city-of-la-puente-cash-and-investment-report-july-31-2025_cdb.pdf
Medallion Bank Negotiable CD in City Portfolio
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Description
La Puente's portfolio includes a $249,000 negotiable certificate of deposit with Medallion Bank earning 0.90%, maturing September 30, 2026. This CD supports stable investment income.
Contract Details
Contract Amount
$249,000 face value
Vendor
MEDALLION BANK
Agency
City of La Puente, CA
Contract Type
FINANCIAL_SERVICES
Document Date
July 31, 2025
Contract Term
September 14, 2021 – September 30, 2026
Renewal Date
2026-09-30
Renewal Info
CD matures September 30, 2026; the City can reinvest or redeem at that time.
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