(MENA) Members of the Mena School Board accepted bids on whom to place their Certificate of Deposit accounts with.
Board members Kyle Cannon and Phillip Wilson recused themselves from the process, due to conflicts of interest and left the room while their fellow board members considered the three bids.
The district received bids from Union Bank of Mena, Diamond Bank and First Financial Bank. In the end, Diamond Bank won the business with an interest rate of 2.52 percent interest on the CD’s.
The bank was also the recipient of the those same deposits last school year.