Savings Banks Discuss Zones With Treasury

Press, Volume CIII, Issue 30448, 23 May 1964, Page 3

Savings Banks Discuss Zones With Treasury

(Sew Zealand Press Association) DUNEDIN, May 22. Proposals for zoning New Zealand into trustee savings bank districts, made to Treasury officials in Wellington today by the Associated Trustee Savings Banks of New Zealand, seemed to have been favourably received, Mr W. A. Fraser, president of the association, said this evening.

The meeting with Treasury officials was mainly to discuss zoning and related matters, Mr Farser said. He emphasised that the zoning proposals were for full national coverage.

A full statement concerning zoning was expected in the near future, Mr Fraser said. “While my association does not agree that the protective clauses already announced are sufficient, we gave notice of our intention to press for at least the same protective rights to be extended to areas w here banks are in the process of forming, particularly Wellington. “We trust that we will be given the opportunity to discuss with the Government further important policy matters including the provision of full cheque facilities for trustee banks at an early date.”

Based on population and community of interest, the zoning proposals provide for dividing the North Island into 10 zones and the South Island into six.

Yesterday the executive of the savings bank association met to consider the Govern-

ment’s decision to admit trading banks into the savings field.

Representatives of two new banks, Bay of Plenty and South Canterbury, and of the committee promoting the Wellington Regional Trustee Savings Bank, took part in the discussions.

Mr Fraser was reappointed president of the Trustee Savings Bank Association.