1. IEEE Consolidated Bank Account A good thing! R. Kane 2/23/2002

2. Consolidated Banking - Topics for discussion What it is – the Consolidated Banking Program Why – Benefits are real, detractors insignificant How – Just in case you want to make things easier

3. Consolidated Banking Mellon Bank, Pennsylvania Maria Vuolo, IEEE administrator (m.vuolo@ieee.org) Very helpful, responsive She also returns monthly printed statements with cancelled checks Consolidate money for more benefits –No bank fees –Internet access for viewing account details –Higher interest rates (variable, 2% last look) –Signature Cards easier to manage –IEEE admin on signature cards – REQUIRED on all Accounts regardless! Meets financial reporting requirements of the IEEE

4. Consolidated Banking - Programs Checking Account Open to Geographic Units – Chapters and above Investment fund Open to Sections and above Minimum of $1000 Funds must remain on deposit 6 months, 30-day notice for withdraw Makes sense for the Section, possible to consolidate our funds?

5. Checking Program Details Simple enrollment A couple of contact and signature cards to be filled out Webpage access: http://www.ieee.org/services/financial/treasury/concentration.html –Requires IEEE web account to access secure website Or go to the IEEE main page and search for “CBRS” and use the link to the “…more information on the consolidated banking program…”

6. On-line Statement

7. Detractors… There has been some concern expressed about Headquarters having too much control… –Remember… IEEE National is the parent corporation, what we have is really the assets of the Corporation IEEE is supposed to operate responsibly with the interests of the corporation at the forefront… (…so we have a >$10M deficit coming…) Survival of the corporation is a legal responsibility, our obligation is to support the corporation.

8. How to do it… A few forms are necessary: –Instructions Contact Form – Treasurer or other contact Authorized Check Signers (IEEE) Mellon Bank Signature Card

9. Signature forms PDF files available I can email them We’ll put them on the website Printed Forms right here!