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Treasurer Schmidt developed the BidND program to give an opportunity for North Dakota banks and credit unions to increase their deposits. Each year, the Office of State Treasurer facilitates millions in CD investments for more than 20 organizations, including agricultural commodity groups and various trust funds. Financial institutions participating in BidND have the opportunity to bid on the funds managed by the State Treasurer. They will receive emails from the office when CDs are reaching maturity or new funds become available and are invited to place a bid on the CD investment.
Through BidND, North Dakota dollars are invested across North Dakota, putting them to work quickly, often in new loans that foster local growth.