Press Releases

July 16, 2007
Treasurer Schmidt: BidND Program Benefits West Fargo

Contact: Lisa Anderson (701) 328-2643

Bismarck, ND – State Treasurer Kelly Schmidt announced today that West Fargo has recently received $99,000 in investment dollars through BidND, an investment initiative developed and administered by Schmidt.

Introduced in July of 2005, BidND has touched nearly 60 North Dakota communities and has invested close to $6 million in financial institutions across North Dakota. BidND invests custodial funds, such as funds from the Veterans Post War Trust Fund, Children’s Trust and investments from over 10 agricultural commodity group funds, in financial institutions across the state.

Schmidt seeks rates of interest from banks and credit unions, awarding the funds to the institution that can offer the highest rate of return. “We are investing North Dakota dollars in North Dakota, for the people of North Dakota,” Schmidt said. “By doing this we are able to maximize the return on our investments and help North Dakota grow.”

Other financial institutions to recently participate and receive BidND dollars are located in Parshall and Hankinson.