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Industrial Board votes to consolidate accounts to Thread Bank, adds new signers
Summary
Board approved moving checking and savings accounts from US Bank to Thread Bank, citing higher interest and no online‑banking fees; new signers to be added after retirement of chairman.
The Hawkins County Industrial Board voted to consolidate its bank accounts to Thread Bank and to update authorized signers following the recent retirement of its chairman.
Board members discussed current accounts at US Bank and a certificate of deposit at Red Bank. A board representative explained Thread Bank offered higher interest on savings (reported in the meeting as about 2% versus 0.2% at US Bank) and would waive fees if the board used online banking. The proposal included adding newly elected chairman Patrick Lund and newly elected secretary‑treasurer Jeremy Jones as signers and removing the retired chairman and the previous secretary‑treasurer from active signatory authority.
A member moved to authorize the changes; a second was recorded as "Carrie" (identified elsewhere in the meeting as Carrie Jackson). After brief discussion, the board voted and the chair announced the motion carries. No roll‑call tally was given in the transcript.
Board staff noted the change would streamline accounts and increase monthly interest revenue on savings.
