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McMinnville staff recommends keeping positive-pay at First National, proposes adding Coffee County Bank for utility payments
Summary
City finance staff told the finance committee they intend to keep positive-pay fraud protection with First National Bank and proposed adding a utility-payment account at Coffee County Bank to increase convenience for customers; no formal committee vote occurred because of lack of quorum.
McMinnville finance staff reported to the finance committee that First National Bank remains the only local bank offering positive-pay — a fraud-prevention service — and recommended continuing the city’s primary banking relationship with First National while exploring a new utility payment account at Coffee County Bank.
The recommendation was presented during an agenda item reviewing the city’s periodic four-year banking verification. “Positive pay is something very valuable, and it’s something we need to keep on those city checking accounts we’re writing all of those payments…
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