In February 2017, Treasurer Magaziner announced the launch of ‘BankLOCAL’, Rhode Island Treasury’s new community deposit program which will move up to $30 million in state deposits to local banks and credit unions.

BankLOCAL supports local financial institutions as they lend to small businesses in Rhode Island, supporting economic growth and opportunity in the Ocean State. In November 2019 Treasurer Magaziner announced that an additional $10 million would be available for BankLOCAL-matched deposits.

Visit the BankLOCAL main page here.