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
Congressional Perks: House account spending jumped 21% in 2022
Everyday Economics: Rate cut debate: Reading mixed signals in a fragile economy
Arizona looks to legal immigration with Trump’s border security
Ranchers decry beef imports from Argentina, expert says good start
Mokena Park District Increases Spending Authority to Align with New State Law
Mokena Police Department Welcomes First K-9 Officer, Kong
Appeals court: IT firm can’t make insurer foot bill for $28M face scan deal
Mokena Approves ‘Emerald Social’ Restaurant and Outdoor Entertainment Venue
Lawmakers introduce bills to slash their own pay during government shutdowns
Trump considers military action to stop Christian genocide in Nigeria
94% of sanctioned scholars suffered from free speech attacks
Illinois soybean farmers face uncertainty amid MAHA push against seed oils
