Establishing New Accounts
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Modified on: Tue, Jul 15, 2025 at 1:35 PM
Minimum Requirements
- A minimum deposit or transfer of $500 is required to open a new Operating account
- Operating accounts that remain below the minimum for a period of 3 months are subject to closure unless special circumstances exist. USMF will work with the department to determine where the remaining funds are transferred.
- Endowment and Quasi Endowment accounts can be opened with a fully executed Memorandum of Understanding on file with a total gift amount of $10,000 (or higher based on campus-specific policy). Endowment accounts must be in existence for 6 months as of July 1 before Spendable Income is computed.
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