Mancelona Public School Board of Education Minutes Jan 2026
District invests $1M CD with Alden State Bank
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Description
Mancelona Public Schools invested $1,000,000 in a 3.75% certificate of deposit with Alden State Bank after an 8‑month MILAF CD matured, selecting the local bank following a competitive review of investment options. The move supports local banking relationships while maintaining favorable returns for district funds.
Contract Details
Contract Amount
$1,000,000
Vendor
ALDEN STATE BANK
Agency
Mancelona Public Schools, MI
Contract Type
FINANCIAL_SERVICES
Document Date
January 13, 2026
Contract Term
3.75% certificate of deposit (CD); 8‑month prior MILAF CD mentioned as maturing
Renewal Info
Single CD investment following maturity of a prior 8‑month MILAF CD; no explicit renewal or rollover terms disclosed.
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