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News & Press Releases  /  STAR Plus

News

9/10/2012

WDTN: STAR Plus offers safe return on tax $

Greene Co. treasurer applauds program
Monday, 10 Sep 2012
Pam Elliot

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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Office Of Debt Mgmt
The Office of Debt Management plays an important role in the operation of state government: it oversees the borrowing of funds to assure it is completed in an efficient manner.
    

SaveNOW
SaveNOW, a program offered by the State Treasurer through our linked deposit authority, offers a 3% bonus interest on savings accounts for Ohio citizens.
    

Smart Money Choices
A free personal financial-planning conference series for all Ohioans presented by State Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.
    

Top-Bottom Review 2011
Review Outlines Steps to Improve Operations, Safeguard Investments, Leverage Technology, Increase Transparency and Modernize Banking Practices
    

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Veteran’s Preference provides veterans with priority to be accepted into the GrowNOW and Ag-LINK linked-deposit programs.
    

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A partnership between eligible banks and the Ohio Treasury, enables small business owners to receive a 3% interest rate reduction on small business loans for two years with the opportunity for renewal
    

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Small business owners, farmers and homeowners are eligible to receive financial assistance to rebuild and recover following an emergency.
    

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A program for farms to receive an interest rate reduction on new or existing loans or lines of credit up to $150,000. Applications are accepted on an annual basis from January through March.
    

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