the bank that was within our area was changed to a bank out on long island, we are in Westchester.
the auto debit form that was mailed out to people who wished to continue using it and to encourage new payments via this direct method seemed a bit shady to me. The spaces for the bank name and all identifying information of this bank in long island were left blank, with instructions that the management company will fill it out. There was no mention on this form where the bank was or the bank name or account.
However on the monthly maint bill there was an account # and po box in long island, but no bank name. The maint bills for the last 25 plus years had the bank name and account number.
i asked my electronic check writing service to see which bank cancelled the check, they said there was no bank name just an account number.
I told them this seemed weird, They said they couldn't tell me anymore info, all they had was an account number. i forget how i did it, but i found out the bank name, i must have used a web search. i found out that this bank has offices in Westchester, it is a commercial bank.
The board president lives on long island, in violation of the proprietary lease for shareowners.
so this seemed something that i had to look into, especially after the mortgage bs, where the coop president was an investor in the mortgage bank and the managing company owner was on the board of directors of the bank. They swore that it was perfectly legal, even did so in the annual minutes, because i raised the question. however i posted the circumstances to the cooperator magazine and they printed my poorly worded question, and stated, no/negative, that this was not proper and could even be worse.
the key issue was whether he recused himself from the dealings. since i had asked other board members what was going on with the new mortgage a couple weeks before, they stated they knew zero, even though they were the treasure.
So the whole loan was worked out by the president/investor, from the bank that the managing company owner sat on the board.
The president is super controlling and refuses to fill in the other BOD on what is going on until it is ready for a vote, no due diligence here, but the BOD is ?, i did ask a couple BOD members why the bank was transferred to long island, what the name of the bank was , and who had check signing powers.
They said they didnt know and even said they didnt see any reason why there was a need to know.
The president and managing company{investor relatioship} disregarding the by-laws, changed the voting method that had been in place for over 15 years. It was the voting where you could get a opposition member in by having supporters give all their voted to this one person, and not vote for any other members running or vacant spaces. I dont want to quote the incorrect name, since it gets confusing, and i know and have the bylaws. the one or two other owner occupiers from day 1/vote 1 , remember the old way, and too wonder how this happened. i asked this question at last years annual meeting and the managing agent said they would look into it. nada since, not in minutes, and the managing agent refuses to digital or tape record minutes of annual meeting, even though i brought up a bunch of discrepancy, obvious they like the untracked method.
The topper is that the BOD has allowed the building to become about 50/50 owner occupied, so i cant find anyone to take an interest.
The people that are interested and see the wrongs, are like me, too old, too many other issues, too sick, to get involved with becoming a board member, and the few new owners that actually live here, i guess are planning on moving as soon as they can. I am thinking of doing the same , since this is not how i want to be spending my time,especially without any support. However i still am going to look out for fraud and make a paper trail of violations .