SAVINGS BANK

Press, Volume CIV, Issue 30740, 3 May 1965, Page 18

SAVINGS BANK

Deposits Now £Bm Depositors in the C’ntrbury Savings Bank exceed:.i £Bm to the credit of ne-r ■ 3LOOO depositors aceord to figures released by the p.--. sident (Mr M. J. Russell) eq Friday evening. Mr Ruscc'i said that the board of trustees was delighted with th s further evidence of pub' c support. The increase in depositors’ funds from £7m tn £8 was achieved in less than three months. The bank’s two new branches at Wooislon and Hornby were showing excel lent progress in the eight days and three days respec lively that they had been open, he said. The trustees are at present looking into the provision of another facility for depositors in that they shortly hoped to offer home lay-by accounts. Mr Russell said that this type of account carried interest at the normal 3 per cent but people building or buying a home could qualify for a special 5 per cent bonus under certain circumstances. “The board of trustees consider that this service will find favour with younger people who wish to save for a home of their own. The trustees are of the opinion that people saving for this purpose deserve all the encouragement they can get ” Mr Russell said.