Government Banking Solutions
At Northeast Bank, we stay focused on you. Not driven by fees, we consistently offer top-of-market rates and many services at no cost. Our team will listen and deliver customized banking services that meet your needs.
Banking Made for Government Entities
Maximize Interest Revenue
Northeast Bank helps cities, towns, utilities, school districts and other government entities make the most of their funds. We offer an indexed interest rate on liquid deposits to ensure competitive earnings and maximize interest revenue.
Our Government Banking team supports a full range of government entity needs from full deposit relationships to investment options for idle funds such as reserves, project funds or excess cash flow.
Secure Funds, Convenient Online Access
Northeast Bank is proud to offer extended FDIC insurance coverage for liquid and timed deposits via Insured Cash Sweep (ICS) and Certificate of Deposit Account Registry (CDARS) products.
Additionally, our secure online treasury services include payee positive pay and ACH filter/block for protection all day, every day.
High-Touch Personal Service
Government entities banking with Northeast Bank receive an assigned Relationship Manager who is supported by a dedicated Government Banking support team specializing in cash management and treasury services.
Our Government Banking team has decades of experience in government banking and financing, including a former State of Maine Deputy State Treasurer and municipal management experience across New England.
Public Financing for Priority Projects
Northeast Bank provides short-term financing to help balance out cash flow seasonality. Our offerings include Tax, Bond and Revenue Anticipation Notes, as well as, General Obligation Bonds for tax-exempt financing.
Credit Cards for Government Entities
Municipalities, schools, public utilities and nonprofits are eligible to apply to our credit card provider, Elan, for various card products, including purchasing cards. Our Government Banking team will work with you to determine the card best suited for your needs.
Online Sub-Accounting Platform
Our online sub-accounting platform, Escrow Manager, allows for easy accounting and management of funds.
Technology and Services to Help Government Entities
Online Cash Management
Manage your Northeast Bank accounts in real-time via secure online banking, including ACH, online wires, single sign on and more.
Remote Deposit and Courier Services
Northeast Bank provides both a remote deposit scanner and supporting courier service for free to government entities that are not near a banking center location.
Remote deposit customers receive same day credit for checks scanned as late as 6pm each business day.
Lockbox Services
Streamline payment collection with our lockbox service provider. Northeast Bank is proud to offer this service at a reduced cost to government entities (depending on service needs).
Community Grant Program
Apply for matching funds to support projects for underserved community members. We are proud to give back to our local communities.
Let's Get Started.
Our experienced government bankers are here to help.
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| Matthew Colpitts Senior Vice President, Dir. of Government Banking 207-514-1712 Send Email | Jason Simcock Senior Vice President, Senior Government Banker 207-514-1609 Send Email |