United Community wins $1 million county CD bid

News
Cliff Bradshaw

HIAWASSEE, Ga. – Towns County Commissioner Cliff Bradshaw held a special called meeting Friday, June 1, to announce the acceptance of a certificate of deposit (CD) bid from United Community Bank in Hiawassee.

The county previously held a $750,000 CD with Park Sterling Bank, which was earning a 0.5 percent interest rate, and Towns County is adding an additional $250,000 to the investment.

“One of our CDs was coming up for renewal, so we bid it out between South State Bank and United Community Bank,” Bradshaw explained. “United Community won the bid with a higher interest rate. We did two CDs for a million dollars at $500,000 each.”

Towns County currently holds two additional certificates of deposits, one for $750,000 that will mature in September, and another for $1 million dollars, which will reach maturity in December.

Author

Robin H. Webb

Robin@FetchYourNews.com

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