River Falls switches banks
After delaying its decision, the City Council Tuesday night went ahead and changed bankers from First National to Security Financial. The deal is for a three-year contract.By: Debbie Griffin, River Falls Journal
After delaying its decision, the City Council Tuesday night went ahead and changed bankers from First National to Security Financial. The deal is for a three-year contract.
The issue came down to the difference in the interest rate offered for "average deposits."
Security Financial's proposal shows a $10,000 benefit to the city.
At the council meeting, Security Financial was represented by vice president John Lisowski.
First National was represented by CEO Jeff Johnson.
Each side made presentations. The discussion that followed was lively.
Council Member David Cronk said $30,000 over three years would be substantial to him and most others.
For more on this story, please see the Dec. 14 print edition of the River Falls Journal.
Tags: river falls, government, money
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