February 10, 2025
Andrea Miller
City of Richmond
450 Civic Center Plaza
Richmond, CA 94804
RE: Investment Policy Restrictions
Please accept this letter as confirmation that Mechanics Bank will comply with the City’s updated investment policy restrictions dated December 2024.
• The City will not invest in companies that develop and manufacturer commodities that facilitate violence, war, oppression, and apartheid.
• The City will not invest in companies that develop and manufacture arms and weapons. • The City will not invest in companies that develop, and manufacturer commodities involved in border and mass surveillance industries.
• The City will not invest in companies involved in mass incarceration and detention industries, nor those companies that use prison labor to manufacture products.
The accounts we have on file for the City are consider collateralized bank deposit accounts. We do not invest the City’s funds, only back the deposits with collateral per the public contract code.
Let me know if you have any additional questions. Thank you.
Sincerely,
Apryl DeMarco
Director of Government Banking, SVP
925-256-3036