February 8, 2012 in Blog by Ryan

Waterloo Banking Project whiteboard video | The Tree

We created this video as part of our entry in the Laurier Entrepreneurship Competition. Please watch it and learn more about our plan and its feasibility.

Helena Cao drew the artwork. Ryan Chen-Wing voiced the script. Mark Haley, Vinson Fong, and Nathan Shantz produced the video. Mark and Helena edited the final product.

“Someone’s sitting in the shade today because someone planted a tree a long time ago.” — Warren Buffett
Read more »

February 2, 2012 in Blog by Waterloo Banking Project

Tell us your best personal finance tip and you could win $20

Do you want a chance to win $20 in cash? We at Waterloo Banking Project know students are always looking to save money so, for the month of February, we are holding a contest on our Facebook page to see who has the best personal finance tip as voted for by your friends and fellow students.

Here’s how it works:
1. LIKE our Facebook page: Waterloo Banking Project.
2. THINK carefully about your single best personal finance tip.
3. POST your tip on our Facebook page.
4. SHARE this contest with your friends to increase your Likes and chances of winning.
Note: Voters must also Like the Waterloo Banking Project Facebook page for Likes on tips to be valid.
Read more »

January 31, 2012 in Blog by Karolina

News outlets cover our performance at Enterprize regionals

Earlier this month, the Project placed second in the Enterprize Canada central region business plan competition. After the news release of the Waterloo Banking Project advancing to the Enterprize Canada finals in Vancouver, the Project received much media attention from the University of Waterloo and Wilfrid Laurier University.

The Cord included a brief description about the Project’s achievements at the competition and a statement from Ryan Chen-Wing, one of the directors of the Project.
Read more »

January 23, 2012 in Blog, Project Updates by Karolina

Project competes at the Queen’s Entrepreneurs’ Competition 2012

Waterloo Banking Project participated in the Queen’s Entrepreneurs’ Competition this weekend — the largest international undergraduate business plan competition in Canada, according to the QEC website. Directors of the Project, Mark Haley, Helena Cao, and Ryan Chen-Wing, competed among the sixteen teams whose business plans qualified for the competition and presented their plans to business professionals.

The QEC brings together young, bright individuals and allows them to develop their business ideas with the criticism and support they received from the judges, as well as compete for a top cash prize of $15,000. The competition is recognized internationally and has now entered its 24th year, with teams that came from Singapore, South Africa, Bangladesh, the U.S., and Canada.

The itinerary of the three-day competition included a ‘mix and mingle’ at the Delta Chelsea hotel, a speaker event, dinner at the Hard Rock Cafe, and of course first and final round presentations on Friday and Saturday.

Waterloo Banking unfortunately did not advance into the final six, however the team did not leave completely dissatisfied. The judges asked questions that identified some of the major challenges the project faces. “We answered them well,” said Ryan Chen-Wing over email from the competition, “but we were the only project whose purpose is not personal profit. Ours is an unconventional endeavour and it is important for us to deal with and dispel doubts.”

Staff of the project are looking forward to better showings at Enterprize nationals and other competitions later this term. As well the project is focused on its primary goal of establishing student-run financial services.

January 16, 2012 in Blog, Media Coverage by Ryan

News release: Waterloo Banking Project advances to Enterprize Canada finals in Vancouver

A group of Waterloo and Laurier students are boosting their universities’ reputations for entrepreneurship as they work to create Canada’s first student-run financial institution. Waterloo Banking Project placed second in the Enterprize Canada central region business plan competition on Saturday 14 January and qualified to compete at the national finals in Vancouver next month.

Ryan Chen-Wing, Helena Cao, and Mark Haley delivered their 15-minute presentation on their team’s business plan to a panel of judges, students, and competitors from the other six teams in the Macdonald Institute building at the University of Guelph.
Read more »

January 15, 2012 in Blog, Project Updates by Ryan

Project qualifies for Enterprize Canada finals in Vancouver

Waterloo Banking Project placed second in the Enterprize Canada central region on Saturday and qualified to compete at the national finals in Vancouver next month.

Ryan Chen-Wing, Helena Cao, and Mark Haley delivered their 15-minute presentation on their team’s business plan to a panel of judges, students, and competitors from the other six teams in the Macdonald Institute building at the University of Guelph. The team represented both University of Waterloo and Wilfrid Laurier University.

Judges offered feedback and advice on improving the team’s performance for the finals. They also were impressed by how much the team had achieved so far in developing plans for student-run financial services.

The top three teams advance to compete at the 12-team Enterprize Canada finals February 10-12 in Vancouver.

Thank you to staff members Tian Lei and Vinson Fong who attended the event and photographed and supported the team.

January 4, 2012 in Blog by Ryan

Accepting staff applications for Winter 2012

Edit: Applications are now closed. Thanks for applying!

We at Waterloo Banking Project are hiring student staff to help establish the first student-run financial institution in Canada.

Our social enterprise startup requires a broad rang of talents and perspectives. We invite applications in all years and all programs from both Wilfrid Laurier University and University of Waterloo.

We are seeking applicants who are diligent, resourceful, and good communicators.

Applications are due Friday 6 January 2012 at 23:59.

Read more »

January 3, 2012 in Blog by Tian

In review: Graduate Richer with Bradley Roulston

In October, we held our first financial education speaker event, Graduate Richer, with speaker Bradley Roulston, Certified Financial Planner (CFP).

In his talk, Bradley began by describing the reluctance many people have toward discussing personal finances with family and friends. This “Psychology of Money“, as he called it, creates a barrier which not only makes the topic of money difficult to bring up but can even lead to fights. However, it is important that we understand our finances if we want to achieve our financial goals.

Read more »

January 2, 2012 in Blog, Media Coverage by Tian

WLU’s The Cord newspaper features the Project

Throughout the course of this term, the Waterloo Banking Project appeared several times in Wilfrid Laurier University’s student newspaper The Cord.

In September, Laurier students learned about the project in an article where Helena Cao and Ryan Chen-Wing discussed the origins of the project and what we plan to achieve. The article also included encouraging feedback from a Laurier professor.

When Ryan Chen-Wing first stumbled across the entirely student-operated Georgetown University credit union during a research project, he was struck by the idea that such success might be mirrored in Waterloo.

“We have talented students at Waterloo and Laurier,” the University of Waterloo student commented. “If it can be done anywhere in Canada, it can be done here.”

[...]

The goal, said Helena Cao, who is the senior director of Waterloo Banking Project, is for students “to be able to carry themselves through their education with the least amount of debt that they can have.”
— Easing students’ financial woes The Cord 28 Sep 2011

Read more »

December 27, 2011 in Blog by Tian

And the survey winner is…

In September, we launched our Fall survey to poll both Waterloo and Wilfrid Laurier students on their financial situation and attitudes toward a student-run financial institution. We would like to thank everyone for their feedback. Your responses will help us to better understand your needs and allow us to design financial products that work for you.

Following completion of the survey, eligible students had the chance to enter into a draw for $500 in cash. We randomly selected one of the survey participants and Regan M., of Wilfrid Laurier University, was the lucky winner of the draw. The cheque was presented during a staff meeting in November. When asked what she would do with the money, Regan answered, “Pay rent.” What a financially prudent idea. Congratulations to Regan.

We hope you’ll stay tuned to our website, Like us on Facebook, or Follow us on Twitter for future events and announcements. You could be our next lucky winner.