Intermediate Unit 1 Agenda Regular Meeting 2026-06-25
Somerset Trust Proposed as IU1 Depository Bank
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Description
Intermediate Unit 1 plans to name Somerset Trust as its depository bank for July 1, 2026 through June 30, 2027. The designation would authorize the institution to hold and manage IU1 funds during the fiscal year.
Contract Details
Vendor
SOMERSET TRUST
Agency
Intermediate Unit 1, PA
Contract Type
FINANCIAL_SERVICES
Document Date
June 24, 2026
Contract Term
July 1, 2026 to June 30, 2027
Renewal Date
2027-06-30
Renewal Info
One-year designation as depository for FY 2026-2027; future renewals to be set by subsequent board action.
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