Yvonne Jonas is the New Palestine Clerk Treasurer
NEW PALESTINE — As the person in charge of keeping an eye on New Palestine’s money, Clerk Treasurer Yvonne Jonas says she’s always looking for ways to help town officials save money. After some prolonged conversations with banking officials, Jonas informed her council during its recent meeting that she wanted to change banks.
For years, the town has worked with Merchants Bank to handle their banking needs, but Jonas said she found a better deal with a local business, Greenfield Banking Company, and suggested the town changes banks as soon as possible.
Jonas said officials with Greenfield Banking have been talking with her office and during a recent visit they offered a deal too good to pass up.
“They basically offered everything we currently have banking-wise, but they will not charge us the fees we’re currently being charged, which is about $600 to $700 a month,” Jonas said. “Plus, they are offering us more interest, so it’s pretty clear as the clerk treasurer it’s my duty to do what is right for the town.”
Jonas noted she’s been holding off on making a banking decision because switching banks is a difficult thing to do.
“It’s a huge job,” she said. “We’re going to have to change information with the state and the feds.”
Council Secretary Chad Molinder said the decision seemed pretty logical particularly due to the fact the town can save a great deal of money on fees.
“Just saving $600 to $700 (a month) is around $8,000 a year,” Molinder said. “To budgets anywhere, that’s a huge win, and if they are increasing the interest for us that’s an increase because we do carry a pretty large balance with all we do.”
Molinder also liked that Greenfield Banking Company is a Hancock County bank, and there is a branch located in New Palestine off of U.S. 52.
“To me, that sweetens the deal,” Molinder said. “It has to make sense financially, but it sounds like they’re willing to work with us and we can also have a personal relationship with them, so I think it’s a no-brainer.”
Council Vice President Bill Niemier and Councilman Ryan Hartley agreed, saying the savings on fees is reason alone for making the move. The council approved a measure, 3-0, to allow Jonas to start exploring the change and make the actual bank account change as soon as she is able. Niemier, Molinder and Hartley voted in favor of the bank account switch. Council President Teri Reed and Councilman Ethan Maple were not able to attend the meeting.
Jonas said she had already opened a credit card for the town with the Greenfield Banking Company and now she will slowly start to make account changes. That will include transferring funds and switching accounts they do business with, one at a time.
“We’ll have to have both accounts in place for a while because some of the monies we get come once a year,” Jonas said.
