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New treasurer-want to change banks

12 years 9 months ago #137351 by LaAng3
New treasurer-want to change banks was created by LaAng3
I'm the new 2007-2008 treasurer and I would like to change our account to another banking institution. I am very familiar with the one I want to change to and also use this Bank personally. I have researched both Banks side by side and prefer my own Bank still. My Bank offers an Interest checking and more free transactions as well as a business debit card. Also, I prefer the on-line site and banking options of my personal Bank over the current one being used by the PTO of our school. Obviously, convenience is a personal preference to use only one bank for my personal business and PTO business. The main difference is my Bank offers small business and non-profit vendor discounts. I feel this can be very beneficial in many ways. I have done all the research and printed out the information of both Banks. Now, how do I present this and to whom? The PTO President or the Principal of the school or both? I actually commented on the bank and prefering my own bank and was met with comments of "well, so-and-so, works at ____ bank". I received that as a negetive. I'm am not known to these other members and was nominated by myself which prompted the President to nominate me. I only got it because no one else wanted it and the previous treasurer did not want to do it again. I truly feel my decision to change banks is in our best interest as well as making my job more convenient. HELP!
12 years 9 months ago #137389 by Mom4ever
Stand your ground!! It needs to be presented to the pto committee during a scheduled meeting. Bring your findings to the table and state your case. Explain not only the convenience but the benefits it brings. We also changed banks a few years bank mostly due to benefits/debit card use. Three cards were issued; pres., vice pres, treasurer. Much easier to keep track of purchases. We also found it cut down on check writing and reimbursements. Feel free to add that to your list. Good luck.
12 years 9 months ago #137393 by LaAng3
Replied by LaAng3 on topic RE: New treasurer-want to change banks
I'd like to know the name of the better bank...our group soon to set up an account and the bank you mention with not for profit discounts and business debit as well as interest checking are what we are looking for...Thanks!
12 years 9 months ago #137634 by LaAng3
Hello New2Game

The Bank of my choice is BankofAmerica. I'm already a customer and compared the current Bank the PTO is using to mine and mine is the better one for our needs.

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12 years 9 months ago #137653 by OneandOnly
You need to speak to the President about the subject and present them with the information. Then the item must be placed on the agenda for the next meeting and the subject formally presented and discussed by the members. Although this is not something that needs a formal vote, I think that having the members included in the discussion would prevent anyone from an accusation that things were going on without knowledge of the membership.

Being in that position, you really need to be open about what you do. I would not, however, bring up the convenience it will bring you. You will not be in that position forever and it needs to be in the best interest for the PTO no matter who is Treasurer.

Doing it for my one and only ~~ my son!
12 years 9 months ago #137656 by njmom
We are in NJ and chose to switch to Commerce Bank for their convenience. Although I don't use them for my personal banking, their hours (7 days per week) and many locations made them a logical choice. I agree with OneandOnly that you need to think about the Treasurers that will follow you and think about what is best for your PTO. Look at all your local options before making a recommendation.
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