The radio station's studios are located within the lower level of "The Hub" complex on the university's Bruce campus, in Australia's capital city – Canberra.

It receives no funding from either the UCU, nor the University of Canberra and covers operating costs by broadcasting a minimal amount of non-intrusive advertising, permitted under its licence conditions, as well as sponsorship, donations and membership fees.

One of its main purposes on campus is as a learning tool for students to assists members to make the important step from study into a professional media career post graduation.

In recent years UCFM volunteers, many with considerable radio industry experience have totally rebuilt the station's studios, transmitting equipment and on-air content extending its popularity to include many Canberra listeners outside the university, and online.

Close proximity allocation by the Australian Communications and Media Authority of other narrowcast licences has caused interference of UCFM's signal and numerous applications for a full upgrade have been refused by the ACMA.