Hawkes Bay And Gisborne Savings Bank Opened

The Gisborne branch of the Hawkes Bay and Gisborne Savings Bank was officially opened last month with a ceremony held in front of its temporary premises in the T and G building in Grey Street. Later it will move over the road to the new Government Life building.

The deputy-Mayor, Mr L. H. R. Crosby, officially opened the bank. Earlier in the day, his three-year-old grandson, Brent Crosby, had opened the first official account with a £5 deposit.

On its opening day, the bank held more than £200,000 in repositary funds, and made its first contribution to the district by loaning the City Council £10,000.

The bank is owned solely by the community, from which it will benefit from profits and finance. After paying tax and accumulating a reserve fund, the remainder of the bank's profits will go to charity and similar institutions.

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A view of the opening ceremony in front of the T and G building

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Mr A. G. McHugh, chairman of the steering committee, reading a message from Mrs Tombleson, M.P.

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Mr Crosby addresses the gathering