I'm sure many of your readers, like myself, bank at Asheville Savings Bank, our wonderful Mutual bank, owned by the depositors, and very community-minded. For 15 years I've received excellent service there. (Maybe because I'm an owner?)
The current board of directors, however, would like to change that, by making the bank a corporation listed on the New York Stock Exchange. If that happens, the Wall Street bankers — who brought us the collapse of the economy, took million-dollar bonuses for themselves (from our tax money) and now are not very forthcoming with mortgage loans — will probably gobble up this bank too.
Luckily, the board of directors must get our permission to change the legal form of the bank, and have sent us each a packet with a proxy form in it.
I urge those who bank with Asheville Savings to vote against the conversion, which can be easily done, because not returning a proxy card is counted as “against.”
If you want to know more, there is a meeting of members at 2 p.m. on Sept. 22 at the bank’s administrative center in Candler.
— Amina Spengler