City of Wayland Agenda Packet 2026-05-18
City Renews 12-Month CD with United Bank
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Description
The City of Wayland is rolling over a maturing certificate of deposit with United Bank into a new 12‑month term at 3.60% interest as part of its March 2026 investment activities. This action maintains the City’s invested cash position while taking advantage of available CD rates.
Contract Details
Contract Amount
CD at 3.60% for 12-month term (principal amount not stated)
Vendor
UNITED BANK
Agency
City of Wayland, MI
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
12-month term CD maturing March 2027 (rolled over from March 2026 maturity)
Renewal Info
Existing CD investment with United Bank is renewed for another 12-month term at a 3.60% rate upon its March 2026 maturity.
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