New concept in banking
PA Hastings Te Awe, a new concept in people’s banking, was launched with a spiritual ceremony at Waipatu Marae, Hastings, at dawn recently. Te Awe, a trust structure open to Maori and pakeha, was described by its secretary, Mr Mike Kalaugher, as a “people-orientated bank.” He said Te Awe allowed people “to tell money what to do instead of money telling people what to do.” “They tell us where they want their money invested,” be said.
The trust offered people the opportunity to have a say in where deposits should be invested, and had facilities for term deposits, deposits on call and savings accounts, said Mr Kalaugher.
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Press, 3 December 1985, Page 27
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111New concept in banking Press, 3 December 1985, Page 27
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