LINCOLN, Neb.– Collegiate, a digital banking platform created by Michigan State University Federal Credit Union (MSUFCU), and Opendorse have announced what they called a “nationwide opportunity designed for student-athletes to participate in NIL while building healthy money habits.”
The organizations said student-athletes can earn $50 for opening a Collegiate account and sharing a public social media post about their new membership. The opportunity is available to student-athletes who use Opendorse and includes an additional $25 bonus when they withdraw funds from Opendorse to their new Collegiate account
“This partnership shows what is possible when brands get creative to provide opportunities for student-athletes,” Steve Denton, CEO of Opendorse, said in a statement. “Collegiate is leveraging our platform to engage athletes at scale across sports and schools, with an opportunity that is simple, inclusive, and built to make a difference.”
The organizations said that unlike many traditional offers, which “often set high barriers to qualify,” Collegiate’s program is designed to be accessible to all student-athletes across divisions and sports.
“With a $5 membership deposit — refundable if the account is ever closed — athletes unlock fee-free everyday banking, including a Visa debit card, mobile check deposit, access to 30,000+ surcharge-free ATMs, and savings tools that help them set goals and track progress,” the organizations stated.
Collegiate also provides free financial education resources to help athletes navigate budgeting, savings, and building credit.
How it Works
According to the organizations, the initiative works this way:
• Athletes discover the opportunity on Opendorse and apply.
• Once accepted, they receive a deal through Opendorse.
• They open a Collegiate account and share a qualifying public post to earn $50.
• After withdrawing funds from Opendorse into their Collegiate account, they unlock an additional $25.
• From there, athletes can keep using Collegiate’s tools to manage everyday spending and grow their savings — without monthly maintenance fees.
Student-athletes can learn more and apply to be part of this campaign at app.opendorse.com/opportunity/2860, the organizations said. Those selected for partnership will receive instructions from Opendorse to create their Collegiate account. To be eligible, student-athletes must play any sport at any school and have at least 100 followers on one social media platform.
