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Mount Clemens approves move of city banking to Comerica, citing service problems with Huntington/TCF
Summary
The commission authorized the finance director/treasurer to open necessary accounts with Comerica Bank and to move municipal banking services after problems with Huntington/TCF, citing Comerica's dedicated municipal division and existing coin-counting transfers.
The Mount Clemens City Commission voted to authorize the finance director/treasurer to open any necessary accounts and to move municipal banking services to Comerica Bank.
City staff and an online participant identified as Cliff said the city has already moved coin-counting and coin deposits to Comerica after service issues when Huntington took over TCF. Cliff described Comerica's municipal division as staff "solely dedicated to that of working with treasurer's [and] finance director from numerous cities..." and said the bank offers dedicated municipal support staff.
Commissioners questioned whether Comerica has a branch in Mount Clemens; staff said there is not, and noted nearby branches in Clinton Township and other neighboring communities. Several speakers said Huntington did not adequately engage local leadership after problems with wire transfers and customer service; one commissioner said Huntington did not reach out after press coverage of the issues.
The commission approved the authorization by roll call. Staff said the move does not preclude purchasing certificates of deposit from other banks when competitive rates exist. The finance director will proceed to open accounts and work with Comerica's municipal group on transitioning services.
