FINANCIAL_SERVICESPENDING

City eyes multi-term CD investments with United Community Bank

The City of Lincoln will consider placing multiple short-term Certificates of Deposit totaling $5 million with United Community Bank using Fifth Street Road Project bond proceeds. The CDs would range from three to twelve months with interest rates up to 3.75%, within an overall investment cap of $7 million.

Status
PENDING
Document date
August 3, 2026
Contract type
FINANCIAL_SERVICES
Vendor
United Community Bank
Agency
Town of Lincoln · IL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$2,000,000.00 three-month CD at 3.70%; $1,000,000.00 six-month CD at 3.70%; $1,000,000.00 nine-month CD at 3.70%; $1,000,000.00 twelve-month CD at 3.75%
Contract type
FINANCIAL_SERVICES
Contract term
Three, six, nine, and twelve-month Certificates of Deposit, all terms not to exceed twelve months
Renewal
CDs are short-term deposits with no explicit automatic renewal detailed in the agenda; each term does not exceed twelve months.
Document type
AgendaPacket
Source document
City of Lincoln AgendaPacket Regular City Council Meeting 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Lincoln?

United Community Bank was awarded this financial services contract by Town of Lincoln, as recorded on August 3, 2026. The contract value is $2,000,000.00 three-month CD at 3.70%; $1,000,000.00 six-month CD at 3.70%; $1,000,000.00 nine-month CD at 3.70%; $1,000,000.00 twelve-month CD at 3.75%.

How much is the United Community Bank contract with Town of Lincoln worth?

The United Community Bank contract with Town of Lincoln is valued at $2,000,000.00 three-month CD at 3.70%; $1,000,000.00 six-month CD at 3.70%; $1,000,000.00 nine-month CD at 3.70%; $1,000,000.00 twelve-month CD at 3.75%, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Lincoln AgendaPacket Regular City Council Meeting 2026-08-03 (AgendaPacket), dated August 3, 2026 from Town of Lincoln. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does United Community Bank hold?

United Community Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View United Community Bank's profile

What is Town of Lincoln currently buying?

Explore Town of Lincoln's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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