NATIONAL SAVINGS

Bay of Plenty Beacon, Volume 4, Issue 136, 1 August 1941, Page 5

NATIONAL SAVINGS

WHAKATANE S EFFORT INCREASE ONLY GRADUAL After making an excellent : start and leading" in the Thames district for many weeks, the growth of National Savings accounts opened 1 in Whakatane diminished, until to-day the inr - crease in numbers making deposits is only gradual. However, although the percentage of population which has joined with the scheme is not as great as the leading town, Thames, Whakatane remains third on the Jilst in the Thames Postal District, and may make another bid for the lead when an endeavour is to be made shortly to induce small groups to operate. 'at present leads, with 1 ( ) per Xcnt of~ the population of that town having opened accounts, while the percentage in Whakatane is only 14. When returns were made on July 2(3 the total of accounts operating in this town was 525, there being 15 groups which entail 230 o F these accounts. Group Scheme Best. The officials have found by experience that the group system brings much better results, in that the contributions are obtained from the source of the earnings and maintain a steady flow into the accounts. Where individuals have opened accounts, and, for a time, continued well, they are inclined to overlook their banking and allow their interest to wane. It has been found in the ranks of the. individual contributors, a deposit is made on the average only, once in seven weeks, and thus it is found far more satisfactory to encourage the sma'l lout regular deposits. Drive for Small Groups.

Local officials of tlic Post and Telegraph Department arc shortly to make a canvass of the town in f.n endeavour to encourage small £roups to open accounts. Already the bigger firms have joined the scheme and are making appreciable weekly deposits. On this occasion the smaller businesses will be visited «nd groups formed comprising of two, three and four members of the stall'. No matter how small the weekly deposit, as has been mentioned, the results, obtained in this way easily surpass those derived from the individual c'ontiibutor.