The Democratic banner. (Mt. Vernon, Ohio) 1898-192?, 1921-12-09
CHRISTMAS CHECKS
GO OUT FOR $4,000
Distribution To Be Made On
Dec. Is To 500 Depositors
OF Knox Savings & Loan
Association

On Thursday, Dec. Is, checks are to
be sent out to approximately 800 men,
bers of the 1921 Christmas club of the
Knox Savings & Loan association.
These 500 checks will be for total of
$4,000, ranging in amounts from
$3.50 to $500.
The Knox Savings & Loan associa-
ton started its first Christmas club in
1916 with $50 depositors, to whom was
paid at the Christmas season that year
a total of 5000. Each year since the,
association has conducted similar
club with steadily increasing mum.
Der of depositors and a corresponding
increase in deposits.
No claim is made for the honor of
having originated the Christmas club
idea, nor for having introduced 1t in
Mt. Vernon. 1t is amply sufficient for
the Knox Savings & Loan association
to be credited with being the first to
make the Christmas club plan con.
spicuous success in Mt. Vernon.
The money that the 800 Christmas
| club checks represent will be put, un-
dOubtedly, to most diversified use.
But it is more than doubtful that any
of it will be wasted, for 1t is the con-
crete and visible evidence of so weeks
Of thrift, week-by-week savings
The actual uses to which this mon.
ey will be put will be as varied, in all
probability, as the individuals them.
selves. Some will purchase Christmas
presents. Others will buy necessities
for themselves or for members of their
families. Still others will use it to
pay life insurance premiums It is
known that this was the plan and pur
pose of the first depositor in the frs,
Christmas club conducted by the Knox
Savings G. Loan association in 1916.
Although the past year has been 9
twelvemonth Of difficulty and hardship
for many, the officials of the savings
and loan association state they were
gratined to discover remarkably
small number had been unable tt
maintain their regular deposits. These
regular depositors represent all sort!
and conditions. many Of them chill
dren. BY far the great majority arr
persons to whom saving, small as |
might be, represented something of al
effort or very real sacrifice.
Already plans are being made 70
the opening of the associations 1872
Christmas club, the accounts for whicl
are to be opened Monday, Dec. 12. Th
plan under which the club is conduct
ed permits of choice of no less thai
IA systems of making deposits, rane
ing all the way from one cent up to 81
) weekly for period of so weeks. II
terest is paid at the rate Of four pc
cent.
Letters are to be sent out calling a
tention to the Christmas club plan G
, the Knox Savings G. Loan associatio
, and inviting the support and co-operi
4 ton of merchants, business men an
9 others who may be interested. VI
!, doubtedly 1t will be matter of som
o interest to business men to kno
that on and after Dec. Is they reasol
ably may expect to receive a porto
of the $4,000 that will be distribute
= to the 500 members of this one Chris
mas club.
Next year the process will be repea
t ed and the distribution of another SUI
8 of money, the accumulated small sa
u ings of considerable number, WI
u come again as reason for seal appr
:. citation at the end of 1929, as the san
= feeling now Is being entertained
"A 1891 is drawing to y close.