Town of Cecilton Council Meeting Minutes December 2025
People's Bank Merger Impacts Town Accounts
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Description
People's Bank notified the Town of Cecilton that it will merge with a federal credit union and thus can no longer maintain the Town's municipal deposit accounts. The bank has arranged for another institution to continue servicing the Town's loan, avoiding the need for refinancing.
Contract Details
Vendor
PEOPLE'S BANK
Agency
Town of Cecilton, MD
Contract Type
FINANCIAL_SERVICES
Document Date
December 15, 2025
Renewal Info
Loan servicing will continue with a new bank arranged by People's Bank; existing loan terms remain in effect, though the depository relationship with People's Bank will end due to its merger.
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