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.
Sunny
Latest News Stories
WATCH: Gun ban with SCOTUS; ICE enforcement pushback; End of life options bill with gov
Park Board Advances Tax Levy Plan and Sets Public Hearing for November
U.S. Supreme Court takes up Michigan foreclosure case
Grand jury declines to re-indict Letitia James
U.S. Supreme Court upholds Texas’ new congressional maps
In last four years, five northern states saw most illegal crossings
Report: Hegseth violated multiple protocols and federal law in ‘Signalgate’
Illinois quick hits: Another attack on CTA passenger; plaintiffs move to dismiss their ICE use of force case
Some push for FDA approval of psychedelic treatments for veterans
WATCH: Pritzker: ‘No’ to state taxpayer-funded guaranteed income
WATCH: IL congresswoman willing to withhold highway dollars over CDL issues
Disability group, coroners press governor ahead of assisted suicide decision
