mattawan-village-regular-council-meeting-agenda-july-28-2025_154.pdf
DDA invests $450,000 in CD at local bank
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Description
The Mattawan DDA authorized investing $450,000.00 in a six‑month certificate of deposit with Kalamazoo County State Bank at a minimum 3.8% APY. This action reinvests DDA funds to earn interest while preserving capital.
Contract Details
Contract Amount
$450,000.00
Vendor
KALAMAZOO COUNTY STATE BANK
Agency
Mattawan village, MI
Contract Type
FINANCIAL_SERVICES
Document Date
July 28, 2025
Contract Term
6-month CD at minimum 3.8% APY
Renewal Info
Single 6‑month CD term; may be reinvested upon maturity subject to future DDA approval.
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