Bulletin 2963 - December 4, 2020

State of Connecticut Department of Banking

The Department of Banking News Bulletin

Bulletin # 2963 - Week Ending December 4, 2020

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications.  Any observations you may have are solicited.  Any comments should be in writing to Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten business days from the date of this bulletin.

DEPOSIT INDEX AND INTEREST RATES

Pursuant to Section 36a-26 of the Connecticut General Statutes, the Commissioner has determined the deposit index for the calendar year 2021 to be 0.08%

The following rates are for the period commencing January 1, 2021 and ending December 31, 2021. The type of account and statutory reference are listed along with the rate.

Calendar Year 2021

Account

Statutory Reference

Interest Rate

Rental Security deposit

47a-21(i)

0.08%

Claims for property, funds, or money delivered to the State Treasurer

3-70a(e)

0.08%

Mortgage escrow accounts

49-2a (section requires that the interest rate be not less than the deposit index, rounded to the nearest one-tenth of one percentage point)

0.10%

Public service company, certified telecommunications provider and electric supplier customer security deposits

16-262j(c) (section requires that the interest rate be not less than the higher of the deposit index, rounded to the nearest one-tenth of one percentage point, or 1.5%)

1.5%

PLEASE NOTE: The interest rates provided herein are done as a convenience to the public; the Commissioner has no authority to establish interest rates beyond what is provided in statute. Accordingly, parties required to pay interest under these sections must ensure compliance with the applicable statute(s).

STATE BANK ACTIVITY

Merger

On December 2, 2020, the Commissioner approved the merger of Litchfield Bancorp and Collinsville Bank with and into Northwest Community Bank , all Connecticut banks and subsidiaries of Connecticut Mutual Holding Company, pursuant to Section 36a-125 of the Connecticut General Statutes.

STATE CREDIT UNION ACTIVITY

Main Office Activity

DATE: November 30, 2020

CREDIT UNION: American Eagle Financial Credit Union, East Hartford

LOCATION: FROM: 417 Main Street, East Hartford, CT 06118 TO: 361 Main Street, East Hartford, CT 06118

ACTIVITY-BRANCH TYPE: Filed to Relocate Main Office

Dated: Tuesday, December 8, 2020

Jorge L. Perez Banking Commissioner