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Bank sale forces Calipatria to seek different provider

June 13, 2001|By MARIO RENTERÍA, Staff Writer

CALIPATRIA — The city's one bank, Borrego Springs Bank, has been sold, forcing the city government to seek a different banking provider.

The bank that was providing banking services to the city government has been sold to Government Agencies Federal Credit Union.

Since Borrego Springs Bank has no other branches in the Imperial Valley, the city must seek a different provider.

Councilwoman Thelma Baker said the city has three financial institutions interested in servicing the city government: Valley Independent Bank, GAFCU and Imperial Federal Credit Union.

She said the city has not made a selection, but said the city must make a decision by the end of the month.

Borrego Springs Bank will hand over the building in early July.

The council directed City Manager Romualdo Medina Jr. and city Finance Director Katy Lopez to enter into agreement with the bank that best suits the city's needs.

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Staff Writer Mario Rentería can be reached at 337-3435.

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