United Community Bank wins bid for county money market account

HIAWASSEE, Ga. – Towns County Sole Commissioner Cliff Bradshaw held a Special-Called Meeting on the morning of Friday, July 20, to sign a resolution pertaining to the transfer of a county money market account from South State Bank to United Community Bank in Hiawassee, where the the county will receive a higher interest rate return. “We know that it’s going to be a substantial amount of money,” Bradshaw said, “We’re going to gain quite a bit of money from doing this.” Along with the recent transfer of a certificate of deposit, Bradshaw sent the matter “out for bid” to ensure a maximum return for Towns County.

The money market account is used in conjunction with the county checking account which supplies funds for county operations. The transfer is expected to take place on August 1, 2018.

The commissioner added that he looks forward to reviewing the 2017 figures gained from sales tax revenue, expected in September. An amount of $48.7 million was collected during the previous fiscal year. With tourism steadily on the rise, Bradshaw hopes to receive an increasingly positive report.

Commissioner Bradshaw will hold his regularly monthly meeting at the Towns County Courthouse on Tuesday, August 21, at 5:30 p.m.

Meetings are open to the public.