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Lake Sunapee Bank values its relationships with local municipal governments. We offer a variety of services to towns in our market area, and work hard to provide financing packages and deposit products tailored to your needs.
Make deposits from your desktop! This technology offers towns the ability to make deposits to their accounts quickly and efficiently without leaving the office. This is particularly helpful during periods of high activity.
Many town functions occur outside normal business hours. Online banking offers the convenience of transacting town business at night or on weekends. It offers quick, immediate access to information often needed during meetings or discussions. You may assign different levels of authority and access to multiple employees, send wires and initiate ACH transactions, including payroll direct deposit.
Tax payments are an annual or semi-annual event in most towns, but the business of running the town is a daily occurrence. Lake Sunapee Bank Tax Anticipation Notes are unsecured, open-ended, revolving line of credit loans that provide funds to pay ordinary operating costs. The principal may be borrowed, paid and re-advanced as needed, but these Notes do not require any payment until maturity.
Need a new ambulance, police cruiser, safety equipment or fire truck? We offer flexible repayment schedules and very competitive rates.
We offer construction financing and permanent funding to build/renovate town facilities with terms, fees, and rates that are competitive with the Muncipal Bond Bank.
CDARS® (Certificate of Deposit Account Registry Service®) is the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement, earn one interest rate, and receive one regular statement.
Maximize excess funds with an overnight repurchase agreement, earning interest while reducing or eliminating service charges. Municipal funds in excess of the FDIC insured limit may be collateralized by the pledge of qualifying securities.
For our municipal customers' employees, Lake Sunapee Bank offers our Paychek Plus program. At no cost, those employees may open a free checking account with no minimum balance, receive a complimentary order of basic checks, have the use of an ATM/Visa debit card, free Telebanker® telephone banking, online banking, bill pay, e-Statements, and much more!
For more information, call 800-281-5772 today and ask for a Municipal Banking representative or send us an email.
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