The Faculty-Student Association (FSA) developed in 1950 at the New York State College for Teachers. This non-profit corporation operated and financed ancillary enterprises associated with higher education, such as the bookstore and dining services. The college's co-op bookstore began in the 1920s, but effective September 1, 1950 the FSA assumed its assets, liabilities and ownership. Similarly the College cafeteria opened in the early 1940s and in 1951, the FSA assumed the assets, liabilities and ownership of the cafeteria.

FSA diversified into new areas beyond the book store and dining services during the next two decades. This included check cashing, operation of a barber shop and beauty parlor, real estate investment, management of the College bowling alley, provision of linen and dry cleaning services, loans, film service and supervision of scholarship endowments. With a high demand for housing, the FSA in the early 1950s began to acquire area single-family homes and apartments by lease or purchase to provide homes for faculty and students. The FSA sold these homes during the 1970s. In 1965 the FSA purchased the Mohawk Campus, several parcels of land along the Mohawk River near the Northway, and Goodman Place, adjacent to the University's recreational facility Camp Dippikill, in 1966. Both were later sold as well.

The organization employed nearly 200 full-time staff members as of 1967 and 275 by 1972. Hundreds of students also filled temporary positions with the organization. An executive director (later a general manager) oversaw the day-to-day operations of the FSA. A Board of Directors provided policy direction for the FSA and had representatives from administration, faculty and students.

In 1966, New York State required FSA to begin to enter into formal, yearly contracts for services with the State University of New York Central Office. Two of these contracts are included in the records.

During the late 1960s and early 1970s, the FSA experienced a cash shortage and students began to demand control over the FSA budget, specifically its allocation of funds. The Albany Student Press published a series of investigative reports on the FSA during the fall of 1971 seeking to provide students with a better understanding of the association and its holdings. This demand for reform resulted in greater student representation on the Board of Directors, elimination of free meals for dorm directors, resident assistants and international students and allowing student input on the hiring of key FSA personnel. In 1975 students took even greater control of the Board and its leadership. In addition to the divesting of real estate, there were other financial restructuring changes, especially the contracting of bookstore operations in 1972 to a private vendor who paid the FSA a percentage of gross sales.

In 1976, prompted by its student members, the FSA changed its name to University Auxiliary Services (UAS) to avoid confusion with other groups with the words student association in their names. The UAS continued to invest in and provide campus services (often through corporate partners) such as dining, vending, banking and the bookstore. This non-profit corporation remains part of the University community today.