State treasurer doubles investment in local banks, credit unions - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

State treasurer doubles investment in local banks, credit unions

Print
Font Size:
Default font size
Larger font size

Posted: Friday, February 10, 2012 6:00 pm

State Treasurer Doug Ducey announced that in 2011 his office doubled its investment in local banks and credit unions through its deposit bid program. There is currently more than $100 million invested with 10 Arizona banks, up 100 percent from the year prior.

Participating banks in the program include Alliance Bank of Arizona, Alerus Financial, Arizona Business Bank, First National Bank of Scottsdale, M&I Bank, Meridian Bank, Metro Phoenix Bank, Pinnacle Bank, Republic Bank of Arizona and West Valley National Bank.

Each month, the Treasurer's Office entertains bids from local banks and credit unions for the placement of up to $250,000 in cash per institution for either one-month, three-month, six-month, one-year, two-year or five-year products that are fully insured with the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Share Insurance Fund (NCUSIF).

Minimum qualifications for bidders require Arizona deposits of at least $10 million, banks with a capital leverage ratio of at least 6 percent in the previous quarter, and credit unions with a prompt corrective action net worth ratio of at least 6 percent in the previous quarter.

Local institutions are encouraged to quote rates for all maturities they offer. Once bids are received, the Treasurer's Office will notify each institution if their bid is accepted. For 2012, bids can be emailed to cdbid@aztreasury.gov. Additional information can be accessed by visiting www.aztreasurer.gov/localBankProgram.html.

More about

More about

More about

  • Discuss

Phoenix police renew call for tips in serial killer case

"We collectively know somebody out there has information about the suspect involved in these crimes, and we desperately need that information,…

Published: August 25, 2016 - 9:13 pm @ http://www.foxnews.com/us/2016/08/25/phoenix-polic…

The Next Phase of Wearable Tech: Tattoos (VIDEO)

This video introduces DuoSkin, a new piece of wearable tech co-developed by MIT Media Lab and Microsoft Research. It’s a fantastic idea: a pai…

Published: August 25, 2016 - 8:51 pm @ http://www.slate.stfi.re/blogs/future_tense/2016/0…

Burns Steps Up 'Dark Money' Quest, Subpoenas APS And Pinnacle West

Published: Thursday, August 25, 2016 - 2:56pmUpdated: Thursday, August 25, 2016 - 3:32pm downloadAt long last, Bob Burns has made good on his …

Published: August 25, 2016 - 8:51 pm @ http://kjzz.org/content/355927/burns-steps-dark-mo…

Political Notebook: Trump guru's bullying goes back to Biosphere

The name Steve Bannon may not mean much to most people in Southern Arizona, but to those involved in Biosphere 2, it brings back memories of a…

Published: August 25, 2016 - 8:43 pm @ http://tucson.com/news/local/columnists/steller/ar…

Edible Food Packaging Garnering Interest from Food Companies to Reduce Waste

Edible food packaging made of milk proteins can reduce waste and prevent food spoilage, according to US Department of Agriculture researchers …

Published: August 25, 2016 - 7:43 pm @ http://www.environmentalleader.com/2016/08/25/edib…

How ‘Shark Tank’ is reshaping reality TV

ABC’s “Shark Tank” doesn’t return until late September — but there’s no shortage of business-themed reality shows on TV. CNBC, which began air…

Published: August 25, 2016 - 7:21 pm @ http://nypost.com/2016/08/25/how-shark-tank-is-res…

Jersey Jazzman: Charter Schools: A Few Bad Apples, Or a Whole Barrel?

Charter school advocates are not happy about John Oliver's last show, in which he documented the many problems with charter schools: Profit-ta…

Published: August 25, 2016 - 7:13 pm @ http://jerseyjazzman.blogspot.com/2016/08/charter-…

FOX 10 Phoenix - Timeline

See more of FOX 10 Phoenix by logging into FacebookMessage this Page, learn about upcoming events and more. If you don't have a Facebook accou…

Published: August 25, 2016 - 7:13 pm @ https://www.facebook.com/FOX10Phoenix/videos/11001…

American pika vanishing from western US as 'habitat lost to climate change'

Populations of a rabbit-like animal known as the American pika are vanishing in many mountainous areas of the west as climate change alters it…

Published: August 25, 2016 - 6:13 pm @ https://www.theguardian.com/environment/2016/aug/2…

Abortion Reversal 'Quackery' Gets the Boot in Arizona

A law forcing Arizona doctors to say medication abortion is reversible is officially dead. A federal judge on Tuesday dismissed a lawsuit chal…

Published: August 25, 2016 - 6:12 pm @ https://rewire.news/article/2016/08/25/abortion-re…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…