INCULCATING THRIFT

Hokitika Guardian, 5 November 1929, Page 7

INCULCATING THRIFT

GOOD WORK IN AUCKLAND. When times are prosperous it is the hard.vst tiling in 1 lie world to make people thrifty hub in .cli good wo: k is being done liy (be International Thrift Institute, which aims at encouraging this very necessary trait of e!iaracier. All over the world where the institute has members a day is recognised as “Thrift Day.” In Auckland the Auckland Saving-; Bank carries out the idea and object of the institute, with which it is affiliated, and the hank’s work has certainly borne fruit among its many customers. The schemes do not pay in the ordinary way of business, Liu are undertaken as part of the bank’s duty to the community. The tan' first took an interest in the movement in 1925, sinoc when it has been instrumental in establishing 180 thrift clubs iu city workshops and factories, which have been responsible for 195,090 individual deposits, representing £78,000. To-day the number of accounts standing in the .iam.es of members of thrift clubs is 4370, and the balance to the credit of tlm depositors is £20,000. In each club one of the members acts as the official collector aisd the weekly deposits are made ihrough this agent, with the result that the greatest obstacle to regular saving, inconvenience is overcome. In the course of a year half-a-crow-n a week grows to quite a useful sum, arc! more than once has a member of a thrift club enjoyed a holiday tiiat would not have been possible but for this facility for easy saving. The scheme has been extended to the schools, where the teachers act as the collectors. In Auckland and suburbs 67 schools have organised clubs and since -September, 1926, 297,030 individual deposits have amounted to £25,000. At pios-ent there are 9GOO school bank depositors on the books of the Auckland Saving Bank, with a .total amount of £1.5,000 standing to their credit. This year the Savings Bank Trustees are endeavouring to develop this thrifty instinct still further, and to this end have offered a prize for the best, essay upon thrift and its vai'ons in each class in each school in the city and near suburbs.