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Show January 2, of the First Security Savings and Loan Association, with a 3'i per cent earning rate on all savings. The savings and loan operation will open in the new First Security Building on Main at Fourth South street in Salt Lake City. .First Security already has savings sav-ings and loan operations in Idaho at Pocatello and Idaho Falls, where the rate of earnings will be increased in-creased to 32 per cent on all accounts, ac-counts, beginning January 1. Increased Savings Interest Announced By First Security All 63 banking- offices of First Security Bank system, including the bank in Sugar House, will increase in-crease interest on savings to 3 per cent beginning January 1, George S. Eccles, president, announced late Thursday. Mr. Eccles also announced an-nounced the opening .in Utah on "The new bank interest will apply to all savings accounts up to $2,500," Mr. Eccles said. "However, "How-ever, the new higher bank rate of 3 per cent will be made available to both individuals and businesses desiring to save larger amounts, through savings certificates. These certificates will be available in multiples of $100, with no limit as to the total amount of savings. Certificates will earn at the same 3 per cent rate over a six months period from the date of issue." Mr. Eccles pointed out that while the new First Security savings and loan operations will not open until January 2, "savings placed by January Jan-uary 10 in all our savings and loan branches in Utah and Idaho, will receive 34 per cent earnings from January 1." "The increase in our bank interest rates and the opening of additional First Security savings and loan operations were prompted by considerations beyond the present pres-ent competitive interest situation," Mr. Eccles said. "First Security traditionally has been a principal supplier of mortgage funds in the intermountain region. During the past four years, for example, First Security banks have advanced well over $110 million for the construction construc-tion and purchase of homes and business establishments. In order to continue supplying the needs of this fast developing territory, all recognized methods of attracting and encouraging savings must be employed to meet these demands." (Continued on Page 7) aircraft Artillery and Guided Missile School at Fort Bliss, Tex. Chipman completed the school's 27-week surface-to-air missile electrical materiel maintenance course. The 22-year-old soldier attended the University of l)tah. First Security (Continued from Page 2) The First Security leader noted that savings and loan associations, "by the nature of their operation, have been able to offer a higher rate of return on savings, making an added incentive for thrift. For I those savers who, recognizing the difference between a bank deposit and a savings and loan investment, prefer to avail themselves of the latter service, First Security makes it available." Mr. Eccles added that "anyone wishing to open a savings account in one of the First Security savings and loan associations, may inquire at any of our First Security banking bank-ing offices in Utah, Idaho or Wyoming." Service Men . . Army l'FC Evan L. Madsen, whose wife, Darlene, lives at 824 E. 6i00th S., recently participated in "Sabre Knot," a field training exercise with the 559th Field Artil-ery Artil-ery Missile Battalion in Germany. The son of Mr. and Mrs. Harold J. Madsen, 890 E. 6100 S., was graduated from Jordan High School, Sandy in 1951. PFC Garry E. Chipman, son of Mr. and Mrs. Glen E. Johnson, 2205 Redondo ave., recently was graduated from the Army's Anti- |