The last thing you as a bank customer want to do
is give hard-earned money to the state. Nor would
you like to see your savings or checking account
dwindle because of maintenance fees. But that is
what could happen if your accounts .
become dormant, r i X 7
An account becomes dormant -
after there has been no deposit or
withdrawal activity for. a certain
period of time, usually two to five '
years depending on the account
balance. After that stipulated
period has elapsed, and that time
may differ from bank to bank, the
dormant accounts are identified I
and kept separate from active
accounts. This procedure removes inactive accounts
from the work that must be processed everyday, and
helps, bankers monitor the accounts for protection
against fraudulent use. n - ' -
m4
DORMANT
ACCOUNTS
By Steve Brown
SAT..AUS3ST1.1S31
Ti:2cr.:LOTf:--if
.Steve Brown
Once a savings account becomes dormant, most
banks will attempt to notify the depositor. Perhaps
the depositor simply forgot about the account, or has
died, or maybe moved out of state. The notification
will inform the customer, or heirs, that unless there
is a customer-initiated activity within a required
time, maintenance fees will be charged. There are
several alternatives available to the customer:
1) reactivate the account by making "a deposit,
2) transfer the balance to an active account, 3) close
the account or, 4 leave the account as it is and pay
the maintenance fees.
7 Some banks may have a cutoff point above which
no maintenance fees are charged. For example, a
bank may not charge maintenance fees on a dor
mant savings account of $100 or more. Accounts
below that amount are often subject to a charge
because the income earned from such small amounts
The need to push someone down' in order that we
might stand heads and shoulders above them is an ego
need to which we are conditioned early in our competi
tion between students at every educational level.
We are constantly in intense competition with
everyone. If we fail to win the competition, we label
ourselves as losers and chastise ourselves with inner ;
humiliation, stress and self-flaggelatiori. We are driven
to "win" over somebody anybody. We select a vie-
' L i 1 I t- t i - -
tun wny is narmiess ana compete, ror wnc wnue person,,
blacks become the "harmless" victims' who can provide
whites with the feeling of "victory" that would not,
otherwise be forthcoming.' Blacks must, however, take
their frustrations out on each other. 7 7
Society does not provide blacks with an opportunity,
to get back at their tormentors the white person '
Regardless of our own 'sentiments, the nice thing
about the Reagan Administration is the opportunity for
all Americans to see the "true color" of oW elected of-
ficials. The Democrats are not laying down and playing
dead, but are showing their true conservative colors
with their votes on the budget and tax cuts. Both sides
of the aisle in the House and Senate are playing their
trump Cards, throwing caution to the wind, forgetting
that the "jokers are still wild," and the deuce has yet to
be played.
Ronald Reagan is the best thing to happen to black
Americans. For too long we have taken a passive stance
on issues affecting all Aspects of our lives. For too long
we've turned the other cheek without fighting against
people, places and things which would adversely affect
our lives. For too long we have not gotten out to work in
our own best interest. No Morel If we are to survive, if
we are to get a piece of the pie, we had better wake up,
speak up. and get out and hustle for our piece of the ac
tion. Augustus Hawkins, Democratic representative from
California and a member of the Congressional Black
Caucus, noted in his July 1981 address to the National
Medical Association that it has been the southern
Democrats (like Thurmond of S.C., and Stennis of
Miss.) who have, with their swing votes, assisted in the
reduction of benefits for those on food stamps, cuts in
public service jobs, etc. It has been the southern sector
of "the Dixiecrats" who have tipped the conservative
scale. Interestingly enough in these southern states
represented such as North Carolina, South Carolina,
Alabama, Mississippi and Tennessee, black Americans
often make up thirty per cent or more of the population -in
certain areas. As currently disu-jctedtu jjnay, not bej
enough blacks to select a black senafof or congressman
but surely there arcenough to tlttlh'e vStirig one way br ""
another' "77:
Do not be deceived. The present administration has
the blessings of a larger segment of voting black
Americans than is appreciated. Reagan captured at least
15-20 of the black vote during the last Presidential
elections, Funny, when you listen to some of what he
says, ypu hear middle class and upper echelon blacks
echo many of the same type of sentiments in private.
You've heard it, haven't you? "Blacks ought to get off
their behinds and work. No one gave me anything!"
"Welfare mothers have babies to get a bigger check. .
Now he's cutting them off arid its what they deserve."
On the, other side, we hear the apologists for our
behavior talk about how we have been denied equal ac
cess to education and jobs; yet one can point to "the
boat people,' ' Haitian refugees, and Cuban exiles who
have risked life and limb to take opportunities at which
many of us turn our nose up. Welfare mothers say they
can't work without child care, yet funds for it are being
axed. Black children, for too many generations, have
been born to the welfare roles while their father's
'Coping ' - v :-
Racism: The Need That It Fulfills
" Part VII
, f, . By Dr. Charles, W. Faulkner
except vicariously. It is for this very reason that physical
confrontation between the races, such as boxing mat
ches, bring out the ugliest elements of racism. Whites
side with the white combatant and cheer for him to
pound to black into submission. This symbolizes the re
establishment of their "superiority." Blacks support the
black opponent and glory in his victory which sym
bolizes their "Getting back at the man."
In racial terms, the character of leaders is of utmost
significance because they represent a model. They repre
sent a characterization and possible fulfillment of one's
own needs. If the leader is successful, followers are hap
py, proud and have minimal frustration. They have
something to live for. If the leader is unsuccessful.
Spectacles: A Closer Look
Conservatives Out Of The Closet
By Ada M. Fisher
absence financially and emotionally
their mothers and the system.
The conservative posture is fast becoming pompous,
overbearing and accusatory blaming the victim for
hisher plight. They would limit the access of women to
legalized abortions yet deny assistance to children born
of misfortune. They would deny women their equal
rights yet make it impossible for a man alone to support
his family in a business world dominated by a sole con
cern for profit. They would insist that prayer be allowed
in school, yet some subscribe to a view that the prayers
of the Jews are not heard. They would complain of the
Band-Aid approach of previous administrations to
society's stab wounds, yet now seek to take away the
Band-Aids and tell us to heal ourselves. They would
espouse their belief in the Bible which has Ten Com
mandments one of which they interpret to mean "Thou
shalt no kill"; yet they would finance enough bombs to
blow up the world six times over while millions are being
deprived of enough food to eat. They would go to no
end to get folks off of public assistance yet keep Lear
Jet, McDonald Douglas, Chrysler and other large cor?
v;poratiOns on public welfares They; would? cut? off.'
iiS0fifiJ3.t retirees .yet. pad theirown pension plans at;
i.MWbUcJ!s..aq the Cbnstfeu
tion, yet invoke censure on those who do not share their
views. And the list of contradictions in the present con
servative posture could go on; but they've got the votes
so why should they care? '
Those of us who have become conservative by our
station and comfort in life, would do well to appreciate
that in all of our getting, we should not forget our com
passion for those less fortunate and we must not lose
our humanitarianism. Black conservatives, Wake Up!
We may reap financial benefits now, but they are com
ing at the expense of our brothers. "What profits a man
is permitted by to gain the whole world, if he loses his soul." Conser-
does not oflset the expenses. The amounts charged
are usually small about $1 to J per qv. arter out
they caadelete an account over several years. -
Under North Carolina law, accounts which are
dormant for five year are escheated to the state,
here they are held for seven years. During this
seven-year period, account holders have a right to
reclaim their money from the state. Money not
reclaimed goes into the state's education fund,
. .Some banks elect not to pay interest on dormant
'savings accounts.. Other banks continue the pay
ments which prevents them from becoming totally
inactive and protects them from escheatment. In
either case, it's in your best interest to take care that
your accounts do not become dormant so that your
funds will be available when you want them. .
v Steve Broum, a banter for $ix ytart, is manager . of Wachovia
' Bank and Trust Company $ East Independence Office in Charlotte.
(For use between August 3-August 15, 1981) '
followers'tend to be unhappy, frustrated and depressed.
If no leader exists; people of similar hue tend to wander
aimlessly and, often, hopelessly. .. . ., . -
, Leaders provide a psychological "ground, a basis
for self-pride and an inspiration to carry on the fight.
Blacks tend to be presently in a nearly leaderless void.
Hope is diminished and frustration is at its bistoncal
highest. Whites can point to this factor as a reaffirma
tion of black inferiority and white superiority.
Your questions are welcomed. Suggestions for future
articles will be appreciated. Cassette tapes of this and
other articles are available for individual use, discussion
groups and classroom use. All letters and inquiries
should be sent to: Dr. Charles W. Faulkner, Post Office
Box 50016, Washington, D.C. 20004
vatism is fine, but not at the expense of our souls.
; Black People, Wake Up! Talk is cheap. It's the votes
that count. Votes speak a language which all politicians
hear be they liberal, moderate, or conservative. A
number one priority for all Americans is the extension
of the Voting Rights Act of 1965. The one way to main
tain a finger in the action is to exercise our Democratic
right to vote. Black People, Wake Up! Register and
Vote. Fight back if you disagree. If they give you block
grants which do not speak to your needs, give them
block votes and put them out of office. Fight for your
freedoms. Do not lose your soul.
;7i
CHECKING WITH INTEREST
, , Is one of many ways we offer where your morjey cart work for
" lent locations. We want you to see if checking with interest is right for
you, because with us... ,
L J MECHANICS & FARMERS BANK
You're Somebody
Sg)G8a)K:
Ti6West parrish Street
615 Fayettevills Street C
.411 E. Chapel Hill Street
UcatcdSUIevidtln:-
r
a voteless
people is a
hopeless
people.
The Block Grant Proposal
By Congressman Augustus F. Hawkins
In addition to slashing spending for social programs by nearly $40 billion and cut
ting taxes, (at least for big business and the well to do), Mr. Reagan hopes to change,
the way in which the Federal government funds programs for health, education and
other social services. Mr. Reagan hopes to bring about this change by consolidating
nearly one hundred categorical programs into "block grants" to state and local
governments with no strings attached, si 7 7
The notion of block granting to which Mr. Reaganrrefers is hot new, and has been
pushed by various groups since the 1960's as a way of turning federal decision making
back to state and local officials.. ' . . -77 ':'y-': ' V ' ";
Simply stated, "block grants' are federal payments to state or local governments
for generally specified purposes, such as health, education or law enforcement; The
monies which the Federal government gives to the state or local governments as a
block grant must be spent on programs in the general area, but state or local officials
make the decision on specifically how the money is to be used.
7 According to the President and supporters of block granting, "The Federalgdvern
ment in Washington has no special wisdom in dealing with many of the social and
educational issues faced at the state and local level; and those who are closest to the
issue should decide how it should be approached." '
Proponents of block granting point out that the 84 health, education and social ser
vices programs that the Administration proposes to consolidate into block grants en
compass 616 pages Of laws, 1,400 pages of regulations, more than 10,000 separate
grants and about 88,000 grant sites. As a result, administering the grants now requires
more than seven million hours of paperwork and several thousand federal employees.
Proponents argue that consolidating the programs into, six or seven block grants will
promote greater economy and efficiency and enhance coordination by forging links
between formerly separate activities. '
Critics of the Administration's block grant program go on to contend that aside
from not achieving greater efficiency or responsiveness, block granting will result in a
brutal struggle at the state and local level over which programs to fund, The critics
argue that those without politically strong constituencies who just happen to be
organizations which serve minorities and the poor are almost certain losers. With
already. deep funding cuts and no special protections for poor, minority, and han
dicapped citizens; disadvantaged groups would be pitted against one another for "a
piece of the pie". As a result, handicapped individuals would be pitted against the ag
ed, foster care parents against child care advocates, mental health patients against the
schools, etc.' I r ;:-' r:n:
; Contrary to the President's claims of social safety net and protections for the truly
needy? there is nothing in bis block grant plan that would specifically protect the truly
needy. In fact, according to his critics, the President's block granting plan would
abolish dozens of specific prdtections. For example with respect to health,' there
would be no requirement that funds be targeted to low income or needy people. Con
sequently, all families, regardless of income, would be eligible under thesocial service
block grant. . ' ., - .
In a time when funding for worthwhile social programs is diminishing, everything
Gwsible must be done to root-out waste and inefficiencies in existing programs,
owever, if the block grant concept it used to achieve this end, I urge the Administra
tion to first address concerns raised by critics of the proposal.
CBoaw
1
if..m .. Af.. an.. ...... .IP1
On Sept. 17th, we're going to make headlines
just for buying only Black newspapers that day!
BOCA is asking all Black men and women to
show their support for Black media by buying
Black newspapers Sept. 17th.
; It will be the first time there's ever
been a nationwide show of support for C .
Black media. And rnillions of people are
' expected to participate in this historic
demonstration of Black unity.
: We urge you to be one of them.
All you have to do is buy a Black
newspaper Septj7th. You'll be joining
in a massive vote of confidence for your
Black media. And you'll be sending a
message: that you care about Black
newspapers. That you value them as
a source of truth in the community.
And that you recognize the
historical relationship between Black
papers and Black freedom. (One of the , prew
very ftrst Black businesses was a Black
newspaper -The Freedom Journal -started
in 1827 by an ex-slave, John
Russworm.)
Just as important', you'll be a part
of an opportuniry-a chance for a grand
scale demonstration 01 tne consumer 7 ma,
power that exists when millions of Black J
people work together. And that's -' ULa.
something you can be proud of. : tie
. : Just as White newspapers across
America report news that reflects the 1
interests 01 wnitcs, ciacK newspapers . Eeje;
'continue to struggle to present the newsiest -that
reflects Black interests.
Mark your calendar for Sept. 17th. Buy a Black
newspaper and only a Black newspaper. Then "be
prepared to read all about it.
"September 17th is brought to you by BOCA who
is proud to be sponsoring this Press tor Power.
I -
Own
kac.
el
"fcciaia.
MHIIoos of Clack men and women boylr ctlf C!zi ;
newspapers, September Ia lJ. -v? , "
:silv!rinA RO.Bcx2757Gr2ndCcntrcI
, Bex 2757 Grcnd Ccntrcl Sts:ai, KcvVbrk.rteA'brt; 10017