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Somerset council approves $1.25 million shift to state and county investment pools
Summary
On March 3, 2025, the Somerset Town Council approved moving $1,250,000 from the town’s Truist savings account into the Maryland Local Government Investment Pool and the Montgomery County investment pool to earn higher interest, following staff and finance‑committee support.
Somerset — The Town Council voted March 3 to move $1,250,000 from the town’s Truist savings account into two higher‑yield investment pools overseen by the state and the county, the Town Manager said.
"We currently have a savings account with Truist that we have quite a bit of money in, but it doesn't accrue much interest at all," the Town Manager explained during…
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