The Columbia evening Missourian., 1921-12-20
MANY PERSONS
MAKE USE OF
SAVINGS CLUBS
Plans for Saving Money for
Christmas Are Used by
Three Banks in
Columbia.
GOOD WILL CREATED
Bankers Say Scheme Is Best
Medium for Inducing
People to Start
Accounts.

Recently the Exchange National Bank
sent out several hundred checks rang
ing from sl2 to $3.50 to members of its
Christmas saving clubs. The day mark
I'd the end Of the eighth year that the
hank has conducted saving clubs. On the
twelfth OF December. other clubs were
started with more members in them than
ever. For fifty weeks they will save
and next year just before Christmas.
checks will be sent out TO them for
their holiday shopping.
Clubs in which as little at 5 cents
n week and as high as $40 week have
been formed. Each week. in the cent
club for example. 5 cents more is add
ed TO the amount paid the previous
week. In the ~ club. people put in
any amount they like Al the end Of
the wear. those in the ) cent clubs re-
ceive s63.75. Those in the 10 cent clubs
receive sl27.5O at the end Of their saw
ing.
1T is the best medium Of inducing
people. especially those who have never
saved before. TO begin saving" says W..
Emmett Smith. cashier Of the bank. ''lt
leads to other saving, for instead of
Withdrawing Christmas accounts. many
deposit part Of their money.
Merchants are much in favor Of the
plan. for it puts money in the hands
of many who otherwise would not have
it before Christmas. Ii is popular with
every type oi person. says Mr.. Smith.
and one would be surprised al the peo-
pie Of means who enier into these say-
ing clubs. Many people who are now
members began with the first club eight
wears ago.
The Exchange National Bank uses the
i. f. 0utcault system of Chicago for
its accounts. Ii is an improvement over
the old card system. People are now
given passbOoks, which are not only more
business like but which last longer than
did the cid cards. This wear an i'm.
provement has been made in the send.
ing out Of the checks. To each check
voucher is attached which runs some.
thing like this: Il wish to deposit ....
dollars 10 a checking account and desire
-. dollars in cash" II deposition wish
es. he has the right to Withdraw all Of
his Christmas savings account.
The Christmas savings plan originated
about ten years ago with bank in Har.
risburg. Pa.
The Boone County National Bank and
ihe Central Bank also have Christmas
savings accounts. The Boone County Ma
iional has had Christmas accounts for
three years. the Central Bank having
introduced them last wear.
The Boone County National uses tn,
Goodman Christmas Savings Club. simi
lar 10 the 0uicault system used by tn,
Exchange National Bank. In what i
called Glass "a" the payment for tn
frs, week is 81. which decreases 2 cent
week. netting al the end of fifty week.
$3.50. In some of the classes. men
bers may pay Is cents, 50 cents, 81
81 or IS week each week. receiving a
the end Of fifty weeks. $3.50. SIS. $5(
500 and $3.50 respectively. The Boon
County National Bank has more accoun,
Of this kind this year than ii has eve
had before. Many deposiiors who b,
gan with the 2 cent club, now are i
the S. club.
Miss Sara Hall. cashier of the Ce,
iral Bank. believes the Christmas savin
plan an excellent one for training chi
dren in the saving habit. The Banker
Publicity Company plan of ST. Louis
:he type Of savings club which the Cel
iral Bank uses. In this club. 25 cen
Tor example. may be the initial deposi