BidOhio News

Local bank secures state funds

From the Greenville Daily Advocate, August 15, 2008

GREENVILLE - Greenville Federal outbid 15 other banks recently for a piece of Ohio's interim funds in the BidOhio program.

Greenville Federal managed to secure a $2.5 million deposit from the state, which was rolled into a six-month Certificate of Deposit (CD). The money will increase Greenville Federal's loan capabilities and operating fund.

BidOhio runs its auction on the first Tuesday of each month, where $50 million dollars of unused state funds become available for bidding. Banks can bid every month, even if they have already won an auction.

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