Elko New Market looks at banking services

Patrick Fisher, Staff Writer

While it's been more than a year since Elko New Market became one city, the community in eastern Scott County is still dealing with the results of that merger.

The Elko New Market City Council considered banking services at its Thursday, June 12, meeting.

City Administrator Tom Terry explained that he and City Clerk Pat Nutt had been gathering information on various options with financial providers. They visited with local staff at New Market Bank, regional connections at Anchor Bank and national staff at Wells Fargo Bank.

Terry said the local bank staff knows and is willing to help the city. The regional and national banks services offered many of the same services with some differences.

Council member Carolyn Miller asked what differences Terry and Nutt noticed among the three banks.

Nutt said the regional and national banks could provide the city with direct deposit.

Terry said while he liked the in-house abilities a bigger bank can provide, he said when calling the local bank, the city staff can usually talk with a bank officer if one is needed immediately. He suggested a Request for Proposal (RFP) to allow the city to compare the three types of banks.

An RFP would be the best thing for us to see the advantages