Whakatane Is Well Behind
NATIONAL SAVINGS HALF YEAR’S TALLY Whakatane is well behind in the half-yearly count of the National Savings campaign. With an annual target of £11,060 to get, at present only 45 per cent has been collected, £5393. The weekly quota for the district is £230 which works out at approximately 4/- per person per week.
The Postmaster, Mr S. W. Hills, reports that there are at present only 8 active business groups in the town and there are 7 defunct ones which have not contributed anything for a long time. Over the period from April 1 there have been 100 new groups formed throughout New Zealand and over 4000 new group accounts. There have been no new groups formed at Whakatane for some considerable time. The idea of the group system is to provide a means by which the people who have only a small amount to invest each week can do so. The group scheme operates with the consent of the employees and employers straight from the business itself. This means that each person employed agrees to put aside a small sum each week for the group account in his name and this is paid into the Post Office each week by the employer.
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https://paperspast.natlib.govt.nz/newspapers/BPB19480719.2.21
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Bay of Plenty Beacon, Volume 12, Issue 70, 19 July 1948, Page 5
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208Whakatane Is Well Behind Bay of Plenty Beacon, Volume 12, Issue 70, 19 July 1948, Page 5
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