EIGHTY YEARS’ SAVINGS
AUCKLAND BANK’S BIRTHDAY £IOB,OOO GIVEN TO CHARITY The Auckland Savings Bank is SI years old to-day. In that, time the institution has given £IOB,OOO to charitable and philanthropic causes. It was a group of far-sighted Aucklanders that conceived the commendable idea of encouraging public thrift in a practical and incidentally profitable manner. Ten years after establishing the bank, the promoters purchased the site in Queen Street, whereon the institution now stands. The soundness of the scheme made it a successful venture from the outset, and in addition to great extensions to the city bank, eight branches have been opened in the suburbs in order to meet the heavy calls upon its services. Comparatively recently the idea of thrift was extended to the schools, and under the jurisdiction of the Auckland Savings Bank a children’s savings scheme was instituted, involving an annual loss to the bank of approximately £SOO. It is truly said that the trustees have made splendid community use of the commercial operations of the institution.
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Bibliographic details
Sun (Auckland), Volume II, Issue 375, 8 June 1928, Page 12
Word Count
170EIGHTY YEARS’ SAVINGS Sun (Auckland), Volume II, Issue 375, 8 June 1928, Page 12
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