MTRC Bank Acct

[poolkeeper1]

After much ado over getting the Clubs Bank Acct changed over to the New Board We have Almost control of the Clubs money.
That being said I spent some time with the Regions Bank Manager and asked her to put us a Package together that will pay the Club Interest on the Money that we have Deposited in their bank that we never earned a penny on! It can only be an acct that will allow us to function as a club and pay our bills as needed but we will at least get some return on our Money.
We will also check out other Banks and Credit unions to see who will give us the best rate with the flexibility we need to operate without penalty from withdrawals of money needed to operate as a club.
Just wanted to update the members and let them know we are working on many things and as we achieve a goal we will inform you of the results.
Bill:wavehand:

 

[Pandarian]

Thanks Bill/Rick for getting all of this settled. I was just wondering... have you guys looked into money market accounts? There's a few banks here that have them, but I use Emigrant online. Other options are ING direct, HSBC Online, or Capital One IntrestPlus.... All have higher interest rates than traditional savings and you can transfer the money back into the checking account within 1-3 days.

 

[mixer911]

Thanks Donny,

Thats exactly what Bill is doing, getting them to give us some Money Market rates and move it to one. The last Board did not have access to most of the money because the BOD from 2009 had the money in a CD that matured around the end of Nov. of last year. CDs are the worst thing you could invest in right now, not to mention having it tied up and not accessable. CB&S bank gives 2.25% on a checking acct :eek1:up to $25,000.