INCULCATING THRIFT.

Auckland Star, Volume LX, Issue 257, 30 October 1929, Page 8

INCULCATING THRIFT.

GOOD WORK IN AUCKLAND. SCHEMES OF SAVINGS BANK. FAR REACHING EFFECTS. When times are prosperous it is the hardest thing in the world to make people thrifty but much good work is being done by the International Thrift Institute, which aims at encouraging this very necessary trait of character. All over the world where the institute has members, to-morrow will be recognised as "Thrift Day." In Auckland the Auckland Savings Bank carries out the idea and object of the institute, with which it is affiliated, and the bank's work has certainly born fruit among its many customers. The schemed do not pay ill the ordinary way of business, but are undertaken as part of the bank's duty to the community. The bank first took an interest in the movement in 192,), since when it has been instrumental in establishing ISO thrift clubs.in city workshops and factories, which have been responsible for 195,000 individual deposits, representing £78,000. To-day the number of accounts standing in the names of members of thrift clubs is 4350, and the balance to the credit of the depositors is £20.000. In each club one of the members acts as the official collector and the weekly deposits are made through this agent, with the result that the greatest obstacle to regular saving, inconvenience, is overcome. In the course of a year lialf-a-erown a week grows to quite a useful sum, and more than once lias a member of a thrift club enjoyed a holiday that would not have been possible but for this facility for easy saving. The scheme has been extended to the schools, where the teachers act as the 'collectors. In Auckland and suburbs 07 schools have organised clubs and since September, l'J2(i, 207,000 individual deposits have amounted to £25,000. At present there are 0000 school bank depositors on the books of the Auckland Savings Bank, with a total amount of a: 15,000 standing to their credit. This year the Savings Bank trustees are endeavouring to develop this thrifty instinct still further, and to this end have offered a prize for the best essay upon thrift and its various aspects, m each class in each school in the city ancl near suburbs. The essays will be mitten to-morrow.