FINANCIAL_SERVICESRECOMMENDED

City Treasurer Proposes Multiple CDs with UCB

The City Treasurer recommended placing several certificates of deposit with United Community Bank totaling $5 million at rates between 3.70% and 3.75% for terms ranging from three to twelve months. These investments would temporarily invest Fifth Street Road Project bond proceeds to earn interest.

Status
RECOMMENDED
Document date
July 28, 2026
Contract type
FINANCIAL_SERVICES
Vendor
United Community Bank
Agency
Town of Lincoln · IL

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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
$2,000,000.00 at 3.70% for three months; $1,000,000.00 at 3.70% for six months; $1,000,000.00 at 3.70% for nine months; $1,000,000.00 at 3.75% for twelve months
Contract type
FINANCIAL_SERVICES
Contract term
Three-month, six-month, nine-month, and twelve-month CDs
Renewal
Short-term CD investments with fixed maturities; upon maturity, funds would need to be reinvested or redeemed under new terms.
Document type
AgendaPacket
Source document
City of Lincoln Committee of the Whole Meeting Agenda Packet 2026-07-28

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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 July 28, 2026. The contract value is $2,000,000.00 at 3.70% for three months; $1,000,000.00 at 3.70% for six months; $1,000,000.00 at 3.70% for nine months; $1,000,000.00 at 3.75% for twelve months.

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 at 3.70% for three months; $1,000,000.00 at 3.70% for six months; $1,000,000.00 at 3.70% for nine months; $1,000,000.00 at 3.75% for twelve months, 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 Committee of the Whole Meeting Agenda Packet 2026-07-28 (AgendaPacket), dated July 28, 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?

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