8/12/2019 Open Letter to BUSU's Board of Directors July 17, 2014

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SUMMARY: BUSU is raising its ATM fees from $1.00 to $1.25 per transaction, even though their ATMsalready profit $2000+/year. This is an open letter on behalf of students at Brock asking them to reverse theirdecision and keep ATM fees as low as possible on campus.

To the BUSU Board of Directors,

At your board meeting on the morning of July 17th, 2014, you passed a motion to raise ATM fees from1/transaction to 1.25/transaction at your three automated banking machines located in General Brock,

Skybar, and just outside of Union Station. I use these ATMs on a regular basis as I am not a Scotiabankcustomer.

In the explanation for this fee increase, General Manager JP said since 2008 BUSU has charged $1 pertransaction which is a really awesome deal especially considering the University charges $2/transaction atScotiabank...For every transaction that went through our machines, the student was charged $1. 15 cents ofthat went back to BUSU...So we were getting a very minimal amount of money back ($2301 in 2012-2013)which is fine, I mean were not re lly running these things s rev enue generating opportunities .

I agree. $1/transaction is an awesome deal and BUSU doesnt operate TMs to m ake profit. So why increase it?BUSU VPFA Kyle Rose then went on to explain further that the machines need to hit 900 transactions

per month before the kickback to BUSU increases from .15 cents to .80 cents per transaction, but that none ofthe three machines have hit that threshold in any one month. We saw that other schools were getting betterdeals so it made us question our agreement...We decided to stay with our current provider and raise the feewhich is going to allow us to see more of a kickback per transaction...and we re only raising it by 25 cents.

How about keeping it at 1/transaction and running a marketing campaign to advertise the fact that BUSU ATMsare half the price of Scotiabank? That should help you hit 900 transactions/month.

Prouse: Our contract will end in 2021, so its an additional two years on the contract and well expect

to probably get about 3600 a year in revenue instead of the 2000 a year we were getting before . In terms ofthe $1/transaction...its just a very small amount of money and it hasn't been increased in a while so this isreally just to increase the amount a little bit.

BUSU is a not-for-profit Union whose job it is to provide its services at the lowest possible cost tostudents. If your ATMs arent even there to profit in the first place, and theyre ALREADY clearing $2000 inrevenue, there is absolutely no reason to increase it. Total revenue for BUSU 2014-2015 is projected at $1.7million. Increasing this fee simply to generate $1400 in new revenue is not in students best interests.

Please reverse this decision at your next Board meeting and keep BUSU s ATM fees at 1/transaction.

Sincerely,

Adam Marshall

Current Brock Undergraduate and BUSU Employee

am10py@brocku.ca