SAVINGS BANK

Press, Volume CIII, Issue 30592, 7 November 1964, Page 1

SAVINGS BANK

Marlborough Division A trustee savings bank is to be opened in Blenheim. Mr M. J. Russell, president of the Canterbury Savings Bank, announced yesterday that the Marlborough division of the bank would commence operations shortly. Arrangements had finally been made for both temporary and permanent premises. The permanent office would be in Malplaquets’ building, formerly the Marlborough Transport building, which was being demolished, in Queen street. Arrangements had been made for the temporary use of one of the Marlborough Transport Company's sample rooms. No definite date could be given for the opening because the bank was in the hands of joinery manufacturers for counters and fittings and printers for passbooks, Mr Russell said. He was hopeful that a firm decision would be made within the next fortnight and that the bank would possibly open early in December. Representatives of the board of trustees had met representatives of the community in Blenheim and a liaisonpromotion committee had been set up, with the Mayor (Mr S. P. Harling) as convener.

“The bank has agreed to run Marlborough as a separate division so that funds deposited in Marlborough, except the percentage required by Government guarantee, will be invested in Marlborough and the profits earned on those funds will be distributed in Marlborough to charitable, cultural, and educational organisations,” Mr Russell said.