Lending policy
Sir, — I can assure Mr Redmond of the Canterbury Building Society (“The Press,” May 16) that no other society is involved. Even though the society has been operating for 25 years a couple can have a combined savings period of 30 years, the operative w’ord being combined. One partner has been a member for 20 years, the other for 10. A fortnight after my original letter the C.B.S. newsletter came out with an article alerting longer - standing members, who may not have realised that mortgage money was based on $4OO for every 10 cent share a week, to take stock of their mortgage requirements with a view to updating their shares. If this had been stressed a year ago we could have covered ourselves, but
still have been turned down on the basis of living in the country on an uneconomic unit. I thank Mr Redmond for his offer of further discussion. — Yours, etc., V. PALMER. West Melton. May 20, 1977.
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Press, 24 May 1977, Page 18
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163Lending policy Press, 24 May 1977, Page 18
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