FINANCIAL_SERVICESONGOING

Prior CD Cancellations at Somerville Bank Reviewed

Village officials discussed prior early certificate of deposit cancellations at Somerville Bank that led to about $5,000 in losses, seeking minutes to review those investment decisions. The discussion highlights historical investment contracts and penalties associated with the bank.

Document date · February 5, 2026

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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
~$5,000 loss noted from early CD cancellations
Contract type
FINANCIAL_SERVICES
Renewal
Past CD agreements incurred penalties upon early cancellation; no specific current renewal terms were discussed.
Document type
Minutes
Source document
Village of Camden Council Meeting Minutes February 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Camden village?

Somerville Bank was awarded this financial services contract by Camden village, as recorded on February 5, 2026. The contract value is ~$5,000 loss noted from early CD cancellations.

How much is the Somerville Bank contract with Camden village worth?

The Somerville Bank contract with Camden village is valued at ~$5,000 loss noted from early CD cancellations, 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 Village of Camden Council Meeting Minutes February 2026 (Minutes), dated February 5, 2026 from Camden village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Somerville Bank hold?

Somerville 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 Somerville Bank's profile

What is Camden village currently buying?

Explore Camden village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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