DEPOSITS OF £6m.

Press, Volume CIII, Issue 30561, 2 October 1964, Page 14

DEPOSITS OF £6m.

Savings Bank’s Progress Deposits in the Canterbury Savings Bank exceeded £6m by the time business finished yesterday afternoon, the president (Mr M. J. Russell) announced last evening. The bank now has more than 21,750 depositors in its five branches. The board of trustees expected to be able to announce further suburban branches very soon, said Mr Russell. For some weeks the board had been looking for premises in Nelson and Blenheim, and it was hoped that some definite progress would soon be made, said Mr Russell. A number of board members had recently travelled to Marlborough and Nelson to inspect premises offered. Staff had been sought in readiness for the opening of the new branches. In spite of recent statements that the level of savings was falling the bank continued to progress, and in September funds increased by more than £250,000, said Mr Russell. This was as good as the normal monthly average or better. Mr Russell said that the main reasons for the popularity of the bank were the mortgages for building or buying homes, thrift clubs, and ordinary savings accounts where the bank was able to offer special facilities.