City of Memphis city Awards Financial Services Contract to Choiceone Bank (July 2026)

The City of Memphis approved moving an existing CD at Choiceone Bank into a 9‑month CDARS account to secure a better interest rate before Bordman Road project payments are due. This action adjusts the city's investment strategy while retaining funds at Choiceone Bank.

Document date · July 21, 2026

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

9 months

Renewal

CDARS placement for a 9‑month term; renewal or withdrawal options will arise at maturity for Bordman Road expenditures.

Document type

Minutes

Source document

City of Memphis Regular Meeting Minutes 2026-07-21

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Memphis city?

Choiceone Bank was awarded this financial services contract by City of Memphis city, as recorded on July 21, 2026.

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 City of Memphis Regular Meeting Minutes 2026-07-21 (Minutes), dated July 21, 2026 from City of Memphis city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Choiceone Bank hold?

Choiceone Bank 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 Choiceone Bank's profile

What is City of Memphis city currently buying?

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