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Cook County votes to move investment safekeeping from PNC to US Bank, citing lower fees and customer service
Summary
The Commissioners Court approved a motion to move the county’s investment safekeeping from PNC Bank to US Bank, projected to save about $1,000 annually and provide more responsive customer service. The transfer will be initiated after paperwork and timed to avoid interrupting interest payments.
Cook County commissioners voted unanimously on July 28 to move the county’s investment safekeeping from PNC Bank to US Bank. The court-approved transfer was presented by a county finance official who said US Bank charges a minimum safekeeping fee of $1,500 annually and offers flat charges…
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