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.

Financial Management and Accountability

  1. Registered student organizations must maintain all funds allocated from University-controlled sources in a University account and must spend these monies in accordance with current University of Alabama financial policies and procedures, as well as state funding guidelines. Student organizations losing registered status also forfeit access to FAC funding processes, currently allocated FAC funding, and other financial benefits of the University.
  2. Registered organizations can maintain accounts outside of the University. In particular, they may get an account with the Alabama Credit Union (ACU) or another bank. The organization must keep accurate records of funding sources and disbursements, including the amount of income and expenditures, the means of generating funds and approving expenditures, and the purposes of expenditures. Student organizations must keep receipts for monies expended and must issue receipts for monies collected.
  3. Members of registered student organizations have the right to know how organizational funds are collected and disbursed. Additionally, sources and amounts of organizational revenues and the objectives and amounts of organizational expenditures are public knowledge. The organization should take measures to support consistent policies of money expenditures within their organization to prevent fraud.
  4. It is recommended that organizational monies be dispersed by use of checks rather than cash. All checks must include the signature of one (1) officer, preferably the president or treasurer.
  5. Advisers are to serve as signatories to add and remove students from outside bank accounts, but should under no circumstances be active signers on the account.

Bama Dining 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:

If you have questions about the Bama Dining Food Grant, please contact Patrick Brinyark with Bama Dining (patrick.brinyark@ua.edu).

Coca-Cola Grant

Registered student organizations are eligible for $75 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 made less than 10 business days in advance cannot be 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).