frankfort-park-district.1

Park Board Secures 4.10% Interest Rate for District Certificates of Deposit

January 19, 2026/
Spread the love

Frankfort Park District Meeting | December 9, 2025

Article Summary: The Frankfort Park District Board voted to renew expiring Certificates of Deposit at a negotiated rate of 4.10% for a 13-month term. The decision secures favorable interest earnings for the district’s funds through early 2027.

Financial Key Points:

  • Rate Approval: The board approved a 4.10% interest rate for two 13-month Certificates of Deposit (CDs).

  • Maturation Schedule: The current CDs, holding a 4.18% rate, are set to mature on December 27, 2025.

  • Negotiated Terms: The bank agreed to honor a 9-month rate for the longer 13-month term.

The Frankfort Park District Board of Commissioners on Tuesday, December 9, 2025, voted to approve the renewal terms for the district’s maturing Certificates of Deposit (CDs).

District staff reported that the current CDs, which carry an interest rate of 4.18%, will mature on December 27, 2025. Reinvesting or allocating these funds required formal board action.

According to the finance report, the current market rate for a 9-month CD is 4.10%. However, the bank agreed to honor that rate for a longer term of two 13-month CDs. Staff recommended the board accept this offer.

During the discussion, Commissioner Elmer Gentry asked if staff would investigate the difference between a Money Market Rate and the proposed CD rate. Following the discussion, Commissioner Mark Ponton made a motion to approve the CD renewal at the 4.10% rate.

The motion passed with a unanimous 5-0 vote.

More Stories
Weather Full forecast →
⚠️ Special Weather Statement issued June 4 at 4:25AM CDT by NWS Chicago IL
Today Jun 3
Mostly Sunny
87° 66°

Mostly Sunny

💨 5 to 15 mph 💧 0%
Data: National Weather Service • Updated Jun 4, 8:00 AM Full Forecast →
Site Sections

Leave a Comment





Latest News Stories

Amended scooter, e-bike bill heads to governor

Amended scooter, e-bike bill heads to governor

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – The Illinois General Assembly has passed a bill to regulate e-bikes, scooters and other micromobility devices, but...
Washington insiders: Social media more influential than traditional media, but few trust it

Washington insiders: Social media more influential than traditional media, but few trust it

By ByTom JoyceThe Center Square Social media has passed traditional media in influence among Washington policy and political insiders, according to a new survey. However, few of those insiders trust...
Ceasefire being tested as U.S., Iran continue to exchange fire

Ceasefire being tested as U.S., Iran continue to exchange fire

By Sarah Roderick-FitchThe Center Square For the third time in a little over a week, the U.S. and Iran exchanged fire, adding more strain to the nearly two-month-long ceasefire. U.S....
Supreme Court declines to hear COVID-19 vaccine case

Supreme Court declines to hear COVID-19 vaccine case

By Andrew RiceThe Center Square The U.S. Supreme Court on Monday declined to hear a case challenging Washington state's COVID-19 vaccine mandate for healthcare workers. The case, Curtis v. Inslee,...
Supreme Court agrees to hear prisoner release case

Supreme Court agrees to hear prisoner release case

By Andrew RiceThe Center Square The U.S. Supreme Court agreed on Monday to hear a case over whether a federal prisoner can petition to expedite a prison sentence under federal...
New Jersey city faces curfew after violent anti-ICE demonstrations

New Jersey city faces curfew after violent anti-ICE demonstrations

By Chris WadeThe Center Square A nighttime curfew remains in effect outside of a New Jersey ICE detention center Monday after days of violent confrontations with demonstrators that prompted Gov....
Property tax-free Bears deal fails to pass

Property tax-free Bears deal fails to pass

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – The Illinois legislative session has ended with no stadium deal for the Chicago Bears. House Bill 958...
Illinois Quick Hits: Loyola student's alleged killer charged with new felony

Illinois Quick Hits: Loyola student’s alleged killer charged with new felony

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – Late Loyola University student Sheridan Gorman’s alleged killer has been charged with possessing a 6-inch shank in...
$55.9 billion budget includes new taxes, 'no property tax relief'

$55.9 billion budget includes new taxes, ‘no property tax relief’

By Jim Talamonti | The Center SquareThe Center Square (The Center Square) – The Illinois General Assembly has voted to approve a record-high budget for fiscal year 2027, with new...
Illinois to require bell-to-bell student phone ban in public schools

Illinois to require bell-to-bell student phone ban in public schools

By Sean Reed | The Center SquareThe Center Square (The Center Square) – Legislation to ban the use of cell phones by students from bell-to-bell officially passed both chambers in...
Election 2026: Stumps heavy with economy, crime in U.S. Senate race

Election 2026: Stumps heavy with economy, crime in U.S. Senate race

By Alan WootenThe Center Square Democrat and fifth decade politician Roy Cooper’s campaign to succeed Sen. Thom Tillis, flipping one of 53 seats in the U.S. Senate, is locked in...
Quintuple fatal in Virginia renews focus on English language in CDL licensures

Quintuple fatal in Virginia renews focus on English language in CDL licensures

By Alan WootenThe Center Square Jing Dong, a U.S. citizen after immigrating from China, will be charged with involuntary manslaughter in the quintuple fatal crash early Friday morning, State Police...
Everyday Economics: Jobs report to test how long consumers can keep carrying economy

Everyday Economics: Jobs report to test how long consumers can keep carrying economy

By Orphe DivounguyThe Center Square The jobs report is the main event this week. But the real question is bigger than payrolls. Can household spending keep holding up when the...
Congress returns to backlog of must-pass legislation

Congress returns to backlog of must-pass legislation

By Thérèse BoudreauxThe Center Square After leaving town for a week without sending a key immigration enforcement funding package to President Donald Trump’s desk, Congress returns Monday to a backlog...
Climate science without a notorious worst-case scenario

Climate science without a notorious worst-case scenario

By Morgan SweeneyThe Center Square The United Nations’ Intergovernmental Panel on Climate Change threw out one of its most extreme emissions scenarios last week, a major development in climate science...