Village of Los Lunas Council Meeting Agenda Packet April 2026
Village Considers CD Investment with UMB Bank
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Description
The Village of Los Lunas Council is asked to approve opening a $200,000 six‑month certificate of deposit with UMB Bank at a 3.25% interest rate. The CD would mature on September 13, 2026 and follow the bank’s standard time deposit terms, including automatic renewal.
Contract Details
Contract Amount
$200,000
Vendor
UMB BANK
Agency
Los Lunas village, NM
Contract Type
FINANCIAL_SERVICES
Document Date
April 23, 2026
Contract Term
Six (6) months, issue date March 13, 2026 to maturity date September 13, 2026
Renewal Date
2026-09-13
Renewal Info
Time deposit is designated for automatic renewal for a like term at a rate determined by UMB Bank, with a 10‑day grace period after each maturity to withdraw funds without penalty. Early withdrawal penalties apply based on the CD term per UMB Bank’s time deposit conditions.
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