A FEW TYPOS ON THE PREVIOUS E-MAIL

Good Morning…

I guess that our club, the Senior Investment Club of Greensboro NC , acts its age.

We have been in existence for over 40 years. We have now 16 members which is about  the desired amount.

In order to cut down on paper work, in recent years we changed our payments from monthly to quarterly to semi annual.ly.

We meet monthly and when payments are due all members bring in their checks and they are mailed en masse to Chas Schwab.

We meet the first Tuesday in each month and the valuation date is the last day of  the previous month.

If a member forgets to bring his check I wait few days for receipt and then mail the checks.

I the rare instance t that a member is sick or away and is unable to send in his check, I send in all of the checks  I have and when he sends his in we also value it on the last day of the previous month,.

Since  all member’s pay the same dues This keeps out valuations  the same.

Although the idea of having a 1 cent differences in checks for identifications is a good idea, I keep a record of checks numbers and have never had a problem .

Arthur Klages

Treasurer

Ryan,
I have a schwab account with a club. All deposits are automatic from each member. Yes, the members have to be added BUT that does NOT mean that they have FULL access to the account. Ask a few more questions. You can also visit your local office and introduce yourself to your consultant. They can be helpful when issues arise
Only two members of our club have the ability to make trades etc.

There is only one drawback to this.  Whenever there is a problem with accounts, a check book is stolen, etc. new paperwork needs to be signed and filed. Also I think the insufficient funds fee is $35.00 from Schwab.
I'm very happy with the service I receive from Schwab.

Cherilyn Peay
New Mexico


At 05:04 PM 4/13/2009, you wrote:

Hello,
   We were
told by Charles Schwab that the only way to initiate the
automatic deposit is to add everyone to the account which is
something we do not want for obvious reasons. 
Ryan

Cherilyn J. Peay
PO Box 1408
Bernalillo, NM  87004-1408
(505) 867-4379
(505) 867-4224 fax