Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1895-07-17

why norrow from the Pioneer
Building aud Loan Association
on the Mortgage OF NY Lot
Homestead.


| want, and in nearly all cases
will give me 20 per cent more
money than can get elsewhere
Oh the security l have to offer.
This will enable me to build or
buy home that | can occupy at
once, and, instead of paying rent,
| can divert the amount towards
the ultimate ownership Of the
place, free of mortgage.
I'd. Because, when ] borrow
from the Building Association, 1
borrow my own money-that is,
what l have already paid in and
expect to pay in during the time
of the loan. / thus borrow from
myself and pay interest TO myself,
and am an equal proft-sharer in
the Association, and in all its
gains from other loans as we'll as
my own.
Sd. Because 1 cannot get a
home or pay off a mortgage 80
easily or so oheaply in any other
way.
4th. Because the monthly in
stalments required to pay off my
loan are extendedover long series
of months, making the payments
as easy as if l were required to
pay rent for the same house if l
leased it Of the owner.
9th. Because L have owned
shares for a number of years, and
it is cheaper for me to take out
the par value $500 per share) in
loan noao and invest the money
for the next few years, than to
wait for the shares to mature, or
be paid off, thus securing the pro-
fit of the money which l now OBJ
tain by borrowing and investing
the same.
9th. Because l cannot save
money and pay off my loan in any
better way than through the com
pulsory and systematic method of
the purely Mutual or Cooperative
Loan Association.
7th Because l understand when
1 use my shares and become bor-
rowing member, l stand in the
position Of a member paid off IN
advanCe Of maturity; i. e., the
shares l take to borrow on are
paid off to me in advance of reach
ing the 5000 par value in the
form of a loan, so-called, and the
security l give is security for the
payment of the monthly INSTALL
ment, interest, etc., and the security
| (or home) is not liable for the
principal or ddUance unless [ fail
to pay the installments as they
become due. 1t is thus that
the" loan differs from any
other debt secured by mortgage.
9Th. Because, if misfortune
should oVsrtake me during the
coming years, 50 that my install
ments fall behind, the Association
can help me out, as no bank or
private individual could possibly
do. ....
9th. Because the Undue en- ents
to save and pay off the loan are 80
much greater in the Loan Asso-
citation than anywhere else. The
wife and children, too, are full of
the idea of paying up, so that in
the end, they may own their home
free of mortgage. ..
10th. Because my neighbors
and friends are getting homes,
and paying for them through the
Building Association. The poor
man, who makes little money, and
even the rich man, who has plenty,
have found 1t to be both a prJ-
fitable and a good s)und policy to
borrow from the Building and
Lnan Association.
11th. Because my Nut Ial
Building and Loan Association is
not an Investment Company, orga-
nized by Capitalists, and SUSTAIN
ed by Membership F. es with
drawal Fees" "Expense Fund
Receipts" doublebarreled pre-
miums, and forfeitures by unfor-
tunate members, but is a genuine
Cooperative Mutual Association
in all respects-an organization
of borrowers, by borrowers, and
for borrowers. ..