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Thursday, July 7,1955 THE CLINTON CHRONICLE * & \ Facts for folks who like money here’s the inside story on America’s Fastest-Growing Financial Institution Your Savings and Loan Association PERHAPS YOU ONLY HAVE your foot on the bottom rung of the ladder. Maybe you’ve finally reached the top after years of hard work. Or it m ight be you were born with the proverbial silver spoon and never worked a day in your life. Nevertheless, all of you have something in common .. . an interest in Money! And you probably already know that money can be a “sometime thing,” un less a part of it is saved wisely. We say “wisely” because saving itself isn’t any guarantee of security. If you look into the matter, you’ll find that when it comes to saving money, one place is NOT “just as good as anoth er”! For instance, a cookie jar or mattress affords no safety. Any financial institution would be better. But... do you know that your Savings and Loan Association affords safety, earnings and convenience seldom equalled by other types of institutions accepting savings. Do you know that one out of every three or four families in the country today is saving money in a Savings and Loan Association? Do you know that one out of every three families who mort gaged a town or suburban home last year borrowed the money from a Savings and Loan Associa tion? In fact, the amount of money saved with our type of institution has been increasing at a fast er rate, percentage-wise, than in any other financial institution. how will you benefit from with your SAVINGS AND LOAN ASSOCIATION? Perhaps you are not familiar with the advantages of saving with this specialized type of savings institution. Or perhaps you have some miscon ceptions about Savings and Loan Associations. Let’s look at the facts: safety There’s no better safety for funds . . . any where! First of all, there’s the financial struc ture of our association with ample liquid assets. Surpluses and Reserves resulting from the sound financial policies of our conservative management. Secondly, your money is invest ed chiefly in monthly-payable mortgages on owner-occupied homes . . . one of the safest in vestments known. (It has been shown that even in periods of deepest depression, owner- occupants go to great extremes to avoid default on their homes.) Thirdly, the funds of each saver are insured to $10,000 by the Federal Savings and Loan Insurance Corporation, an agency of the U. S. Government with resources in excess of $236,000,000. withd raw-ability You can withdraw your savings from our As sociation just as easily and quickly as you can from any other savings institution. The com bination of our holdings of cash and Govern ment Bonds, steady flow of new savings, month ly repayments on our loans, and line of credit at the Federal Home Loan Bank enables us to meet our savers’ varying needs for funds. Like all other financial institutions accepting savings w,e too reserve the right to request reasonable notice of withdrawal. 1 V earnings Our Association has always paid the highest earnings compatible with safety. This is a high er rate than other types of savings institutions usually pay because in a Savings and Loan As sociation, there is no middleman stockholder to cut in on the profits. Each and every saver is “part-owner” of the Association. Where do the profits come from? From the interest charged on our monthly repayable first mortgage loans on selected, owner-occupied homes . . . steady and sure income! convenience No other type of savings institution can sur pass your Savings and Loan Association in con venience. First of all, we have a handy location. Our office hours "have been carefully thought out to fit your available time. Our procedures for handling funds in and out are quick and simple. Our Save-by-Mail Plan permits you to save time as well as any amount. In addition, many different types of accounts are open to your selection! Savings Accounts opened on or before July lOtfi are credited with our liberal earnings from July 1st. Use these days to adjust, your financial affairs! how will you benefit from from your SAVINGS AND LOAN ASSOCIATION? Since every day more and more people turn to Savings and Loan Association to help them finance their homes, it is obvious there must be good reasons behind their choice. One of the big ones is the fact that Savings and Loan Associations first invented the “Pay-as-you-go” plan for home pur chasing. Before this plan was inaugurated, it was a real struggle for folks to meet the huge payments that came due at specified intervals—and there were many heart-breaking cases where temporary unemployment or illness caused the loss of a home. Nowadays, home-buyers can, after a low down payment, pay for their houses in monthly in stallments like rent, thanks to the pioneering of Savings and Loans. These monthly payments in clude budgeted amounts of taxes and insurance so that no large lump sums need be met. That one big improvement is remarkable enough. But your Savings and Loan has taken even more forward steps. We offer you the Prepayment Privilege which allows you to prepay your loan in part or in full at any time without penalty', provided the payment is made with your own funds. There is an extra advantage of this Prepayment Privilege: If you pay in advance and later on go through a period of financial crises, you can coast along without paying on your home for the same amount of time that you are paid ahead. This is called the “Grace Period” and has saved many a home owner from the dreaded foreclosure of olden days. STATEMENT OF CONDITION As of June 30, 1955 Assets Liabilities First Mortgage I.oans $3,266,905.11 Savings Accounts $3,321,879.96 Loans on Savings Accounts 30.862.66 Advances From Federal Home Loan Bank , 200.000.00 Real Estate Owned 825.38 Loans In Process ..... 84.540.63 Investments and Securities 381.145.00 Specific Reserves 1,000.00 Cash on Hand and in Banks 162.612.83 General Reserves .. $221,266.23 Office Building and Equipment less Depreciation 36.891.96 Undivided Profits 50.556.12 271,822.35 Total $3,879,242.94 Total $3,879,242.94 Citizens Federal Savings 204 W. Main St. and Loan Association 4 CLINTON, S. C. 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