State Treasurer opens new public deposit program to credit unions and homeowners

Published by: Jared Weiser

September 6, 2023 | Government Affairs

Expanding credit union access to state programs is crucial to serving over 3.2 million Ohioans. Linked deposit programs allow the state to partner with credit unions to offer members the best possible interest and savings rates. The Ohio Treasurer uses linked-deposit programs to deposit state investment dollars with a lending institution at a below-market rate of return. The institution then agrees to pass the savings on to the borrower through a lower interest rate. As a result of relentless League advocacy, credit unions now have access to all linked deposit programs, including the new Homeownership Savings linked deposit program. This new program will go live on Jan. 1, 2024, and the first step in the process is for your financial institution to become an approved public depository. Act today to ensure your credit union is ready to offer members these valuable programs next year.

Contact Jared Weiser for questions or assistance.

Jared Weiser
Jared Weiser Director, Legislative Affairs E:
Contact Us

Other Movement News

Government Affairs

Advocacy on track at Churchill Downs

Ohioans and communities are best served when credit unions and regulators work together to cultivate a financial services industry that puts people first. That is why the Ohio Credit Union […]

League advocates for an updated CTR threshold

Constantly increasing regulatory pressures put a strain on a credit union’s resources and ability to focus on what matters most: serving members; thus, the League is always looking for opportunities […]
Member Benefits

Unlocking Strategic Insights with Peer Suite

Data-driven decision-making is paramount for credit unions striving to grow and better serve their members. Recognizing this need, the League offers Peer Suite as a powerful member benefit. This comprehensive […]