Douglas daily dispatch., 1926-08-15
BANKS HELP in
OWNERSHIP OF
Home PROBLEMS

IF I had realized fully, Is years
ago, that the primary purpose Of
bank is to lend money. / could have
been millionaire by this time"
This statement was not made by
man who had failed in life and busi-
ness, but by one of the chief execu-
tives of large corporation. He had
made money, was a success.
But this mans statement strikingly
illustrates theI great misunderstand-
ing in most persons minds of the
functions of bank in community.
Not until his company had floated
number of great public loans through
banks and groups of banks did this
business man clearly understand that
the primary purpose of bank is to
lend money.
This fact should be grasped by every
husband and wife who aspire to own
their own home. The bank on one OF
the main corners Of town occupies that
position solely because it serves the
community. 1t will serve you. For
tunately, the old suspicion of banks
and bankers is remembrance which
most of us laugh at now. What we
need to think of is how we can put
the bank to work for us, individually.
VIII Serve In Ten ways
/ Here are some of the services which
the bank offers to those whose ambi-
tion it is to own their own homes:
l. It will not only keep their saw
1ings; it will pay for the privilege of
keeping them--that is, through inter-.
est on the savings account.
2. Through its savings department
officials or its officers in charge of
the women's department. the bank will
chip the couple work out practical
budget system of saving,
8. When the savings reach point
at which the purchase Of lot or the
actual building Of house is concerned
the bank will tell its clients what is
the most economical way of carrying
the burden, and then will help to
carry it.
4. Your bankers advice as to what
location to select often will prvoe in
valuable; he is in position to know
land values, which lots are likely to
become more valuable In time, and
other points that should help you to
determine your location
S. He may be able to give you In
valuable service as to what contrac-
tor to select; contractors credit, on
which he must purchase the materials
to go into your home, is one of the
most important items in his equip
ment.
May Advise On Construction
6. Your banker may be able to sug-
gest points of construction, design and
handspring which will enhance the
value of your property.
Z. He will safeguard you, or influ-
ence your contractor to safeguard you.
against impermanent, non-insulated.
fire trap construction. He will remind
you that the upkeep of such property
may prove to great drain on your
capacity to pay. that the cost of heat
ing and maintenance may prove be-
yond your income budget, and that
shoddy construction will detract from
the value of the mortgage.
| 8. If your plan is to build a modest
home now to be exchanged later for
| a more commodious dwelling, your
banker will be interested in finding
market for you when you are ready to
! sell.
9. He will assist you to readjust
! your budget SO as to meet interest
payments, insurance premiums ana
maintenance charges, and still leave
something besides for the building of
better home or the education of the
children or the inevitable old age.
10. BY using these services of your
banker you will establish your credit
with him so that, If you are stagGer-
ing under the heavy load you arS
carrying and the rainy day comes
when you aren't ready for it, he wilt
help YOU meet it. The banker is nos
only public servant; he often is the
best of friends in private.
But if you expect the banker to help
you with your home building project,
you must convince him that you are
in earnest about it,, That's about all
there is to this seemingly complicated
matter of establishing credit" Saw
Continued on Page Two)