City of Chelsea Investment Status Report March 2026
City Opens ICS Insured Cash Sweep With Chelsea State Bank
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Description
The City of Chelsea entered into an ICS Deposit Placement Agreement with Chelsea State Bank and opened an Insured Cash Sweep account on February 4, 2026. The ICS and checking accounts together have earned over $58,000 in interest year-to-date at a 2.17% APY.
Contract Details
Vendor
CHELSEA STATE BANK
Agency
Town of Chelsea, OK
Contract Type
FINANCIAL_SERVICES
Document Date
March 31, 2026
Contract Term
ICS account opened 2/4/2026; ongoing depository relationship
Renewal Info
ICS Deposit Placement Agreement establishes an ongoing insured cash sweep program with funds distributed across IntraFi Network banks; relationship continues until terminated or modified by the City or bank.
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