Banking: Scramble for Savers

It is getting harder these days to tell a pin-striped banker from a shirt-sleeved discount-house salesman. With big bold ads, U.S. bankers who used to talk in dignified whispers are filling newspapers and airwaves with offers of higher interest rates on personal savings accounts. They are out to take business away from the faster-growing savings and loan associations, whose deposits since 1950 have swollen 500% (to $71 billion) while deposits in commercial banks have increased 200% (to $76 billion).

Postwar Baby. Until the postwar housing boom brought a huge demand for mortgage money, savings and loan...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!