Organization Bank Accounts

Obtaining a bank account for your organization is an endeavor that should be entered into with care and proper knowledge. The information provided in this section will offer information about setting up a bank account with the Alabama Credit Union (ACU) or with other banking institutions in the state of Alabama.

In order to obtain a bank account at any financial institution, your organization must be recognized at The University of Alabama and have current up-to-date information listed on your mySOURCE organization profile. The Office of Student Involvement recommends the use of the Alabama Credit Union.

  • A signed and completed ACU Student Organization Account Resolution and Association Agreement (signed by advisor and authorized signers; To obtain this document you must visit The University of Alabama Student Center ACU location)
  • Our office no longer provides a “Bank Letter” for Alabama Credit Union. The bank will utilize your public information on your organization’s mySOURCE profile to verify eligible signers. If your “Profile Information” in mySOURCE is not updated with the appropriate personnel, then you will need to submit a “Change of Officer/Advisor Form” or complete the organization renewal process (Renew an Org) if it is during your designated registration window.

Your organization will benefit from the strong partnership and working relationship ACU has with UA. For more information about banking with Alabama Credit Union, you should visit their The University of Alabama Student Center location or contact them via phone.

  • To apply or renew your organization’s bank account with any banking institution (including the Alabama Credit Union), the bank must be able to verify that the users you are requesting to be on your account are officially recognized via mySOURCE by the UA Office of Student Involvement.
  • To view who is currently listed as eligible signers on your bank account, you will login to mySOURCE, go to your organization’s main page, and then click the “Profile” tab on the left side. This is a depiction of what is currently on file with The Office of Student Involvement.
  • The profile cannot be updated by you and must be changed administratively in our office. If you notice that your information is incorrect, you will need to go to the “Forms” tab on mySOURCE and fill out the “Change of Officer/Advisor Form”. Updates could take 48-72 business hours. During the renewal period, the Change of Officer/Advisor forms will not be available, so you will complete your organization’s renewal application and NOT this form.
    Questions? Contact Student Involvement at 205-348-6114

Student organizations should consider applying for an IRS Federal Employer Tax ID Number (EIN) if they intend to collect dues, be paid for services, or collect funds for philanthropy purposes. The quickest way to complete is online. An EIN stands for employer identification number.

When you apply online, you will be asked to identify your organization’s type of legal structure. Select: “View Additional Types, Including Tax-Exempt and Governmental Organizations”, then “PTA/PTO or School Organization.“

Requesting your EIN Number Online

Complete this online application and you will obtain your EIN number immediately (please print or save for your records):

  1. Go to EIN Assistant website
  2. Begin Application
  3. Click “View Additional Types, Including Tax-Exempt and Governmental Organizations” and click continue
  4. Click “PTA/PTO or School Organization” and continue
  5. Choose “I am a responsible and duly authorized officer or member of this organization”
  6. Type the permanent address your organization is using
  7. Legal name of PTA/PTO/School Organization is your organization’s official name with The SOURCE, county is Tuscaloosa County
  8. Next, select “No” for all options
  9. Click Other and click continue and then click “Organization”
  10. Select the category that best describes your organization. Ex – Dance Marathon at UA would select “Fundraising” and specify in detail: “Raise funds for local Children’s Miracle Network Hospitals and Pediatric Outreach Programs”
  11. Finally, you will click “Receive letter Online”, review your information, and submit!
  12. If and when the address or individual’s name on the account changes, you will need to make sure to update that with the IRS.

Officer Transition Plan for EIN Number

When the officer who submits the EIN request is no longer associated with the organization due to graduation or any other reason, they will need to be sure to communicate this information to the IRS, as well as any other accounts (bank, online, etc.) to have their personal information removed from any accounts.

If that individual does not remove themselves, they can be held responsible for any financial obligations made by the organization. Also transferring your student organization’s accounts ensures a smooth transition for the new leadership.
  • Registered Student Organizations cannot use the University’s federal tax exemption of nonprofit organizations, specifically those that are considered public charities, private foundations, or private operating foundations. Registered Student Organizations are not covered by the University’s 501(c)3 status when making purchases from their non-UA/off-campus account.
  • If a registered student organization is connected to a nonprofit organization and/or are an affiliate chapter of a national body that has nonprofit status, the student organization officers should work with the large nonprofit organization to find out if it is covered under that group’s 501(c)3 status.
  • Questions? Contact Student Involvement at 205-348-6114

Should a student organization believe they qualify for non-profit status and seek to apply with the federal government, they should do that with the advisement of a lawyer or tax professional, as it is an undertaking which requires submission of annual documents to the federal government (i.e.- IRS).

  • A Letter of Verification of your registered status with The SOURCE, which indicates the authorized account signers
  • Establishment of an EIN number (also known as a tax identification number- How to apply for an EIN) for your organization.
  • Additional paperwork required by the banking institute (varies with banking institution)

Coca-Cola Grant

Registered student organizations are eligible for $100 worth of Coca-Cola products per year. From soft drinks to customizable banners, these products are an awesome resource for events and publicity. Your allocation amount is kept in a spreadsheet with our office. Once you have reached your designated amount, you will not be eligible for additional funds. Before submitting, please make sure your request is at least 10 business days in advance of your desired date to receive the products. All funds come from a large pot that is first come first serve. To submit an allocation request do the following:

  1. Complete the Student Organization Request Form
  2. The Office of Student Involvement will review your request and if approved, will send you an email confirmation.
All requests must be submitted at least 10 business days in advance.  Requests not made within 10 business days may not filled.

Financial Affairs Committee (FAC) Funding and Training

The Student Government Association (SGA) Financial Affairs Committee (FAC) allocates funds to registered student organizations for programs, events, travel, and more.

Completing FAC Training is required before an organization can apply for FAC funding. The training is held via Blackboard and helps student organization leaders understand the FAC application process.

For more information about FAC funding guidelines and training, review the documents listed on FAC’s mySource profile or contact FAC Advisor Cassie Yeager (fac@ua.edu).

Student Organization Food Grant

Bama Dining and Enterprise Operations provide active, registered student organizations the opportunity to receive food and refreshments donations for events. See below for more details:

Student Organization Gameday Fundraising

The Office of Student Involvement partners with UA Auxiliary Services to provide opportunities for student organizations to generate funding. Registered student organizations can apply to participate during home football games.