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THE McHENRY Facts for j " . ' 1 " | M ' '• - Thursday. June 30. 19SS . ' °'V -:'. V. >. '•'•V.'-m'-' • ' "•', ' ;S'.:-'" ' !' ].'(•••' . ' ••" "• • . v.: i" ~ > » here's the^ inside story on ; 6 ' >' , America's Fastest-Growing Financial Institution.... Your Savings and Loan Association PERHAPS YOU ONLY HAVE /our foot on the bottom rung of the ladder. Ma/be you've finally reached the top after years of hard work. Or it might 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 Moneyl And you probably already know that money can be a "sometime thing," unless 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 another"! For instance, a cookie jar or mattress aff6rds 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 of every three or four families in the country today is taving money in a Savings and Loan Association? Do you know that one out of every three families who mortgaged a town or suburban home last year borrowed the money from a Savings and Loan Association? In fact, the amount of money saved with our type of institution has been increasing at a faster rate, percentage-wise, than in any ot/ier 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 misconceptions about Savings and Loan Associations. Let's look at the facts: i I I how will you benefit from borrowing from safety There's no better safety for funds... anywhere! First of all, there's the financial structure of our association with ample liquid ass&s, Surpluses and Reserves resulting from the sound financial policies of our conservative management. Secondly, your money is invested chiefly in monthly- payable mortgages on owner-occupied homes one of the safest investments 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. withdraw-ability You can withdraw your savings from our Association just as easily and quickly as you can from any other savings institution. The combination of our holdings of cash and Government Bonds, steacjy flow of new savings, monthly 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 we too reserve the right to request reasonable notice of wit your SAVINGS AND LOAN ASSOCIATION? \ Since every day more and more people turn to Savings and Loan Associations 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 purchasing. 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 installments like rent, thanks to the pioneering of Savings and Loans. These monthly payments include 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 any time without penalty, provided the payment is made with your own funds. There is an extra advantage to this Prepayment Privilege: If you pay in advance and later on go through a period of financial crisis, 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 Period1" and has saved many a home owner from the dreaded foreclosure of olden days. Another big feature of a Savings and Loan Mortgage is the "open-end provision."1 This permits you, as a borrower, to apply for additional funds for repairs, remodeling or other eligible purposes without incurring costly refinancing charges. Repayment of these funds can be spread over the remaining term of your loan by a modest increase in your regular monthly payment, or the payments may remain the same and the loan period extended. earnings i Our Association has always paid the highest earnings compatible with safety. This is a higher rate than other types of savings institutions because in a Savings and Loan Association, * 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 sey_--- lected, owner-occupied homes . . . steady an<fl sure income! CURRENT DIVIDEND 3% ^SSSZSHSaSHSasaSSSeSSSaSHSHSHSHSHSSSaSSSSSaSHSZSHSHSHSSSESSSJSH Savings Accounts opened on or before July 11th are credited with our liberal earnings from July 1st. Use these days to adjust your financial affairs! iHHS!!SES2SESHH5E5E5ZSE52525S52S2S?52525252S25252S2Si!)2S?S?S2S?S25; convenience No other type of savings institution can surpass your Savings and Loan Association in convenience. First of all, we have a handy locatibn. 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! how did Savings and Loan Associations start? The first Savings and Loan Association in America was founded in 1831, a year early in the era of Commercial and industrial development wh ich was to make this nation the wealthiest on earth. At that time, as now, there was a real need for specialized financial institutions to assist American families in the accumulation of savings and, equally important, to finance those families in the purchase of homes. The first borrower was a lamplighter named Comly Rich. He was loaned the munificent sum of $500 for a two-story frame house that still stands in Frankford, Pennsylvania. In the 124 years of service since then, the Savings Association has never digressed from its original purpose. Today, over 57% of America's families own their homes and about 37% of all the homes purchased are financed by Savings and Loan Associations. Moreover, today over 16,500,000 people are entrusting their savings to the Savings and Loan Associat'ons ... the total amount of savings exceeding 28 billion dollars. Through the years, these community financial institutions have successfully withstood 13 major economic depressions; survived 5 wars and have been an important influence in both thrift habits and home ownership. Every man, woman or child with money in a Savings and Loan Association, shares in the wealth of the United States. TOTAL RESOURCES OVER $6,000,000 MARENGO FEDERAL SAVINGS and LOAN ASSOCIATION 102 NORTH STATE ST. MARENGO. ILLINOIS TELEPHONE 99 V