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Collierville board approves resolution to open 15 deposit accounts with Truist Bank
Summary
The board approved Resolution 2025-15 to open 15 deposit accounts at Truist Bank, implementing a treasury services contract approved in June 2024; the town clerk will sign bank documents after the meeting.
The Town of Collierville Board of Mayor and Aldermen unanimously approved Resolution 2025-15 to open 15 deposit accounts at Truist Bank, implementing a treasury-management contract that staff said the board approved in June 2024.
Miss Wells, the town finance director, explained the board approved an RFP and subsequently awarded contract GS25-1501 to Truist on June 10, 2024, to provide treasury-management and general banking services. Because changes to bank accounts require a board resolution, staff waited until after the recent election and the seating of the new board before opening the accounts, Wells said.
Wells said that if the resolution passed, the town clerk would have documents for board members to sign at the close of the meeting. After a motion and second, the board voted yes in roll call (Hall, Jordan, Marshall, Stamps, Robbins, Mayor Frasier). The motion carried and staff will complete signatures and account openings with Truist as authorized by the resolution.
The resolution formalizes the account openings; no additional policy changes were presented at the meeting.
