WDTN: STAR Plus offers safe return on tax $
Greene Co. treasurer applauds program
Monday, 10 Sep 2012
XENIA, Ohio (WDTN) - Local governments, schools, and libraries are looking for any return on your tax dollars since there are fewer dollars to go around. Since they can't afford risky investments, this year entities like Greene County are taking advantage of a new program that strives to keep Ohio public funds in Ohio community banks.
It's called STAR Plus and it's made possible through stage legislation that had bi-partisan support. The program is endorsed by State Treasurer Josh Mandel who visited Greene County's treasurer's office Monday morning. Mandel and Dick Gould agree everyone wins with STAR Plus.
The program works like a certificate of deposit, but governments can take out money weekly as needed without penalty.
Right now Greene County has $15 million invested at an interest rate of .25%. That might not seem like much but there is virtually no risk because there is FDIC protection.
Gould said, "The fact that this program will allow us to generate better yield with the safety of FDIC insurance shoots STAR Plus to the top of attractive investment options for our country."
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