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Board approves moving maturing CD into 12‑month CBN account
Summary
The board voted to reinvest a maturing certificate of deposit with a July 15 maturity and a reported balance of $1,081,980.26 into a 12‑month account at CBN after members said locking yields was preferable to shorter terms amid anticipated rate cuts.
The Fayetteville Board of Aldermen voted to reinvest a maturing certificate of deposit into a 12‑month account at CBN.
The CD, which the board said will mature Sept. 15 and has a balance of $1,081,980.26, was reviewed during the meeting. Staff presented a chart of current offers across several terms, including 6, 7, 12 and 18 months, and relayed that local…
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