The Department of Banking News Bulletin
Bulletin # 2963 - Week Ending December 4, 2020
This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten business days from the date of this bulletin.
DEPOSIT INDEX AND INTEREST RATES
Pursuant to Section 36a-26 of the Connecticut General Statutes, the Commissioner has determined the deposit index for the calendar year 2021 to be 0.08%
The following rates are for the period commencing January 1, 2021 and ending December 31, 2021. The type of account and statutory reference are listed along with the rate.
PLEASE NOTE: The interest rates provided herein are done as a convenience to the public; the Commissioner has no authority to establish interest rates beyond what is provided in statute. Accordingly, parties required to pay interest under these sections must ensure compliance with the applicable statute(s).
The following rates are for the period commencing January 1, 2021 and ending December 31, 2021. The type of account and statutory reference are listed along with the rate.
| Calendar Year 2021 | ||
| Account | Statutory Reference | Interest Rate |
| Rental Security deposit | 47a-21(i) | 0.08% |
| Claims for property, funds, or money delivered to the State Treasurer |
3-70a(e) |
0.08% |
|
Mortgage escrow accounts
|
49-2a (section requires that the interest rate be not less than the deposit index, rounded to the nearest one-tenth of one percentage point) |
0.10%
|
|
Public service company, certified |
16-262j(c) (section requires that the interest rate be not less than the higher of the deposit index, rounded to the nearest one-tenth of one percentage point, or 1.5%) |
1.5%
|
PLEASE NOTE: The interest rates provided herein are done as a convenience to the public; the Commissioner has no authority to establish interest rates beyond what is provided in statute. Accordingly, parties required to pay interest under these sections must ensure compliance with the applicable statute(s).
STATE BANK ACTIVITY
Merger
On December 2, 2020, the Commissioner approved the merger of Litchfield Bancorp and Collinsville Bank with and into Northwest Community Bank, all Connecticut banks and subsidiaries of Connecticut Mutual Holding Company, pursuant to Section 36a-125 of the Connecticut General Statutes.
On December 2, 2020, the Commissioner approved the merger of Litchfield Bancorp and Collinsville Bank with and into Northwest Community Bank, all Connecticut banks and subsidiaries of Connecticut Mutual Holding Company, pursuant to Section 36a-125 of the Connecticut General Statutes.
STATE CREDIT UNION ACTIVITY
Main Office Activity
DATE: November 30, 2020
CREDIT UNION: American Eagle Financial Credit Union, East Hartford
LOCATION: FROM: 417 Main Street, East Hartford, CT 06118
TO: 361 Main Street, East Hartford, CT 06118
ACTIVITY-BRANCH TYPE: Filed to Relocate Main Office
Dated: Tuesday, December 8, 2020
Jorge L. Perez
Banking Commissioner
DATE: November 30, 2020
CREDIT UNION: American Eagle Financial Credit Union, East Hartford
LOCATION: FROM: 417 Main Street, East Hartford, CT 06118
TO: 361 Main Street, East Hartford, CT 06118
ACTIVITY-BRANCH TYPE: Filed to Relocate Main Office
Dated: Tuesday, December 8, 2020
Jorge L. Perez
Banking Commissioner