Herald & Lantern 21 December '83

business

37

ist Savings Paying Top Money Market Interest

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By JOSEPH R. ZELNIK First Savings & Loan of Sea Isle City continues to pay Cape May County’s highest interest rate on the year-old insured money market accounts. A Herald-Lantern survey found First Savings paying .9.25 percent last week, followed by Crest Savings & Loan of Wildwood Crest with 9 percent. After that, the other 13 financial institutions were paying interest rates ranging from the 8 percent low at Citizens United Bank of Woodbine to 8.93 percent at Sturdy Savings & Loan of Stone Harbor.

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Sturdy continues to be the only financial institution in the county pegging its interest rate to the 91-day U.S. Treasury Bill. THE ONLY OTHER financial institution locked into an external fiscal factor is Ocean City Home Savings & Loan which matches the Friday local Federal Funds Rate, the fee banks ctairge each other for overnight reserve lending. Ocean City was paying 8.75 percent last week, fourth highest in the county. The other institutions arrive at their rates weekly by “management decision,” which usually means they try to guess what th6 competition is paying. The insured '^noney market accounts were

created last December to compete with uninsured money market mutual funds. Those accounts had about $232 billion a year ago and are now at $165.6 billion. Most of that loss flowed into insured money market accounts. They require a $2,500 mininum and permit a maximum of six transactions. a month, three of them checks. There also are so-called “Super Now’’ accounts with unlimited checking, but they pay lower interest rates. The rates change weekly, and customers can learn them by contacting the institutions. FOLLOWING LIST in alphabetical order of the county’s 15 financial in-

Material Needed For Travel Shoes

COURT HOUSE - Literature from Cape May county businesses is needed to supplement Cape May County material which will be distributed at 20 travel shows during the winterearly spring travel show season, which gets under way Jan. 13. Freeholder Anthony T. Catanoso, director of the county’s Public Affairs Department, said municipalities, county and area promotional groups and private business can have their promotional material on display at the consumer-oriented shows in which the county booth will be on display. There is no charge for this service. Anyone having literature to distribute may drop it off at one of several drop-off points in the county. The material will be picked up at the drop-off points by the PublicAffairs Department. ANYONE HAVING material should make arrangements to have it at the drop-off points well in advance of the shows to assure that it is available when the literature is loaded for the shows.

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Drop-off points include the Ocean City Information Center, the Cape May County Chamber office on • theTiarden State Parkway; the Wildwood Information Center on 6ie Boardwalk, the Cape May City Information Center and the Public Affairs Department office at the Cape May County Information Center and the Public Affairs Department office at the Cape May County Airport. Sea Isle City, Avalon and Stone Harbor businesses and promotional agencies may use the County Chamber office as a drop-off point. For information, call the Public Affairs Office, 609-886-0901. Travel shows scheduled or ia process of being contracted for the 1984 season include: Jan 13-15, Annapolis, Md; 18-22. Deptford; 27-29, New Castle, De ; 21-29, Cincinnati, Ohio; 26-31, Monroeville, Pa Feb 14-12, Columbus, Ohio; 4-12, Harrisburg, Pa; Feb 29-March 4, Pittsburgh, Pa; Feb22-26, Pennsauken; Feb 29-March 4, Suffern, N.Y.; Feb 29- March 4, Concord, De March 1-5, Allentown, Pa; 9-12, Greensburg, Pa 10-12, Ocean City, Md; 14-18, Boxborough, Mass; March 23-April 1, Cleveland, Ohio; March 30- April 8, Montreal, Canada. April 4-8, Buffalo, NY; 12-15, Parkersburg, WV; May 7-12, Pointe Clair, Canada. Levy Heads Condo Unit MARGATE — At the November Meeting of the South Jersey Condominium Managers Association, Ron Levy, -of Wildwood Ocean Towers, was elected president of the association. Other officers for the 1984-1985 term are Tom Burris, The Spinnaker, Sea Isle City, 1st vicepresident; Ed Miller, The Warwick, 2nd vicepresident ; Vivian Williams, 9600 Boardwalk, recording secretary; Elayne Kramer, California Villas, corresponding secretary; and Candy. O'Grady, The Plaza, treasurer.

stitutions gives last week’s insured money market in terest rate followed by the Super Now interest rate: Anchor Savings & Loan, 8.5, 7.5. Cape May County Savings & Loan, 8.55, 6.5. Citizens United Bank, 8, 6.5. Collective Federal Savings & Loan, 8.6, 7.9. Crest Savings & Loan, 9, 8 First Jersey National Bank, South, 8.1, 6.64. First National State Bank of South Jersey, 8 25, 6.75. First Savings & Loan, 9.25, 8.4. Guarantee Bank, 8.2, no Super Now, but a computer “sweeps" checking accounts daily and puts anything above a designated amount in the insured money market account. Heritage Bank, 8.2, 7. Marine National Bank, 8.15, 7. Ocean City Homes Savings & Loan, 8.75, 7.93.

Security Savings & Loan, 8.93 no Super Now. 8-25,7, Union Trust Co. Sturdy Savings & Loan, Wildwood, 8.4, 7.

Season'si Greetings

femcei e fcesl uislies for a Iwlulay adorned with' loir and laughter, peace and Joy. To our dear friends and vafued customers go our deepest thoughts of thanks. from The Directors and Staff of the Union Trust Company

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IVVarmWishes of theSeasonj jVYarm ^ M( 0ur , j

Friends & Customers

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ASSOCIATION OPEN Mon. thru Fri. 9 am to 5 pm 263-7823 137 J.F. Kennedy Blvd., Sea Isle City, N.J.