SAVINGS BANK DEPOSITS
£40,000 Lodged Yesterday
Almost £40,000 was deposited in the Canterbury Savings Bank yesterday, bringing the total to more than £700,000. The trustees were confident that with continued public support £750,000 would be deposited by the end of the week, the president of the bank (Mr M. A. Connelly. M.P.) said last evening. There was now more than £703,000 credited to about 3500 depositors—a remarkable achievement considering the bank had been open for business for two months yesterday, he said. “The strong support reflects the public's recognition of the value of saving in the local bank and of the many advantages of the bank to Christchurch and Canterbury.”
The increase in the rate of interest to 4 per cent, on moneys deposited in investment accounts for 12 months was expected to bring further substantial increases in the deposits. Mr Connelly said. The new rate became operative yesterday.
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Press, Volume CI, Issue 29942, 2 October 1962, Page 17
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149SAVINGS BANK DEPOSITS Press, Volume CI, Issue 29942, 2 October 1962, Page 17
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