Trustee Banks Want Restrictions Removed

Press, Volume CII, Issue 30066, 26 February 1963, Page 10

Trustee Banks Want Restrictions Removed

JNew Zeeland Pnue Atsociation)

AUOKIAHD, Febfungr 25. H present restrictione an the-operation at trurtse mwinge banka wwe removed Md every comnsunitiy had its own trustee serines.bank or service from an existing one, savings would be greatly increased, says a statement issued by the annual conference of Associated Trustee Savings Banks of New Sealand. * ■ The conference, Held in Auckland last week, was attended by 24 dele4irf.es from the eight existing trustee savings bonks' wiiii 30 trustees am} managers as observers. J Several remits seeking the relaxation ot present .legislation restricting the operation of these banks to within a radius of 25 miles of their head offices were submitted. Delegates said the existing aippiication* to .the Minister of Finance to extend these limits should be resubmitted and steps, should be taken to obtain the Minister’s ap-

proval to national coverage by trustee savings banks: * Trading banks were stiH strongly advocating their request for savings depM*tmenta, said delegatee, and the aseociation would reply' fully to this campaign soon. The confereifce ftHt the earliest attention should be given to the efforts of residents of centre* Including Palmerston North, Whangarei, Taurnnga. Wanganui Oamwru and Wellington to have trustee savings banks available in* their districts. The . outstanding success of the new banks established -in Waikato, Canterbury and HaiwKe's Bay were evidence of the greater benefits of havings facilities to local communities. ,

Lamb Eaten.—Australians ate a record- 41 .Mb of lamb each in IM2, the Australian Wool and Meat Producers’ Federation half-yearly conference was told.—Canberra, February 20. . ,