FINANCIAL_SERVICESONGOING

Council Retains $250K CD with Comerica Bank

The Memphis City Council chose to retain $250,000.00 in an existing certificate of deposit at Comerica Bank while moving remaining funds into standard bank accounts. An alternative 3‑month CD at a 4.10% rate from Comerica was voted down.

Status
ONGOING
Document date
December 2, 2025
Contract type
FINANCIAL_SERVICES
Vendor
Comerica Bank
Agency
City of Memphis city · MI

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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
$250,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Existing certificate of deposit, portion retained; term not specified
Renewal
Council rejected a new 3‑month CD at 4.10% from Comerica Bank but approved keeping $250,000.00 in the existing CD; original CD maturity date is not specified.
Document type
Minutes
Source document
City of Memphis Council Meeting Minutes December 2025

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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 Memphis city?

Comerica Bank was awarded this financial services contract by City of Memphis city, as recorded on December 2, 2025. The contract value is $250,000.00.

How much is the Comerica Bank contract with City of Memphis city worth?

The Comerica Bank contract with City of Memphis city is valued at $250,000.00, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Memphis Council Meeting Minutes December 2025 (Minutes), dated December 2, 2025 from City of Memphis city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Comerica Bank hold?

Comerica 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 Comerica Bank's profile

What is City of Memphis city currently buying?

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

View City of Memphis city's profile

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