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Algood Improving Interest By Moving Banks

Summary by News Talk 94.1/AM 1600
Algood will move millions of dollars into new bank accounts as part of a shift aimed at maximizing interest rates. Algood City Administrator Keith Morrison said $1.5 million dollars will be moved from the city’s general fund and $1.7 million from the utility fund to First Freedom Bank. Morrison said the bank will offer n interest rate of four-point-nine percent. He said the idle funds currently, could be doing more for the city. “We feel pretty …
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