Town of Thurston Minutes Regular Meeting 2026-04-15
Town invests $225K in CD with Five Star Bank
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Description
The Thurston Town Board approved Resolution #17 of 2026 to invest $225,000 of General and Highway fund balances in a 6‑month certificate of deposit with Five Star Bank at 3.25% interest. The move uses a deposit placement program to maximize insured interest earnings on municipal funds.
Contract Details
Contract Amount
$75,000 of General Fund Balance and $150,000 of Highway Fund Balance to a 6-month CD at 3.25% interest
Vendor
FIVE STAR BANK
Agency
Town of Thurston, NY
Contract Type
FINANCIAL_SERVICES
Document Date
April 15, 2026
Contract Term
6-month certificate of deposit
Renewal Info
Single 6‑month CD placement; any rollover or renewal after maturity would require a separate action or instruction under the bank’s deposit placement program.
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