FINANCIAL_SERVICESAPPROVED

City of Ferndale Awards Financial Services Contract to Credit Union One (July 2026)

Ferndale will finance the purchase and upfitting of two police patrol SUVs through Credit Union One via a five-year, $120,000 loan at 4.99% interest. Annual payments of roughly $27,765 will run from September 2027 through September 2031, totaling $138,826.43.

Status
APPROVED
Document date
July 27, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Credit Union One
Agency
City of Ferndale · MI

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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
$120,000 principal; total repayment $138,826.43 (5 years at 4.99%)
Contract type
FINANCIAL_SERVICES
Contract term
Five-year loan, annual payments 09/01/2027–09/01/2031
Renewal date
2031-09-01
Renewal
Five-year fixed-term loan with amortization schedule through 2031; no renewal or extension described.
Document type
Agenda
Source document
City of Ferndale Agenda City Council Meeting 2026-07-27

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Ferndale?

Credit Union One was awarded this financial services contract by City of Ferndale, as recorded on July 27, 2026. The contract value is $120,000 principal; total repayment $138,826.43 (5 years at 4.99%).

How much is the Credit Union One contract with City of Ferndale worth?

The Credit Union One contract with City of Ferndale is valued at $120,000 principal; total repayment $138,826.43 (5 years at 4.99%), covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Ferndale Agenda City Council Meeting 2026-07-27 (Agenda), dated July 27, 2026 from City of Ferndale. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Credit Union One hold?

Credit Union One 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 Credit Union One's profile

What is City of Ferndale currently buying?

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

View City of Ferndale's profile

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