business

7% Top Money Market Savings Account Rate

By JOSEPH R. ZELMK Interest rates being paid on the county's insured money market deposit accounts have never been lower. Six of the county's 15 financial institutions are tied with the highest rate of 7 percent. That's at the same time that the 91-day U.S. Treasury Bill was creeping upward ever so slowly and paying 7.23 percent last week. When the accounts were created. 33 months ago in December 1982, they were offering brief "come on" rates of 15 and 20 percent and. for a short time, some were paying in the 10 percent range. IRONICALLY, a fairly new product at Collective Federal Savings & Loan is topping the money market investment accounts. It's a passbook money market account paying 7.1 percent. Unlike the money market investment accounts, which permit three checks and three deposits a month, the passbook has no checking feature, but unlimited , deposits and withdrawals. It has the same minimum $1,000 balance (and many of the institutions require a $2,500 minimum for the money market investment accounts). Foiliwing is a list, in alphabetical order, of the 15 institutions and last week's money market and BUSINESS DIRECTORY AUTO DEALERS s » 3 GREAT CARS UNDER 1 BURKE ROOF 0LDSM0BILE* CHEVROLET CADILLAC SALES-SERVICE-PARTS 522-1475 CLEANERS & LAUNCH: IE US. fw CLEANERS & LAUNDERERS EXPERT TAILORING Mi SUEDE A LEATHER CARE

Super Now (similar account. but unlimited check i ing) interest rates: Anchor Savings & Loan, i 6.9. 5.65. Cape May County Sav- " ings & Loan. 7, 6.5. Collective Federal Savings & Loan. 7, 6.3. Crest Savings & Loan. 7, 6. First Fidelity Bank/South, 6.6 no Super Now. First Jersey National Bank/South, GMMA, 6.5. GIA, 6.55; LI A. 6.5. First National Bank of Toms River. 6.75, 6. First Savings & Loan. 7. 6. Heritage Bank. 6.6, 5.3. Marine National Bank, 6.5, 5.75. Midlantic Union Trust, 6.6, 5.3. New Jersey National Bank, 6.32. 6.32. Bank Has A Loan Hot Line PENNINGTON - Getting a loan from New JerseyNational Bank is now as easy as dialing 1-800-542-5626. the bank's new Loan Hot Line. "People looking for a loan want their money as fast as possible; that's the greatest attraction of NJNB's new Loan Hot Line. If a customer calls the hot line before 10 a.m.. we guarantee a decision wit^in.24 hours. " explains Joan Ttogan. vice president in charge of asset/ liability operations. STAFFED BY the bank's customer service representatives, the hot line will be open 8 a.m. -8 p.m.. Mondaythrough Friday, from 9a.m. -1 p.m. Saturday. These times reflect the recently extended hours of the entire customer service department. which continues to handle customer inquiries on its regular toll-free 800 number. By instituting a loan hot line. NJNB has introduced a new dimension in convenience to its customers, who can apply for a loan from anywhere they can be reached by phone. "Our introduction of this newest New Jersey National Difference is part of an ongoing effort to provide the type of financial services that our customers want." states Helen S. Borne, senior vice president, operations services division.

Ocean City Home Sav- & Loan. 7. 5.8. Security Savings & Loan. 6.8. 6.6. Sturdy Savings & Loan. no Super Now.

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Candidate Night STONE HARBOR - The Cape May County Branch of The American Association Of University Women is sponsoring a candidate night 7:30 p.m. Tuesday. Oct. 1. at The Wetlands Institute. Stone Harbor Boulevard. All members and everyone interested are invited. For more information call 886-4029.

fLflj/iTOl -T ass MrigMgiMil ON H'Hli-Hiiillf CAMERA p>vu "umcm • 5914 NEW JERSEY 729-0161 WILDWOOD OPEN 8-5 Won. - Fri. CREST

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Money thots put into out -of town bonks and 5 G L s thot hove recently opened branches in South Jersey is used to benefit somebody else s home town NOT OURS Thot doesn't moke sense to us For over 43 years the Anchor Savings G Loon nome hos hod 0 decided impoct on the growth of Atlantic ond Cope May Counties

It s where we live To us our com munity comes first At Anchor we believe in putting your money right bock where we ^ got it YOUR HOME TOWN Our name remains Anchor Sovmgs G Loon ond we still toke the time to serve your needs All it takes to reoch us is o local phone coll'

Member Pl North Cape May Office FSLIC Pk. ' 886-5422 ANCHOR 'S SAVINGS & LOAN ASSOCIATION Rl. 0 and Gro\ eland .Venue. Somen* Point. New Jersey