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Council authorizes transfer to Peoples Bank and expands intrafi investment option
2253023 · February 4, 2025
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Summary
Council approved moving a portion of the city's funds into an IntraFi product through Peoples Bank, citing a guaranteed 4.4% return in the proposal; the council also authorized signers on the account.
The Valley Center City Council authorized an enterprise account with Peoples Bank and approved using IntraFi placement through Peoples Bank to expand the city's short-term investment options, after staff described competitive rates and a fixed 4.4% offer from Peoples Bank.
City finance staff summarized the competitive process of…
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