The April 25 letter? The content of this letter was cleared. Therefore, the email which Wilson sent to the branch managers is not a persuasive message. Once again, I would like to reassure you that both the conversion from federal to state charter and the merger with Harbor State Bank, will strengthen Cuttyhunk Bank and will allow for stronger and more competitive institute to server all its customers.
I think It will let members feel reassuring and trust the bank. This merger will have no effect on the customers of Cuttyhunk Bank. The main premise was depositors were under no obligation to attend meeting. Moreover, this message included some promises like Cuttyhunk bank will remain a mutual saving bank, just as it has always been after the bank convert to state- charter.
In the beginning of the letter, Cuttyhunk Bank should express their apologies to all the bank members. Please note that this does not mean conversion to a stock form of organization. What messages does Cuttyhunk Bank need to send out now? The minor premise was all issues were clearly stated in the letter which depositors received.
Yet, federal law requires that the bank which wants to convert should notify all members to attend this meeting. Cuttyhunk Bank needs to send an apologies letter to the customers. Besides,Cuttyhunk Bank needs to explain the massage from newspaper.
But they should not tell the lie to their customers. Did flaws in the use of content,logic,evidence,or argument lead to this problem? The massage content influenced the trust of customers. This action affected reputation of this bank.
Second, they need to tell all the bank members that they have right to attend the meeting. Similarly, depositors and borrowers might be potential members after bank convert to state charter.
This is a deductive argument. Probably one of managers or employee exposes this interoffice E-mail to newspaper office due to crisis. Actually, this action will affect their customers because part of customers will no longer have right to vote in the bank.
Actually, in order to expand to another state and make more profits, Wilson might want Cuttyhunk Bank could convert back to state-chartered savings bank from federal savings bank successfully without any questions and comments.
The content of this email was informed managers do not encourage depositors and borrowers come to attend meeting. Cuttyhunk Bank will still remain a mutual savings bank.
And they also need to explain why they said: If you wish to attend the Special Meeting you may vote in person, even if you have previously signed a proxy form.
I think Cuttyhunk Bank should not tell customers that there will no effect on bank members if this bank from federal charter changes to a state bank. They should tell the fact by euphemistic words. And it is difficult to rebuild the trust of customers.
As per the federal law, we are required to notify all members of the bank when such a meeting is scheduled and you as a member of the Cuttyhunk Bank are entitled to attend this meeting. The bank needs to tell true benefits for customers instead of the lie.
Just like last two annual meetings. At the Special Meeting the proxies will be in favour of the conversion to state charter and the merger with Harbor State Bank. And the bank did not decide to tell the customers the fact.
So Wilson want branch managers persuaded members that provide their proxy votes instead of come to attend meeting. But when Wilson conveyed his thought to managers, he did not list any evidences to support his point.
In addition, Wilson said that depositors and borrowers will no longer be considered members and will no longer be entitled to attend meeting and vote when the bank convert to the state charter.
The April 25 letter is an official message which informed members depositors and borrowers of the bank to attend the meeting.Cuttyhunk Bank Memo to Members Essay memo sent to the Cuttyhunk Bank managers gave the wrong impression that bank members are to not attend the Special Meeting scheduled to be held on May 27, Richard should contact bank members to explain the misunderstanding in the leaked email and the good intention of Cuttyhunk Bank.
Also, he needs to send out a company wide memo addressing the recent leak and reiterate company policies against disclosing confidential information.
As previously stated in my letter sent to all our members on April 25 th, Cuttyhunk Bank will be conducting a Special Meeting of the Members (depositors and borrowers) on May 27 th,at p.m.
at 68 Jefferson Street, Boston, MA. Moreover, this message included some promises like Cuttyhunk bank will remain a mutual saving bank, just as it has always been after the bank convert to state- charter.
I think It will let members feel reassuring and trust the bank. As you have probably read in the Boston newspaper, a recent memo sent to the Cuttyhunk Bank managers gave the wrong impression that bank members are to not attend the Special Meeting scheduled to be held on May 27, Unfortunately this was a miscommunication on our part, please receive our sincere apologies.
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