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: Wednesday, February 8, 2012 10:00 am

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

Dirty Laundry Alert: Kelly Townsend Drops E-mail Bomb on CD5 Hopeful Andy Biggs

Stephen Lemons A A Andy Biggs probably wishes he never stopped by a recent Legislative District 16 meeting in Mesa, where he reportedly picked…

Published: July 30, 2016 - 1:48 pm @ http://www.phoenixnewtimes.com/news/dirty-laundry-…

This baby Harry Potter fan grew up to be like Hermione Granger

Taken in 2003, this adorable photograph of a six-month-old baby girl with her mum is a perfect example of early Harry Potter fandom.  The baby…

Published: July 30, 2016 - 12:48 pm @ http://mashable.com/2016/07/30/harry-potter-baby/

Justice Department to review fatal Arizona police shooting

PHOENIX (AP) — The U.S. Justice Department will investigate the fatal shooting of a woman by a Winslow police officer. Justice Department spok…

Published: July 30, 2016 - 12:48 pm @ http://bigstory.ap.org/article/e6616d002f73468e856…

Buckeye AZ Police Department - Timeline

@BuckeyeAZPDPublicSee more of Buckeye AZ Police Department by logging into FacebookMessage this Page, learn about upcoming events and more. If…

Published: July 30, 2016 - 12:46 pm @ https://www.facebook.com/BuckeyeAZPD/posts/692718737560052

Reward offered after armed robbery at Taco Bell

SCOTTSDALE, AZ - Know this man? Silent Witness is offering a reward after they believe he robbed a Taco Bell. The incident happened at a Scott…

Published: July 30, 2016 - 12:26 pm @ http://www.abc15.com/news/region-northeast-valley/…

The return of the Luddite president

Whether Hillary Clinton or Donald Trump wins the White House, one thing seems sure: The U.S. will get a president with scant first-hand unders…

Published: July 30, 2016 - 12:18 pm @ http://www.politico.com/story/2016/07/luddite-pres…

Radio Phoenix Podcast with Man Hands

Local punk rockers Man Hands came down to the Phoenix Center for the Arts for another installment of Rise on Radio Phoenix. And of course they…

Published: July 30, 2016 - 11:55 am @ https://www.yabyumwest.com/2016/07/radio-phoenix-p…

The Noise Addicts of New York City: Best #Cityreads of the Week

“Noise is a Drug and New York is Full of Addicts,” Susie Neilson, Nautilus As soon as the door slams, I slide to the floor in a cross-legged p…

Published: July 30, 2016 - 10:19 am @ http://www.citylab.com/design/2016/07/the-noise-ad…

Space Standoff: The next Cold War is already playing out right above our heads

There’s a cold war in space and virtually no one knows about it. Right now, miles above your head, there are fleets of robotic, weaponized sat…

Published: July 30, 2016 - 10:18 am @ http://www.digitaltrends.com/cool-tech/weaponized-…

Mesa Mountain View's Hodges Commits to Sun Devils

The good times continue to role for Arizona State this offseason from a recruiting stand point as the Sun Devils have added another local pros…

Published: July 30, 2016 - 9:46 am @ http://www.sports360az.com/2016/07/mountain-views-…

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…