Board Approves Adding Funds to the Elder Trust
At their December 11, 2021, meeting, the Board of Directors unanimously approved a resolution to add $12,500 to the Elder Trust. This amount was recommended by Alexander Capital, the brokerage firm that manages the Trust.
“The Board is committed to sufficiently funding the Trust so it will remain a viable benefit to Kootznoowoo’s Elders,” said Interim CEO Jon Wunrow. “This amount will ensure solvency through at least 2062.”
The Elder Trust was originally established to provide additional financial support to Kootznoowoo elders. To be eligible for the Elder Trust benefit, a shareholder must be age 65 or older and had been enrolled in the corporation as of December 31, 1998, the date the Trust was formally established.