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Administration committee approves switch of county primary bank to U.S. Bank to reduce fees
Summary
The administration committee voted June 9 to name U.S. Bank as St. Croix County’s primary banking provider, citing estimated annual savings of roughly $12,000–$14,000, a state contract, and a larger local presence. The change was approved by motion and will include a transition period with both banks active.
Carrie, the county’s first deputy treasurer, urged the administration committee to approve changing the county’s primary banking provider to U.S. Bank at the June 9 meeting, saying the move would reduce annual bank-service charges by an estimated $12,000–$14,000 and lock fees through 2029 under a state contract.
‘‘This change would reduce bank service charges from 12 to $14,000 annually and fees would be locked through the year 2029,’’ Carrie said, characterizing U.S. Bank as having a stronger presence in Wisconsin and easier day‑to‑day customer service than the current provider.
Committee members asked whether inter‑bank transfers and same‑day flows would be handled smoothly and whether the county would have a local relationship manager. Carrie replied that state-contract fee schedules and U.S. Bank’s client coverage make day‑to‑day operations and interday deposits more predictable, and that the bank provides local points of contact.
Supervisor Mike moved to approve the change and Supervisor Connor seconded the motion. The committee called the vote and the motion carried. Committee members noted that the transition would include a period when both banks remain active to ensure uninterrupted cash flow.
