Municipal Deposit AccountsA range of options for your unique needs
Mercantile Bank can help local governments, school districts and public funded entities streamline their banking.
Mercantile Municipal Deposit Account Options
An easy to understand account that provides liquidity, safety and interest by leveraging deposits already maintained at Mercantile.
- Avoid service fees by maintaining an average available balance of $35,000 or a combined average available balance in all deposit accounts of $50,000
- Free incoming and outgoing wire transfers
- Free unlimited activity including deposits, withdrawals and check writing
Municipal Certificates of Deposit (CDs)
Competitive market rates with the ability to obtain a higher rate for maintaining additional deposits.
- Variety of terms available (14 days to 60 months)
- Savings optoins that comply with Public Act 20 to ensure deposits are safe and secure
Please visit the Treasury Management Services page for additional solutions for municipalities. Mercantile has a full suite of competitive cash flow options to meet your financial needs.