Pullman herald. [volume], April 11, 1919, Page 4, Image 4

About Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989

Image provided by: Washington State Library; Olympia, WA

                
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ftviecfl f/ie A'dtion /.gams/ Invasion. Protects th Property Owner Against Fire Loss. Protects the Depositor Against the Loss of His Funds. .
PROTECTING
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That Which Should Be Protected
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A TRAINED and equipped fighting force protects the nation against invasion.
An Insurance policy protects the owner of a building against loss through fire.
The Washington Bank Depositors Guaranty Fund protects the public against
the loss of deposits through bank failure.
Military protection and insurance Its affairs must meet the approval of History of the operation of State
were born in the long ago. , the State Bank Examiner. Bank Depositors Funds discloses the ad-
The Washington Bank Guaranty Sound principles must govern the con- mirable record of not a penny loss for
Fund is a comparatively new form of duct of its operations. ~ patrons of banks holding membership in
protection. Its capital and surplus must bear th a fund.
The Washington State Legislature correct re l a tion to deposits. The law permitting the Washington
passed the law which made this fund pos- It must be a thorougWy good bank Bank Depositors Guaranty Fund was 1
I , i . „ . _ . A i ... _• , __. wr „ . framed to include the best practices of
The fund is provided through assess- Administration of the Washington similar , awß of other gtates ,%
ment of banks that subscribe for member- Bank Depositors Guaranty Fund is by a TL 1 j • • . _i_ lIL . ,
ship. board composed of the Governor and . Jh ° %*™™ X admission is that this law
Assessments are based upon the State Bank Examiner, ex-officio, and « the mo St thorough and most exacting
amount of deposits held by each bank three members appointed by the Gov- ail similar laws,
that subscribes. ernor. lh provision of certain states for a
Operation of the fund parallels insur- While there is nothing more uncer- f Und V* g uarant «e deposits of bank pa
ance. It is, in reality, a form of insur- tain than the variation of individual cir- tr °nS .aS ro™ d 8° practical that con
gee, cumstances and nothing more certain than gre ß ** considering an act which will
For a specified amount individuals the average variation of a great number I? ake l _ *S** M* for . certain bank
can insure against loss of material pos- of circumstances, the law which made throughout the whole United States to
sessions. For a specified amount- an as- possible the Washington Bank De- gua™£ tee d. ef oßlt*.
sessment based upon the average amount positors Guaranty Fund, has provided v i v W provide patrons of these
of deposits— bank can protect its pa- against emergencies. banks the same protection for their de
trons against loss of deposits through Should there ever happen to be so Posits that State and Government have
bank failure. The primary difference be- many bank failures at online as to long demanded for theirs M^£
tween the operation of the Washington make the fund inadequate to reimburse k W' M wu^ T^ h? ld menV
Bank Depositors Guaranty Fund and in- all depositors at once, warrant!™ the fe?fep m $£■ Washington Bank Deposi
surance, is that the individuals must pay fund are issued to depositors by the State I * Guaranty Fund are already enabled
for insurance while the subscribing bank Bank Examiner. Xsfwarrants daw *° "SJSSSSS ?" d* P°«ts. fL £ L
must assume the expense of membership five per cent interest until the guaranty 1 7 "Fi" 1 advance of the forthcom
m the fund. unr i :«. a „ a :„ i„ M " i*. guaranty to g national law.
Co* of holding a membership is a de^Uorfin fuT * re,mWße „, Abank holding a membership in the 1
factor that has restrained some banks A lanm „,™l„ -* k._i. r -i . Washington Bank Depositors Guaranty
from subscribing. Inability to qualify for one time _Zfcll • kr"-^ at und " a 00* bank to know-a better
membership ha, eliminated others v"sion howev« ,„ % ,mp?fs,ble; Pro" bank to have an account with.
. No bank, regardless of how sterling mote 'possSv^s md "a* *** • .The imM flayed in the upper
it. reputation may be, can procure a pie en«. of {.L 1»_. U^k th co™- "*** hand corner is the mark of distinc
-nber^ip without tbe formality °an gg|* ,aDeSr.&S . ftS* I||§ « *"* gf ;
Make it a point to seek out this bank.
This Bank Guarantees all Deposits
>. Your Account Will Be Appreciated '
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Pullman State Bank
The Bank of Personal Service
PULLMAN HKRAIJ)
Friday, April 11, i ol g