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Meeting Minutes

Blue Hills Trail Association, Inc.

November 26, 2018 12:00 PM

Meeting called to order by Ron Jasperson, president, at 11:00 a.m at warming house at the trailhead of the Blue Hills Trail.

Attendance

Officers in person: Ron Jasperson, Tom Paulsen

Officers providing input via email communication: Sam Behrends

Members:

Non-members:

Minutes

No pertinent minutes to review

Objectives

  1. Consider opening a new online savings account
  2. Consider closing our existing online savings account

New Business:

For several years, our savings account has been located at Capital One 360 online. After opening that account, for the first year we received a special interest rate in the vicinity of 2%. Currently that account yields an interest rate of 0.4%.

It seems that very few banks offer business savings accounts with a significant interest rate. However, recently Tom checked bankrate.com and found an online bank (First Internet Bank of Indiana) offering an interest rate of 1.8%. Ron, Sam and Tom agreed today that it makes sense to open a savings account with First Internet Bank (FIB); then after transferring our savings, close our existing savings account with Capital One 360.

Tom will submit the FIB new account application November 27th.


Meeting Adjourned

Motion to adjourn by Tom Paulsen, second by Ron Jasperson. Adjourned at 11:10 a.m.

Minutes

Taken by Tom Paulsen, Secretary