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Ohio Treasurer representative briefs Seneca County on savings, small‑business and disability accounts
Summary
A state treasurer’s office representative briefed the Seneca County Board on investment options and new programs — including Star Ohio yields, AgLink for agribusiness, Ohio Homebuyer Plus accounts, a new Buckeye Business Advantage product and changes to stable/ABLE accounts that expand eligibility and privacy protections.
Pat McCauley, representing the Ohio Treasurer’s office, briefed the commissioners on programs the office administers for governments, businesses and individuals.
On investment services, McCauley said the Star Ohio pooled investment yield was about 4.37% in November and noted total assets in the program. He encouraged villages and townships that are not participating to consider the program.
McCauley described AgLink, a loan‑rate reduction program that can reduce financing costs by up to 3% on loans up to $500,000 for agribusinesses. He also highlighted Ohio Homebuyer Plus, a savings program that lets savers earn a bonus rate (up to 3%) on accounts used toward a home purchase; McCauley said roughly 16,800 accounts had been opened statewide and participants had saved about $240,500,000 for homes.
A new Buckeye Business Advantage deposit program targets small businesses headquartered in Ohio (at least 51% Ohio‑based employees) and allows eligible businesses to access deposit support for up to $1,000,000 with reduced financing for two years, with re‑application after that period.
McCauley also reviewed stable (ABLE) accounts for people with disabilities: the federal allowable balance has risen (McCauley cited a $19,000 cap and an additional $15,000 for working account holders), and changes in the recent budget mean account maintenance fees will be covered by the treasurer’s office (except for investment management fees). He said account information is no longer considered public record and that the age of disability onset eligibility is increasing from 26 to 46 on Jan. 1, which McCauley said could open coverage to about 2,000,000 additional people.
McCauley encouraged county staff to share program materials with local banks and small businesses and offered to send handouts to county offices for outreach.
