Public Funds CDThe Public Funds CD Program is a joint effort of CBB and The Treasurer of Virginia established for the purpose of conveniently placing a portion of the Virginia state public funds with Virginia’s community banks. The offering is quarterly and the rate is determined at that time. The Treasurer of Virginia must certify a bank as being eligible to hold Virginia public funds before participation in the CBB program is permitted. Each eligible participating bank may receive up to an amount equal to 3% of total assets (maximum $20 million) under this program.
Banks interested in receiving additional information about the program and getting on the e-mail distribution list for the rate announcement for the next offering should e-mail Steve Kinnier at skinnier@CBBonline.com .