CO-OPERATIVE BUILDING SOCIETY

Wanganui Chronicle, Volume 79, Issue 200, 27 August 1935, Page 12

CO-OPERATIVE BUILDING SOCIETY

A WANGANUI MEETING. A meeting will be held in the City Council Chambers on Thursday evening next for the purpose of forming in Wanganui a Co-operative Building Society. Now .that the financial depression is passing, many people are desirous of procuring their own homes, and a eo-operative building society furnishes a means of procuring .the necessary money free of interest and of enabling the loan to be paid off by weekly instalments at a reasonable rate. In the past, many people in Wanganui owed their homes to the work of the co-operative building societies. There are successful societies in other towns in New Zealand and there is no reason why Wanganui should not have one of its own. At the present time building sectious can be purchased at tlie lowest possible prices and a cooperative building society will enable its members to obtain money for building free of interest. It also enables toe members to pay off existing mortgages and so avoid further payments of interest. Loans are balloted for and offered to members by tender alternately and by adopting the group system the societies terminate and each group js wound up within a reasonable time. Indications are that many people in Wanganui are desirous of availing themselves of the advantages of a cooperative building society. At the meeting next Thursday the whole mat:er will be explained and those who are interested are urged to attend when they will be able to obtain full information on the subject.