[SBU Board] Report on CD

[Mike Christensen]

Sounds good!

Cheers,
Mike
________________________________
From: Sbuboard <sbuboard-bounces+quirk_1=hotmail.com at mailman.celestial.com> on behalf of Monty Gray <mlgrayjr at gmail.com>
Sent: Monday, December 10, 2018 8:29 AM
To: Seattle ACBL Unit Board
Subject: [SBU Board] Report on CD


As the board authorized at its last meeting, we have cashed in the Key Bank CD and placed $35,000 of the Unit’s money in a new account that we opened in the name of the Unit at Charles Schwab & Co.  We have invested this money in an FDIC-insured CD issued by Wells Fargo that will mature in two years, on December 14, 2020, and pays interest at an annual rate of 3.1%, or $1,085 per year.  The old Key Bank CD, which was in a lesser amount, paid interest of about $100 per year.  Thanks to Larry for suggesting that we explore alternatives.



Approximately $15,000 remains in the Unit’s checking account at Key Bank for day-to-day needs.



Monty Gray


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