Sunday, October 26, 2014

Your Home Town Bank

My first experience with banks was in 1952-53. I opened a savings account. I do not remember anyone signing for me to do that. But we had studied that in 7th grade and our teacher encouraged us to open a savings account and save our money. I got the account up to $17.00 + or – a little.


(You coulda bought me something)

The next year in school I needed a ‘white sport coat, shirt and tie for some special event’. I am positive mom and dad would have bought what I needed, but I felt grown up going to MY bank . I drew it all out except 50¢. I never went back to the bank.

That was in Valdese, NC. I read in my deposit book later that if I had left a $1 in the account it would have accumulated interest. But less than a $1 was charged off to maintenance. I would like to know what 60+ years of interest would be for a dollar. Probably be up to $25.Winking smile

Anyway our local bank in Belmont was, “The Bank of Belmont”.  There was a time having a local bank was a thing of pride, and they stuck around for years. I learned later that Bankers, even the ones in a ‘home town bank’, get a little hungry when the biggies (Bank of America, Wells Fargo, etc) come calling with offers to buy them out. In the early years the local bankers would not sell, but now I understand ‘Home Town Banks’ are started with the intent to sell.

about to be annoyed

(I am about to get upset!)

Once sold, then they seem to become a commodity. The Bank of Belmont sold to Wachovia, and in a short time Wells Fargo bought Wachovia.  I didn’t fuss about that because I always wanted to be a cowboy and Wells Fargo has a Stage coach and I feel like I am part Cowboy.


Now our money is in the Stage coach, I hope it is protected by Roy, Gene and Tom Mix.

Thanks for visiting…

Nite Shipslog


How did this happen?




Henry J convertible.


betty said...

Banking sure has changed over the years. I remember walk up windows for doing bank business (not ATM machines, but a live teller :) plus drive up banking which is very rare here (walk up nonexistent). We do most of our banking either ATM or online, but it is nice to know our bank (US Bank) does watch out for customers because hubby got a replacement debit card from them after one of the hacker stories and use of debit/credit cards at a store. The bank reported there were suspicious things on people's accounts that had shopped there so issued everyone who had shopped there new cards. I'm glad they were watching (I was keeping an eye on things myself) and "fixed" the problem.

I too wonder what interest would have been from your first savings account if a dollar had been kept in there. It would have been fun to see!



Banking has changed so much. My grandmom had an account at Wells Fargo too.

I'm mostly known as 'MA' said...

My local bank changed names twice in the last few years. Most banks around here have done the same. I don't think there is any that are what they started out to be. Seems to be the way of things with bigger companies buy out the small ones. Every where you go you see the same chain stores too. I just finished up lunch here and I think I'm headed out for the patio now to soak up some sun. They say it's in the 50's but out there in the sunshine it is warmer and feels great! Hope you all are having a beautiful fall day there.

Paula said...

I remember my first account when I was our of high school and working at U.S.A.A. Mel decided to send me some money from the army to save for us. I think he was checking me out. lol It was all there when he came home plus a little more.

shirl72 said...

I do not like Well Fargo Bank,
that's where my money is so I
hope they will take care of what
I have. My banker is very good
and calls me when things change.
I am thinking about changing but
will take time. I might leave my
checking there and move my MM. I think Belmont Savings has higher
interest, but that could change.
Jack as you say spend it, maybe
I will buy a new car when I take it in for inspection. hee hee

Mevely317 said...

Nice recollections, Jack!

When I first moved to Arizona -- faced with the choice of several unfamiliar banking institutions -- chose Wells Fargo because a long time ago I wanted to be a cowboy (OK, cowgirl) when I grew up. Silly, huh?
WF and I've since parted ways, but I think the stagecoach is a neat icon.

Chatty Crone said...

I'd love to know how much interest it would have been. And how did that truck get like that?

Yaya Snaps said...

not a fan of Wells Fargo even though Don's dad worked for them back in the day and he even got to wear a gun...I bank with one of the other biggies plus a bank that caters to the military. my parents were big into that whole "don't put all your eggs in one basket" philosophy :)

how did they get that trailer hanging on the slope like are going to give us answers to these questions...someday...I hope :)

Sheila Y said...

Yeah we had Wachovia that switched to Wells Fargo. I don't like them, but it's a hassle to change banks. When we first got the new Wells Fargo cards, Rick thought it looked like Santa and his reindeer...ha. Take care, Sheila
PS. We're supposed to get quite the cool down this weekend. ❇;-)

Sheila Y said...
This comment has been removed by the author.
Sheila Y said...

Sorry I double posted...Sheila

Unknown said...

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Unknown said...

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