Community Banking Program
BIG NEWS! Beginning January 2026, financial institutions are allowed to bid on a two-year term!
The Treasurer's Community Bank and Credit Union Initiative was established to support Connecticut's community banks and credit unions and to enhance their ability to promote the economic and social health of the communities they serve. These financial institutions offer locally-originated loans to individuals and small-to-medium sized companies and provide locally-oriented banking services in underserved markets. Connecticut General Statute 3-24k and 3-24l, a result of legislation proposed by the Treasurer's Office, allows the Treasurer to establish a program for the investment of up to $300 million with community banks and credit unions. The Treasurer's Office is pursuing this initiative in recognition of the valuable roles community banks and credit unions play in their communities.
Under the initiative, community banks and credit unions as defined by Connecticut General Statute 3-24k and 3-24l not exceeding an asset cap are eligible to compete for a targeted pool of investments in the form of certificates of deposit. Beginning September 30, 2024, the $2 billion asset cap is adjusted annually to reflect the increase in median loan growth of eligible institutions. The asset cap as of September 30, 2025 is $2.295 billion.
Please review the program guidelines, along with the required investment and security agreements to learn more about the program.
Recent Results:
| CD Amount | Bid Date | Settlement Date | Maturity Date | Winning Bids |
| $3,000,000.00 | December 04, 2025 | December 05, 2025 | March 06, 2026 | 3.812% |
| $3,000,000.00 | December 04, 2025 | December 05, 2025 | September 04, 2026 | 3.7% |
| $2,000,000.00 | December 04, 2025 | December 05, 2025 | September 04, 2026 | 3.650% |
Since May 2006, investments in the Community Bank and Credit Union Initiative program have totaled $808.5 million.
Bids are compared based on interest paid at maturity. For consistency, the Treasurer's Office recalculates yields by the following method: interest at maturity divided by investment amount, times 365 days, divided by investment term, times 100.
Next Competitive Bidding Auction
Thursday, January 08, 2026 between 8:00 and 9:30 a.m. (see Bid Schedule below).
Financial institutions may bid on three, six, nine and twelve- month certificates of deposit, per the table below. Contact Marc Gagnon or Jan Hong for additional information. Financial institutions should feel free to bid on multiple pieces and may limit their maximum investment by indicating the largest total amount they would like to receive.
Bid Schedule:
| CD Amount | Bid Date | Settlement Date | Maturity Date |
| $5 million | January 08, 2026 | January 09, 2026 | April 03, 2026 |
| $5 million | January 08, 2026 |
January 09, 2026 | July 10, 2026 |
| $5 million | January 08, 2026 | January 09, 2026 | October 09, 2026 |
| $5 million | January 08, 2026 | January 09, 2026 | January 08, 2027 |
| $5 million | January 08, 2026 | January 09, 2026 | January 07, 2028 |
Documents for Banks
The agreements below must be returned and approved by the Office of the State Treasurer, Short-Term Investment Unit in order to participate in a competitive bidding auction.
Bank Investment Agreement
Bank Security Agreement
Bank Bid Form
Documents for Credit Unions
The agreements below must be returned and approved by the Office of the State Treasurer, Short-Term Investment Unit in order to participate in a competitive bidding auction.
Credit Union Investment Agreement
Credit Union Security Agreement
Credit Union Bid Form