While David (Treasurer) and Nathan (President) were at our bank updating access and creating the board approved checking account for our Inspire Olympia funds, it was suggested that we open a Credit Card that would give us protections a debit card does not in the case of online purchases.
The motion is made by email and a quorum have responded yes (David, Gail, Camy, Lynn). There were no descents. The motion was to open a Credit Card. Noting that the credit card has no fees and 1.5 percent cash back. It is our intention to pay it off immediately after transactions.
In other banking updates:
- We transferred $2000 in to the new checking account for grant purchases, as items are reimbursed, not prefunded.
- We transferred another $2000 from savings in to a CD yielding 4.76% for a 5 month term. We will be notified before it expires and either roll it in to another CD or put it back in savings.