Word: bankes
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Dates: during 1970-1979
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According to the notice which announced the change to customers, bank officials attribute the new policy to increased costs in "areas over which we have little or no control: utilities, postage, telephone, taxes, printing costs, insurance...
...DiLegge, a marketing adviser for Coolidge Bank, said yesterday, "We have absorbed the costs for as long as we could. We just have to bend with the times...
...Over the last few years our earnings are 'not what they should be, and because of that we have to make some adjustments," Charles S. Butters; assistant vice president of the bank, said yesterday...
...Bank officials decided that it cost more to maintain accounts with smaller balances than the bank was earning from using the money. "It is like selling dollar bills at 98 cents. No matter how much you sell you still cannot make any profit," Albert J. Baillargeon, executive vice president of the bank, said yesterday. "We want to be a competitive bank, but do have a responsibility to our stockholders,"he added...
Baillargeon said that the new policy will affect 10,000 of the bank's 65,000 NOW accounts. He estimated that there are over 5000 NOW accounts in the Harvard Square branch held by people associated with Harvard, over half of whom are students...