Thanks, Russ.
Do they have a reason for why it can't be in the name of a business?
What do businesses do that want to make a safe investment like this?
Rory
On Fri, 5 Feb 2016 11:25:14 -0500, Russ Glidden wrote:
Good morning Rory,
thank you for being a good steward and your thoughts on
investing monies we will not commit ...at least for a year...I have had
a chance to speak with a number of people who move in the financial
circles ...including a friend who works for Raymond James Financial
Services here in Portland.....and they all have directed us to on-line
banking....locally it is a bust insofar as rates /yields are
concerned...the most attractive [safe] rate on a one year CD [that I
can find] is 1.3% with a minimum investment of $2500.00 [on-line
banking]....with one hic-up....The CD cannot be in the name of a
business but has to be an individual.
Having said all of this, many on-line banks do not offer CDs
to businesses. The best that we can do locally is in the range of
.25% given our parameters....and I have checked with Saving banks,
Commercial Banks and Credit unions.....It is the best that I can find
Russ
From: roryphoenix@xxxxxxxxxxxxxxxxxxx
To: Phoenixchoraleex@xxxxxxxxxxxxx
Subject: [phoenixchorale exec] bank balance and investments
Date: Thu, 4 Feb 2016 02:10:47 -0500
Hi Everybody,
After we pay Deirdre and David for todays rehearsal and all prior
sessions for which they had not been paid, our checkbook balance will
be:
$41,142.17
I expect this to increase with dues today. At 1.3%, a 1-year $20,000
CD would earn us $260. We should be considering what to do about
that. Jon said he would advise us if we asked. I know we have
experience on the Board, although no one has signed on to be our
financial adviser. Thoughts?
Rory
