ENCOURAGING THRIFT

Hauraki Plains Gazette, Volume VLI, Issue 3421, 18 December 1935, Page 8

ENCOURAGING THRIFT

NORTHERN BUILDING SOCIETY PAEROA AGENCY. Although the Building Society movement is still comparatively young, its phenomenal popularity and consequent growth, particularly in England, have proved beyond- measure, its success as a means of sound investment. Emulating on the whole, the English system, the movement in New Zealand has developed prodigiously, and perhaps there could be chosen no better example of its success in this country than the Northern Building Society. This concern, although incorporated as recently as 1923, is now one of the largest terminating societies in New Zealand, its outstanding success being chiefly due to the fact that is purely co-operative, and that its policy has been wisely planned by a careful and progressive management, to ensure that the advantages of its system may be appreciated by all classes of the community.

To a prudent parent, the successful upbringing of children is a matter to which must be devoted careful thought, and in planning a child’s future seldom can be neglected the cultivation of the habit of thrift. In fact, it may truthfully be said that it is never too early to sow the seeds of thrift in a young mind and so foster the habit of saving. There usually arises, however, the problem of deciding just what is the best practical method of impressing the benefits of this habit upon the minds of children, and to this problem the Northern Building Society provides an ideal solution. The system of this Society embodies the very essence of thrift in that it offers the means of saving small amounts in a regular and systematic fashion. The holder of two shares in the Northern Building Society subscribes at the rate of only 2/- per week, but it is of interest to observe that this small weekly saving accumulates to the sum of £52, plus profits, in 10 years. If it is the desire of a member to continue subscribing after 10 years, he will then receive annual cash dividends in addition to a share of the profits at the termination of the group or on prior withdrawal. Apart altogether, however, from the fact that the shares form an ideal investment for small regular savings, there is the added attraction of a chance of winning a free of interest ballot, and although the youthful member would probably not require the money to buy or build a home or pay off a mortgage, he always has the alternative of selling his right to the allot at a substantial cash profit or 'depositing the money in the bank. Further particulars regarding the Special Groups are given in a Free Descriptive Booklet which is obtainable from Mr C.' J. Gleadow, the Northern Building Society’s Paeroa Agent for receiving share applications. Of further interest to Paeroa residents is the fact that Mr J. H. Bartlett, Public Accountant, Theatre -Buildings, Paeroa, has been appointed agent for the purpose of receiving payments, thereby relieving members of the expense of postage and exchange.