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Board authorizes opening of money market account with Security Bank and Trust
Summary
Supervisors authorized opening a money market account with Security Bank and Trust with an initial $500 deposit to seek higher interest earnings while keeping the CorTrust account open; motion passed 3-0.
Chairman Mike Helman reported on a meeting with Security Bank and Trust regarding options to earn higher interest. The board voted to authorize opening a money market account with an initial $500 deposit and to keep the existing CorTrust account open; Vice Chair Brandon Geyen made the motion, Supervisor Sandy Forsman seconded, and the vote was 3-0.
Helman said money market interest would double versus CorTrust based on discussions with the bank; the minutes record the board’s authorization but do not include account terms beyond the initial deposit or the bank contact’s name.
