Evening Republican, Volume 19, Number 9, Rensselaer, Jasper County, 11 January 1915 — SAVINGS ACCOUNT CHRISTMAS PLAN [ARTICLE]

SAVINGS ACCOUNT CHRISTMAS PLAN

First National Bank Through Landis System Slants Four Hundred New Accounts. Probably no plan o 4 bank Savings accounts ever Struck the community with such spontaneous popularity as the Landis Christmas Savings plan recently adopted by the First National Bank. Upwards of four hundred accounts were started, in many cases each member of a family opening an account. The scheme is based upon three plans, one, two and five cent accounts. In the first plan the depositor places 1 cent in the bank the first week, 2 cents the second, 3 cents the thin! and so on up to the fiftieth week, when he deposits 50 cents. At the fiftieth week he has deposited $12.75 and on or about the 10th of December he will get it back along with 3 per cent interest for the average amount the average time. The 2«jent account figures twice the amount as the 1-cent account and the s«ent account figures five times as much. If all of those wtho have taken oqt accounts keep them up until Dec 10th there will be disbursed by the bank at that time about. $20,000. In Lafayette this year one bank paid out about $120,000. It proved a great thing for the merchants and to a great extent solved the plan of Christmas funds, because the money had been saved in small amounts during the year. If desirable at the end of the fifty week sto retain the money in the bank Instead of drawing it to spend, a regular savings account can be opened and the start secured through this meager plan may be the meanfi of starting any one on the road to permanent thrift The plan is still open, new depositors simply paying the accumulation up tto this time. The bank officials have been much gratified at the large business received and hope within the next week or ten day® to increase the number of accounts to five hundred. Children, middle aged people and old people have become interested and there will be a lot of money saved during the year in ■these small amounts.