The Washington times., 1925-11-23
X NJ A s SAVINGS
IN D. c. To BE
INCREASED
Banks Will Unite in Educating
I. Public to This Form
r of Saving
Rx RICHARD HATTON

District of Columbia banks main
tanning Christmas savings clubs Will
icin forces this year in setting be-
fore the public the advantages of
this form of saving through consist
ent depositing of stated amounts
throughout the year.
They have again decided upon a
cooperative campaign of publicity
which will be more or less educa-
tional in nature while inspiring a
desire on the part of those who
would take advantage Of the system
70 build up a substantial bank &C
count for future expenditure or IN
Vestment.
The Christmas savings clubs have
become a standard feature of bank
ing and have made wide appeal TO
all classes in the community. me
rapid growth in popularity OF this
form of saving is indicated by sta
tistics which show a steady increase
in the number enrolled each sue
ceeding year. The figures furnished
by the banks, which carried Christ
mas savings clubs, show that over
-. 900 depositors were enrolled IN the
several classes in 1924.
= Growth in Popularity
AS evidence of the rapid growth
in popularity of the Christmas saw
'g4les account the figures for 1926 are
presented. The number this year is
wen over so 900. or an increase OF
approximately 20 per cent. Esti-
mates made by local bankers indl-
cate that 1t is expected the 1875 en-.
rollnnent win show an even greater
percentage of increase.
The great value to the business
interests of the city in these Christ
mas Savings Clubs lies in the fact
that several millions of dollars in
cold cash is released to the public
at the logical moment for making
Christmas purchases. The Christ
mas, Savings Club deposition has no
great worry as to where the funds
will come from to be used in the
pleasant duty OF providing Christ
mas cheer for family and friends.
They will be provided by the check
from the bank covering the years
deposits and interest.
Last year, it is stated. the amount
distributed by local banks In christ
mas Savings CluU checks in time
for holiday shopping was approx
gnate1y 5000, 900. The estimate
made this year is that over 4,OO0,-
900 viii be paid put by the banks.
According to available information
eron local banks about one.quarter
of the amount paid out In Christ
mas Savings Club checks Is rede-
nestled in permanent savings &C
counts. Possibly this stimulation OF
the habit of saving il one of the
greatest advantaf es Of the system.
Trains In Saving
From the bankers standpoint the
chief value in the Christmas Saw
fngs Club lies in the fact that II
hrines customers into the bank who
have never had any financial con-
nection and educates them. in the
sygtemtic accumulation OF funds
Human nature il so constructed
that once the habit Of saving takes
hold. the individual L. more than
E likely to continue to build his bank
account. -,
hanks maintaining these clubs that
a large percentage OF those VINO
come to the bank first through
Joining the Christmas clubs become
permanent clients and develop bust
ness in other departments Of the
bank.
Twenty.three District of Co.
1umbia banks have maintained
GnrlSLulaS SdNAASb CAubS n |"So'
They are Riggs National Bank.
Bank of Commerce and Savings,
Second National Bank, Frankl.n
National Bank, Washington Loan
and Trust Company. McLachlen
Banking Corporation, District Ma
tional Bank, Washington Savings
{ Bank, Potomac Savings Bank, Fed
eral American National Bank, East
Washington Savings Bank, Column
bia National Bank, Security Saw
ings and Commercial Bank, Wash
tngton Savings Bank, Mount Yer
non Savings Bank, Commercial Ma
tlonal Bank, Farmers and Me
.chanics National Bank, Continental
Trust Company, American Security
and Trust Company, Citizens Saw
4ngs Bank, Park Savings Bank.
Capitol Savings Bank.
List to Increase
During the year 1925 this list
VIII be augmented by the Mer.
chants Bank and Trust Company.
the Chevy Chase Savings Bank, the
Woodridge.Langdon Savings and
Commercial Bank, the AnacostIa
Bank. the National Savings and
Trust Company and the Northeast
Savings Bank, making a total of
Twenty-Five institutions which will
offer this exceptional opportunity
Tor accommodating a financial start
in life or a fund for next Christmas
expenditures.
With this array Of strong financial
institutions ready to help. the aver
age citizen can make tiO his mind