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

Scottsdale's Don Bluth Theatre Plans Fall Closure to Focus on Fundraising

Lynn Trimble A A Just one month after announcing it needed $50,000 to continue operations, Scottsdale-based Don Bluth Front Row Theatre has an…

Published: July 28, 2016 - 8:31 pm @ http://www.phoenixnewtimes.com/arts/scottsdales-do…

Neighbors still scared as hunt continues for Phoenix serial shooter

MARYVALE, AZ - Flyers continue to be posted throughout Maryvale, as neighborhood watch groups spread the word about the Phoenix serial shooter…

Published: July 28, 2016 - 7:36 pm @ http://www.abc15.com/news/region-phoenix-metro/wes…

American Geophysical Union Announces 2016 Fellows

26 July 2016 WASHINGTON, DC—The American Geophysical Union (AGU) today announced its 2016 Fellows, an honor given to individual AGU members wh…

Published: July 28, 2016 - 7:01 pm @ http://news.agu.org/press-release/american-geophys…

Hyundai Tucson gains modest interior enhancements for 2017

Hyundai has detailed a modest list of minor enhancements for the 2017 Tucson lineup. Buyers can now select an optional 315-watt Infinity premi…

Published: July 28, 2016 - 5:35 pm @ http://www.leftlanenews.com/hyundai-tucson-gains-m…

‘Stand by Me’ Oral History: Rob Reiner and Cast on River Phoenix and How Coming-of-Age Classic Almost Didn’t Happen

July 28, 2016 | 12:05PM PT It’s been three decades since “Stand By Me” became the little drama that could, catapulting River Phoenix to stardo…

Published: July 28, 2016 - 5:29 pm @ http://variety.com/2016/film/news/stand-by-me-30th…

Phoenix Suns coach Earl Watson seeking closure, justice after brother's shooting death

After a police officer was shot and killed in his hometown of Kansas City, Kansas earlier this month, Phoenix Suns coach Earl Watson used his …

Published: July 28, 2016 - 5:00 pm @ http://www.abc15.com/sports/sports-blogs-local/pho…

Rob Fullmer of Arizona Craft Brewers Guild on Why You Should Serve Beer With Dinner

Lauren Saria A A From now until we publish the 2016 edition of Best of Phoenix, New Times is naming 100 Tastemakers — members of our local cul…

Published: July 28, 2016 - 4:29 pm @ http://www.phoenixnewtimes.com/restaurants/rob-ful…

Why This GOP Foreign Policy Expert Is 'Horrified' By A Trump White House

A senior fellow at the Council on Foreign Relations, Boot has advised Sen. Marco Rubio (R-FL) and Mitt Romney on foreign policy. He's written …

Published: July 28, 2016 - 4:00 pm @ http://talkingpointsmemo.com/news/max-boot-anti-tr…

Fouhy: 4 things need to happen in order for the Arizona Cardinals to get to the Super Bowl

It's late July, and I'm already talking about Super Bowl 51! That's because, no matter where you look, the Arizona Cardinals are in the thick …

Published: July 28, 2016 - 3:29 pm @ http://www.abc15.com/sports/sports-blogs-local/fou…

FD: 4 people injured in Gilbert crash

GILBERT, AZ - Four people were injured in a two car crash in Gilbert Thursday afternoon. Gilbert Fire crews say one of the patients was transp…

Published: July 28, 2016 - 3:26 pm @ http://www.abc15.com/news/region-southeast-valley/…

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…