Special Called Meeting Town Board Cleveland NC - New Bank and Maintence Employee July 2022

Cleveland, NC town board had a special called meeting today Thursday 7-21-2022 at the town hall. All elected officials were in attendance.

The meeting started with Mayor Pat Phifer saying that he would like for the town to change banks from First Horizon to F&M. F&M is a local bank with branches across the county. First Horizon is not local and has had at least three buy outs recently according to Phifer.

F&M will charge some fees that First Horizon has not while F&M will pay interest on some accounts that F&M has not. 

"It's probably not a nickel difference," said Phifer. 

Phifer went on to say that the town needed the protection offered by F&M which is not an option with First Horizon. He explained that the town would pay "maybe $25 extra" a month for security which covered things like being hacked. Phifer said that hackers are currently using checks to get information to drain accounts and that churches are a prime target. He said that was "a fast track to hell." 

Commisioner Travis Summitt said that he liked that F&M was local and that they were community minded.

Phifer said that he had approached First Hoizon about helping with something in the community and they said that they had already given to Salisbury.

The vote was unanimous to change to F&M bank which should take 45 to 60 days. 

Commissioners went into closed session concerning personnel.

After the closed session, Phifer said that Darrell Dakin was hired for maintenance pending required tests. He will start at $16/hour.

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