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Bank in Vermont

The Treasurer's Office invites Vermont banks to participate in a certificate of deposit (CD) program designed to support community banking, and earn a competitive return on state funds. On a predictable basis the Bank in Vermont program offers banks the opportunity to invest state funds through CDs, and via a competitive bidding process. The program is designed to be attractive to the wide range of banking institutions in Vermont, and is predicated on the belief that investing Vermont funds in Vermont, consistent with earning a competitive rate of return, is a good policy.

How the Program Works

Monthly, a block of funds set in specified time frames, based on the State's cash flow projections, and the yield curve at the time of the bid will be available in the scheduled bid. Some of the funds may be "short", i.e. not less than four weeks and up to 52 weeks. Depending on the interest rate environment, a portion of these funds may be put in one to three-year certificates of deposit. Over time, a "laddered" CD portfolio would be developed. Bids are solicited through the internet and email.

A brief RFP may be requested by email to Once the Treasurer's Office has reviewed completed applications, banks are pre-qualified and placed on a list of eligible institutions for a competitive bid program. Bids will be solicited by e-mail and the results posted on this web site.

Participation in this program is limited to banking and savings-and-loan institutions domiciled in or having branches within the boundaries of the State of Vermont. In addition, the banking institution must have a satisfactory or outstanding rating under the federal Community Reinvestment Act of 1977. The banking institution must also assert that it is in compliance with the State of Vermont Unclaimed Property Act (27 V.S.A. Chapter 18) and that it is in good standing with respect to, or in full compliance with, a plan to pay any and all taxes due the State of Vermont.