Veg Fruits Unity

Minutes of June 11, 2013 Board Meeting

Eat To Live Food Cooperative
South Side Communications Center
2331 S. Salina St., Syracuse NY 13205

Minutes of June 11, 2013 Board Meeting

Board Members Present: Howie Hawkins, Yaschia Kinsey, Baye Muhammad, Shirley Rowser
Board Members Absent: Naqia Kent
Members Present: Joseph Bryant

Next board meeting: 6:00 pm, Tuesday, June 25, 2013

All decisions were made by consensus unless otherwise noted.

1. Approval of Minutes for May 25 and June 4

The minutes for May 25 and June 4 were approved.

2. Approval of Authorization of Account Signers

The board approved signing a form with a resolution drafted by Cooperative Federal authorizing Howie Hawkins, Yaschia Kinsey, and Shirley Rowser to be the authorized signers for checks on Eat To Live Food Cooperative’s account with Cooperative Federal. This resolution reiterates in a more detailed way the board resolution for the same purpose adopted by email vote on June 4.

3. Approval to Open Checking Account with Cooperative Federal

The board approved signing a form to open a checking account along with the savings account for Eat To Live Food Cooperative at Cooperative Federal.

4. Payment of Manager Search Services to Global i365

The board received an invoice for $3000 for the first third of the fee for manager candidate search services. The board authorized Shirley Rowser to issue a check for payment.

5. Marketing and Membership Recruitment

The board reiterated that it needs to prepare an updated Progress Report and other materials for members and prospective members.

6. Cash Flow on Construction and Start-up Working Capital

Joseph Bryant reported that $160,000 remains in the budget from grants after construction to cover staffing, marketing, equipment, and inventory for the co-op start up, though he cautioned that unforeseen construction cost overruns could diminish this amount.

7. Resolution Rescinding Decision to Open a Checking Account with Key Bank

The board agreed to adopt the resolution appended below rescinding the part of the board resolution of February 26 authorizing Eat To Live Food Cooperative to open a depository account with Key Bank for short term cash management purposes.

8. Letter to Cooperative Federal Requesting Field of Membership Status for Eat To Live Members

Howie Hawkins will draft and Shirley Rowser will sign a letter to Cooperative Federal requesting that Eat To Live Food Cooperative became one of Cooperative Federals fields of membership. This status will give Eat To Live Food Co-op members the membership benefit of being qualified to open accounts with Cooperative Federal.

9. Logo Copyright

Shirley Rowser will investigate copyrighting the Eat To Live logo.

Respectfully submitted,
Howie Hawkins, Secretary

Resolution Rescinding Decision to Open a Checking Account with Key Bank

Whereas,

  1. Eat To Live Food Cooperative had previously adopted a resolution on February 23 authorizing the opening of an account with Key Bank for short term cash management and with Cooperative Federal for long term savings and reserves,
  2. The people with whom Eat To Live Food Cooperative had previously worked at the South Salina Street branch of Key Bank are no longer employed there,
  3. Members report exorbitant and unreasonable bank fees charged by Key Bank and difficulty working with the bank to get them reversed when the bank is at fault,
  4. Key Bank has made no effort to communicate or help Eat To Live Food Cooperative as its store is being constructed close by on South Salina Street,
  5. Eat To Live Food Cooperative can do all of its banking with Cooperative Federal and is in discussions with Cooperative Federal about opening a branch of this credit union in the Eat To Live store which would make short term cash management even more convenient for the co-op,

Be it therefore resolved that Eat To Live Food Cooperative will not open an account with Key Bank for short term cash management and will use its accounts with Cooperative Federal for both short term cash management and long term savings and reserves.

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