the Division. Each has extensive banking and marketing experience at some of the largest financial institutions in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. . Patricia Hanratty, who had been working as a consultant on the program since last year, has been named President of the CampusMate Division. Ms. Hanratty has more than 20 years of banking and finance experience, including a wide variety of leadership positions at Fleet. She was responsible for building, growing and managing major segments of Fleet Bank's small business division and also served as Executive Vice President and a Director of Fleet's Community Development Corporation. Her career also has spanned the public sector and academia. She served as Assistant Secretary of Economic Affairs and Director of the Industrial Services Program for the Commonwealth of Massachusetts. She also was an Assistant Professor at the College of the Holy Cross The College of the Holy Cross is an exclusively undergraduate Roman Catholic liberal arts college located in Worcester, Massachusetts, USA. Holy Cross is the oldest Roman Catholic college in New England and one of the oldest in the United States. . Alan L. Lehmann, who recently joined the Bank, was named Director, Sales & Marketing. Mr. Lehmann has held a variety of senior level product marketing and internet strategy positions at BayBank, BankBoston and Fleet. Most recently, Mr. Lehmann was Senior Vice President of Fleet's Global Internet Strategy Group. He also served as Marketing Director of BankBoston's $350 million credit card portfolio and BankBoston/BayBank's $1.6 billion indirect auto portfolio. He was responsible for developing BankBoston's first online account-opening capability for credit cards. Raymond K. Antonio, who joined the Bank late last year, was named Director, Systems and Operations. Mr. Antonio has significant bank operations experience, including branch operations positions with Old Stone Bank and Citizens Bank in Providence. Most recently, he has worked as an independent financial industry consultant, focusing on product development and implementation, profitability analysis and project management. "This Division will allow us to fully develop and market the program independent of our core banking business," said Company President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Merrill W. Sherman, who also will serve as CEO of the CampusMate Division. "Pat has been instrumental in bringing CampusMate to market and Alan and Ray bring a wealth of operational and marketing expertise." What makes the patent-pending CampusMate program unique is that it ties electronic funding mechanisms directly into the school's financial systems. The school gets fast, automatic deposits, electronic tracking and automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. reports that can be sorted by account, student or transaction. Add to that the companion online student banking account, complete with a MasterCard(R) Debit Card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. , with ATM access and check writing ability, and parents can take care of all a student's financial needs through automatic bank transfers or by credit card. Bank Rhode Island, a wholly-owned subsidiary of Bancorp Rhode Island, Inc., is a full-service, FDIC-insured financial institution headquartered in Providence. As of June 30, 2002, Bancorp Rhode Island's total assets stood at $944.0 million and total deposits were $701.2 million. Bancorp Rhode Island's common stock is traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market under the symbol "BARI" and its corporate web site is located at www.bankri.com. |
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