Ifwewereanofficer,histitlewouldbeassistant-cashierandchief-teller.
Thatsoundsveryconfusing.Whydon'tbanksjustmakealldepartmentmanagersofficers?
It'spartofthebank'ssystemofassigningauthorityandresponsibility.
Afterall,bankshavespecialobligationstotheirdepositorsbecausewearehandlingtheirmoney,notonlyourown.
That'sright.AndIamadepositor,too.I'vegot$37.50inmyaccount.
BettyRogers,atellerattheFirstNationalBank,isexplainingthebank'scomputersystemtooneofhercustomers.
Whatdoyoumeanbythetermon-linesystem?
Basically,itmeansthatallourbranchesareconnectedtoourcentralcomputersystem,Sir.
Thispermitsustoprocesstransactionsrightaway.
Doyoumeanthatdepositsandwithdrawalsarepostedtomyaccountimmediately?
Yes,weprocesscashtransactionsassoonastheytakeplace.Checkdepositsarecredited,subjecttocollection.
YoumeanthatIcan'tdrawagainstadepositbycheckuntiltheproceedsarecollectedfromthebankonwhichthecheckisdrawn?
Yes,that'sright.Butitonlytakesovernightforanybankinthecityandjustadayortwoforbanksoutsidethecity.
Doyoukeepallsavingsaccountrecordsoncomputer?
Yes,savings,checking,loanandinstallmentcreditaccounts,too.
On-linecomputersystemshelpusprovidespeedyandaccurateservicetoourcustomers.
Oh,that'swhywemustusemagneticallyencodedchecksanddepositslips.
Yes,thecomputeratourdataprocessingcentercanreadallencodeditemsautomatically.
Ofcourse,you'llnoticethattherearecomputerterminalsatmosttellerwindows,too.
Tellersusethemtoprovideimmediatecomputeraccessforalltransactions.
Theyspecializeinlong-termsavingsaccountsandusuallylendmoneyformortgages.
WhataboutmutualSavingsBanks?Whatdoesthatmean?
Thosearespecialsavingsassociation,likesavingsandloanassociations,whichareownedbythedepositorsinsteadofstockholders.
Usuallytheyspecializeinmortgages,too.
Whydon'ttheyoffercheckingaccountslikeyourbankdoes?
Theyareorganizedfordifferentpurposesandtheydon'thavetheauthoritytooffercheckingaccouts.
That'safunctionforcommercialbanksonly.
What'salong-termorindustrialbank?
That'saspecialbankforindustrialdevelopment.
JohnAndersonandBettyRogerscontinuetheirdiscussionabouttheoperationandorganizationofherbank.