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1st Savings Back Atop With 9.75% Interest

By JOSEPH R. ZELNIK With U.S. Treasury Bill interest rates continuing to slide, many Cape May County financial institutions have been sharpening their pencils in recent weeks. Result: a realignment in the interest rate leaders for those insured money market deposit accounts that require a $2,500 minimum and limit the investor to six transactions a month. Ocean City Home Savings & Loan, which had offered the highest rate the last three months, fell to fourth-place behind First Savings & Loan of Sea Isle Citv. Crest Savings A- 1 y\an

of Wildwood Crest and Sturdy Savings & Loan, in that order. First, wtiich had been first for mire than a year before Sturdy, then Ocean City, replaced it, was paying 9.75 percent last week. Crest was paying 9.5, Sturdy 9.35, and Ocean City 9.3. Right behind were Collective Federal Savings & Loan, 9.25; Cape May County Savings & Loan, 9.1; and Security Savings & Loan, 9. If saving, rather than three checks a month, is your goal, Collective recently created a money market passbook account that was paying 10 percent last week, apparently the best rate available for that kind of liquidity. It has a $2,500 minimum, like the other accounts, and the customer can move money in and out whenever he likes. Ron Wood, manager of Collective's Ocean City office, said that account was initiated to bring in some money and did "pretty

well," although there were "a lot of internal I transfers." « 9 There also has been a y realignment in the highest rates paid on the Super I Now, which is an insured t money market account with higher minim urns and l unlimited checking. Ocean • City's 9.17 percent in the ' county's highest, followed > by 8.9 percent at Frist sav- ) ings and 8.75 at New Jersey National Bank, i The interest rates on all these accounts change by management decision whenever management wants to, but normally i weekly, normally on ! Tuesdays. The only vmy to get the latest rate is to conlanl IKo incfifiiftstm tact -

Following list, in alphabetical order, gives last week's money market interest rates followed by the Super Now interest rates paid by the county's 15 financial institutions. Anchor Savings & Loan, 8.85, 7.6. Cape May County Savings & Loan, 9.1, 6.5. Collective Federal Savings & Loan, 9.25, 8.25. Crest Savings & Loan, 9.5, 8.5. First Fidelity Bank South, 8.5, no Super Now.

First Jersey National Bank/South, GMMA, 8.7; no Super Now; LIA, 8.7, 7.12. First National Bank of Toms River, 8.9, 8. First Savings & Loan, 9.75, 8.9. Heritage Bank, 8.75, 7. Marine National Bank, 8.65, 7.25. Midlantic Union Trust, 8.75, 7.25. New Jersey National Bank, 8.75, 8.75. Ocean City Home Savings & Loan, 9.3, 9.17. Security Savings & Loan, 9, 7.25. Sturdy Savings & Loan, 9.35, no Super Now.

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S.J. Gas, 2 Unions Ink Pact FOLSOM — In a joint announcement by the management of South Jersey Gas Co., the Industrial Union of Marine and Shipbuilding Workers of America and the International Brotherhood of Teamsters, union employes of South Jersey Gas Co. ratified a threeyear contract effective Nov. 8. The new contract calls for a five and one-half percent increase per year for the next three years. Employes of South Jersey Gas in the Cape May Division are represented by the international Brotherhood of Electrical Workers under a separate contract, which is still under negotiation. South Jersey Gas Co. provides natural gas service to approximately 162,000 residential, commercial and industrial customers in all of Atlantic, Cape May, Cumberland and Salem counties and in portions of Burlington, Camden and Gloucester counties.

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Germans Originated,' * Yule Tree *. The first Christmas tree, originated in Germany, was decorated with apples and round wafers. The apples signified Adam's fall and the wafers represented the Sacred Host as redemption. These apples and wafers were later replaced by Christmas cookies which became elaborate through the years. The early German settlers introduced their fancy cookies to America in the 18th century. Some of their most treasured heirlooms were their cookie molds made of tin, wood, or clay.

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» * If you like what we do for your savings, you'll love our newest convenience^-, •Now you can get something more at the place / where you save.. . MasterCard and VISA, the cards ^ v that give you purchase power at thousands of stores. restaurants and hotels across the country and around / the world. When you get both cards, youll enjoy the extra Nj' convenience of single statement billing— one monthly' statement that lists the transactions for each card separately With only the one bill to pay. yoiill find it lots simpler to do yr your budgeting / Apply for MastefCard. VISA or both at any of our nearby branch offices. jS Gel MasterCard and VISA right here where you save. We're in the business of making your money make money. rax: ||t Cape May county savings * total Association Matn Off tea: 225 N. Main St.. Cape May Court Housa 445-5600 Branch Offices: 217 Jackson St.. Cape May 5*4-0900 • 3301 Atlantic Avenue. Wildwood 522-2447 • 1899 Bayshore Road, Vtllaa *66-2773 • 40 S Shore Road. Marmora 3*0-3500 • 301 Aahury Avenue. Ocean City 3*0-7400 « Opening soon: Rts 9 and 47, Rio Grande .„