FINANCIAL_SERVICESAMENDED

TowneBank Improves Terms on EDA Money Market Accounts

The Norfolk Economic Development Authority negotiated amended terms with TowneBank for its money market accounts, securing higher interest rates and reduced fees. These changes improve returns and lower costs on the Authority’s banking relationship.

Status
AMENDED
Document date
May 6, 2026
Contract type
FINANCIAL_SERVICES
Vendor
TOWNEBANK
Agency
Norfolk Redevelopment & Housing Authority · VA

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TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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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
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Scope & details

The full contract record, as filed.

Contract type
FINANCIAL_SERVICES
Renewal
Existing banking services agreement updated to provide higher interest on money market balances and reduced account fees; no explicit renewal date provided.
Document type
Minutes
Source document
Economic Development Authority of the City of Norfolk Meeting Minutes 2026-05-06

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Norfolk Redevelopment & Housing Authority?

TOWNEBANK was awarded this financial services contract by Norfolk Redevelopment & Housing Authority, as recorded on May 6, 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 Economic Development Authority of the City of Norfolk Meeting Minutes 2026-05-06 (Minutes), dated May 6, 2026 from Norfolk Redevelopment & Housing Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does TOWNEBANK hold?

TOWNEBANK may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Norfolk Redevelopment & Housing Authority currently buying?

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