FINANCIAL_SERVICESAPPROVED

Borough of Berlin Awards $2,500,000 Financial Services Contract to Somerset Trust (July 2026)

Berlin Borough Council approved a seven-month certificate of deposit totaling $2,500,000.00 with Somerset Trust at an interest rate of 3.35% across seven municipal accounts. The action provides short-term investment of borough funds.

Document date · July 9, 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
$2,500,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Seven-month certificate of deposit
Renewal
Seven-month CD term at 3.35% interest; potential rollover or reinvestment options to be decided by council at maturity.
Document type
Minutes
Source document
Borough of Berlin Minutes Regular Council Meeting 2026-07-09

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Borough of Berlin?

Somerset Trust was awarded this financial services contract by Borough of Berlin, as recorded on July 9, 2026. The contract value is $2,500,000.00.

How much is the Somerset Trust contract with Borough of Berlin worth?

The Somerset Trust contract with Borough of Berlin is valued at $2,500,000.00, 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 Borough of Berlin Minutes Regular Council Meeting 2026-07-09 (Minutes), dated July 9, 2026 from Borough of Berlin. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Somerset Trust hold?

Somerset Trust 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 Somerset Trust's profile

What is Borough of Berlin currently buying?

Explore Borough of Berlin's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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