A new, local bank is set to be the county’s provider of financial services for the next four years.
At last week’s meeting of Commissioner’s Court, the county commissioners voted to bank with Citizen’s State Bank, leaving behind BBVA Compass. Jessica Herrera spoke in place of county treasurer Janice Trant. And she pointed out a major concern of theirs with Compass was the banking fees they have to pay.
Another concern with Compass was the high turnover rate they have experienced in recent times. Compass, she added, has a 2 percent interest rate, but also has numerous banking fees, of which equate to about $23,000 per year.
Herrera then mentioned one of the big pros of banking with Citizen’s State Bank – no banking fees.
Another big pro with Citizen’s that Herrera mentioned was them being a local bank, with a home office in Somerville.
Herrera said they were leaning toward going with Citizen’s, but said they would respect the court’s decision. The Commissioner’s unanimously decided on going with Citizen’s State Bank.
