Word: coops
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Dates: during 1960-1969
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...each month, students will receive a bill from the Harvard Trust. The new bills will itemize expenditures at other stores as well as the Coop...
...Coop is essentially in the cash business now," said acting Coop manager Al Zavelle. "If a member buys something for $10, the bank immediately credits our account with $10," he said...
...bank will now charge customers one and a half per cent interest per month on overdue bills, Zavelle said. The Coop was about to adopt such a charge anyway, he added...
...Coop had been losing about six per cent in its charge business, while the bank will now charge only two per cent for the service. "For the first time, we have a good reason for the two per cent difference between the cash and charge rebates," Zavelle said...
...financing will reduce the money customers owe the Coop-currently one million dollars-and eventually eliminate the nine per cent interest the Coop must pay on those accounts. Coop president Milton Brown estimated that the new system will save the Coop about $90,000 a year...