FRIENDLY SOCIETY FUNDS.
A BUILDING SCHEME.
(Special to Herald.) NAPIER, this day. An important proposal was discussed at the district meeting of Foresters at Waipawa. Tlie executive submitted a report on a scheme to enable members to borrow money on freehold security from the district or Court funds, to enabte them to purchase homes. The scheme provided that the maximum) sum to be borrowed- was £500, to be lent from one to ten years, and to be repaid in monthly instalments. Borrowers may, in addition to ttie regular monthly payments, pay off sums 'of £5 or the multiple of £5. Any same go paid will immedir ately cease to bear interest. Loans would be granted up to three-fourths of the ," ralue of the property. The scheme was adopted, with minor, amendments.
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Bibliographic details
Poverty Bay Herald, Volume XXXV, Issue 11369, 31 August 1908, Page 3
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131FRIENDLY SOCIETY FUNDS. Poverty Bay Herald, Volume XXXV, Issue 11369, 31 August 1908, Page 3
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