Re: [802SEC] 802 Banking account proposal
I agree with Geoff's split of the issues for discussion, but also know
you don't want to move accounts twice because of the work required.
From: ***** IEEE 802 Executive Committee List *****
[mailto:STDS-802-SEC@LISTSERV.IEEE.ORG] On Behalf Of Geoff Thompson
Sent: Thursday, October 12, 2006 5:23 PM
Subject: Re: [802SEC] 802 Banking account proposal
There are two major elements to your proposal. I wish you would separate
them out and consider them separately and present them for consideration
1) Changing banks to a bank that is physically more convenient for you
hopefully for whoever else will need to interact with it , both now and
2) Changing from an 802 individual account to "Concentration Banking"
the IEEE. With whatever advantages and disadvantages there are to that
arrangement including having the IEEE choose the bank rather than 802.
Presumably they will have to presented for vote in the appropriate
At 02:49 PM 10/12/2006 , John Hawkins wrote:
>At the November plenary, I'd like to propose a motion, seeking your
>approval to change our provider for banking services. In advance of
>that, I thought I'd explain the rationale, and entertain your questions
>so the matter could be dealt with expeditiously at the closing EC
>I'm proposing we sign on with a new program IEEE is providing referred
>to as "Concentration Banking" where all societies/regions/conferences
>etc pool their funds. Some advantages:
> - We receive a more favorable interest rate (currently 4.94%)
> - The program provides for a Bank Card (similar to a debit card)
> should facilitate small purchase transactions.
> - The provider is Wachovia bank, so proximity to a physical branch
> no longer be an issue (US Bank's nearest location to me is
>- 4 hours away). Though instances are rare when I actually have to be
> a branch in person, it's a nice to have.
> - The program provides individualized banking statements with all the
> information we need to track transactions per our current practice.
> includes online facilities for monitoring account activity.
> - There are no fees associated with the account.
> - Transitioning the management of this account to my successor
> the lucky person may be :-) should be easier as physical presence
> bank is not required.
>More information is available at
>I'm happy to answer any questions or address concerns you may have.
>Look forward to seeing everyone in November.
> > john
> > Treasurer, IEEE 802 Executive Committee
> > Tel 770 708 7375 (ESN 268)
> > Fax 770 708 7376 * Email firstname.lastname@example.org
> > Mail 4145 Ivy Chase Ln, Suwanee, GA 30024
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