Schools May Switch Where They Bank

Star Tribune.  April 12, 2012  

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Bank charges are only one criterion for the district’s choice of bankers. District policy also requires that a bank be a local taxpayer, make social and economic contributions to the community, be capable of managing the district’s cash flow, and have satisfactory deposit security, liquidity, and yields. Doty said he did not consider banking policies on foreclosure in his review.

Which banks get the district's payroll business depends on that combination of factors, but Doty listed TCF Bank and Bremer Bank as examples of local banks big enough to compete for the district’s payroll business. Doty said he wants the district to select the district's next payroll bank by July 1, and then consider whether to open the non-payroll banking to competition.  

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  • published this page in News at NOC 2012-04-13 00:02:10 -0500

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