Newtown News of Interest
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Scooped by johnmacknewtown
onto Newtown News of Interest
January 28, 7:51 AM
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#NewtownPA Township Looking for a New Bank

#NewtownPA Township Looking for a New Bank | Newtown News of Interest | Scoop.it

The Township intends to award the contract for banking services to the banking institution that submits the highest quality proposal, including technical support for computerized cash management reporting and services. In determining the highest quality proposal, the Township will evaluate the following criteria:

 

  1. Cost and flexibility of proposal
  2. Interest earnings for Newtown Township
  3. Banking services
  4. Banking reporting to the Township
  5. Banking institution’s creditworthiness
  6. References of other municipal clients
  7. Location of banking institution’s banking branches in relation to the Township’s offices

 

Get the details here...

 

johnmacknewtown's insight:

 

Why is location close to township offices a criteria?

 

Newtown supervisor Phil Calabro has often complained about Newtown's current bank: TD Bank -  a foreign (Canadian) bank. At the 14 February 2024 BOS meeting, Mr. Calabro gave his reasons: "We have a lot of local banks in the area but we're doing business with Toronto Dominion Bank which if anyone searches Google for Toronto Dominion Bank they will see an abundance of scandals that that bank has been involved in from Ponzi schemes to pay pay for play. So I don't know why we're doing business with this bank."

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Newtown News of Interest
These Scoops are excerpts from articles published in local newspapers and other sources that may be of interest to Newtown area residents. Please click on the "From" link to access the full original article. Any opinions and "insights" appended to these article summaries are solely those of John Mack and do not represent the opinions of any other person or entity.
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