Word: banke
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Dates: during 1960-1969
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...pound hit a record low of $2.3813 in London, apparently because the Bank of England felt it safe to support the price at a lower level than the $2.3825 it usually tries to maintain as a floor. The value of the U.S. dollar dropped against the mark in Frankfurt but held steady elsewhere. The free-market price of gold moved scarcely at all-even though that volatile price is supposed to shoot up on any widespread doubts about the value of paper money...
...Smart shoppers may also save by declining a dealer's offer to make arrangements for "on-the-spot financing." Chances are that the bank pays the dealer what amounts to a "finder's fee" for lining up the loan. The fee often amounts to $100 on three-year loans, or enough to compensate the dealer for some cuts in the price of the auto. Buyers aware of such special ties between dealers and their banks may be able to bargain for a better sales price or simply make their own loan arrangements...
...began after First City National Bank, Houston's largest, discovered some disquieting statistics. The average age of its depositors was well over 50, compared with a citywide average of only 27.8 years. Convinced that an aging clientele meant future trouble in attracting deposits, the bank's officers decided to woo young customers with some remarkably unbankerlike services. Accordingly, the bank last spring started a "Young Houstonian Club" for young people who opened checking accounts. Already that organization is demonstrating that banking can shed its stodgy image and remain successful...
Club members, who must be between 21 and 35 years old, are offered a tempting variety of parties, seminars and trips. In July, 55 club members jetted to Acapulco for a weekend spree of sun and sea. Later in the month, 500 members frolicked as guests of the bank at a barbecue and beer bust. There was a reception for Singer Glen Campbell before his Houston concert and a private premiere showing of John Wayne's new movie, True Grit. Recognizing that club members are affluent-their average salary is more than $10,000 a year-merchants have been...
...preferential treatment continues right up to the teller's window. Club members do business in a special section of the bank decorated in lively shades of yellow, green and blue that contrast sharply with the beige carpets and gray draperies found elsewhere. Club members pay a $3 monthly service charge and must open accounts at the bank with a $50 minimum deposit. In return, they receive 30 rainbow-colored free checks a month, a free $10,000 accidental-death policy and an open line of credit good for up to $2,000. Most accounts start small but soon grow...