LAKE OSWEGO, Ore. – The City of Lake Oswego has selected six banks -- the Bank of Oswego, Banner Bank, Northwest Bank, Pacific West Bank, Umpqua Bank and West Coast Bank -- to participate in its new Community Investment Deposit Program.
The City will deposit $200,000 in each bank, subject to ongoing FDIC insurance at the $250,000 level or listing as a State of Oregon Qualified Depository for Public Funds.
The selected banks have local or regional headquarter locations and meet program criteria -- they are federally insured, offer competitive rates and support a wide range of community organizations through financial sponsorships and volunteer time.
The City initiated the Community Investment Deposit Program with the goal of stimulating community investment and supporting the business community. The City looks forward to continuing to work in partnership with all Lake Oswego banks to grow local businesses and continue support of the events and non?profit organizations that are so essential to a healthy economy and strong community.