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Valley Center approves switch of three-year banking services RFP to Peoples Bank
2651537 · February 13, 2025
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Summary
Council voted to move the city's three-year banking services contract from Equity Bank to Peoples Bank after staff flagged fine-print differences that affected expected interest earnings.
Valley Center city councilors voted Jan. 20 to switch the city’s three-year banking services contract from Equity Bank to Peoples Bank after staff reported unexpected fine print in Equity Bank’s contract that reduced expected interest earnings.
Staff told the council that during contract review the city discovered Equity Bank’s wording…
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