County Chooses Which Bank To Use

by Mackenzie Stasko on August 1, 2013 at 6:41 am

At a meeting Thursday morning, the Muskingum County Commissioner’s and the county treasurer agreed on Community Bank as the county’s primary depository account.

"They had the best fee schedule," said Carol Friel, Muskingum County Treasurer. "The interest rate was comparable to the other location but they currently are our financial institution and we have a good relationship and nothing has changed so that’s why we’re keeping them."

The county is required by law to go through checking account proposals every four years. Friel and the commissioner’s had to decide between six other financial institutions and choose a secondary account as a back-up.

"You make sure you have a secondary account in case something happens to the institution you’re using then you have all of your documents prepared and you can call the next facility which our secondary in this case is Century and we will be able to get funds transferred to them and try to keep service uninterrupted."

Friel says the depository account decision has no affect on the county’s interest accounts.