Orangeville is seeking proposals for its banking services in hopes of obtaining the most costefficient service.

To this end, the town has issued a call for proposals to local financial institutions with a closure date of June 23.

Currently TD Canada Trust handles the Town's financial services and a report from the Treasurer Wayne Church states the proposals are not being sought after because of any problems with the bank, but rather as a business

practice to determine other rates and practices that are being offered.

The Request for Proposal (RFP) document is going out to local banks and credit unions in town tomorrow. All aspects of banking and their related costs will be considered and the proposal with the lowest cost may not be the final selection.

The successful bidder is to remain as the Town's financial-service provider for five years, with a possible extension of an additional three years.