Fire District Inks New Banking Agreement with Old Plank Trail
The Mokena Fire Protection District Board of Trustees has approved a new two-year banking agreement with Old Plank Trail, a move aimed at securing favorable rates amid a volatile market. The board voted unanimously in favor of the new contract at its June 10 meeting.
The district’s current agreement was set to expire next month. According to Fire Chief Joe Cirelli, the new terms are very similar to the expiring ones, providing continuity for the district’s financial operations.
Under the new agreement, the administration fee will see a slight increase from 0.11% to 0.14%. However, the district’s Earning Credit Rate—which can offset banking fees—is locked in at 0.50% through July of 2026. Chief Cirelli told the board this was a positive outcome.
“With the current rate volatility, this is good,” Cirelli stated in his recommendation to approve the agreement.
The new contract will run from August 1, 2025, through July 31, 2027. The motion to approve the agreement, made by Trustee Craig Warning and seconded by Trustee Dennis Burkhardt, passed with a unanimous roll call vote.
Mostly Sunny
Latest News Stories
Illinois Quick Hits: IDOT says all 102 counties to have transit
Poll: Taxes, economy top voter concerns
Murphy, Dhillon go to bat for players in baseball’s Pride Night black eye
Republicans compete to face Neguse in congressional race
Vance says ‘progress’ made in talks with Iran
Report: Eight Michigan counties among most vulnerable to Social Security cuts
Illinois Quick Hits: Tornado kills 2 in Jefferson County
‘Half-baked’ Illinois social media tax poised to tee up court challenges
DHS thwarts Iranian terrorist threats at the northern border, World Cup ties
Everyday Economics: A new chair, a shorter statement, a Fed that stopped talking cuts
Illinois congressmen worry as DHS Secretary seeks to ‘protect election integrity’
Poll: 70% of Americans ‘concerned’ AI will take jobs
