I've seen a handful of "university of [place name] credit union"s I imagine it's a case of "we already do some financial products, might as well cut out the middle man and make it a branch of the business"

I also worked at a regional bank with about 20 locations. Out of the 120 or so employees most were tellers and branch managers, then only about a dozen were behind the desk people doing literally everything else keeping the lights on, so in terms of headcount it doesn't take that many people to run a small bank. Hardest part is raising the capital to get a bank charter (I think that's like 10 million dollars for a single location last I looked)

I've lived in several places and at least two of them (including the one I have now) had a credit union as a university thing that only people affiliated with a university can use. I have one now because my wife used to work at the university, so we qualified for them then and you get to keep them even if you no longer are affiliated.

I wish you got to keep your right to pay for a membership to the university sports complex. Seriously, if you were an employee or student, you could pay $15 a month to use the track and pool and weight room and stuff. But if you weren't attached to the university, there is no amount you could pay to use it. They also made employees pay for parking. My wife has worked for two universities. Both of them made her pay for a university parking sticker. But, again, if she or I wanted one now, we couldn't get one. What the fuck.