4AThe Daily Tar Heel Wednesday, August 22, 1984
. "71 JT
oney
Area banks compete for business
By VANCE TREFETHEN
Business Editor
Time spent thinking about where to
open your checking account in Chapel
Hill may seem like time wasted, but
choosing the right place for your money
now may save you time and money
later.
Students generally choose from two
basic types of checking accounts:
regular accounts and NOW (Negotiable
Order of Withdrawal) accounts. A
regular account is one in which your
money simply stays in the bank until
you write a check. With a NOW
account, your balance earns 5.25
percent interest while you still have full
check-writing privileges.
In order to avoid service charges, you
usually have to meet certain minimum
balance requirements, which vary from
bank to bank. Often you can keep a
balance in a savings account that will
allow you to avoid service charges
regardless of your checking balance. If
you don't meet the requirements, you
will have to pay service charges, usually
a flat monthly fee and a charge for each
check you write.
Most banks will tell you that their
services best .meet your needs, but it's
up to you to compare costs and benefits
when you sign up for a checking account
at a Chapel Hill bank. Experts suggest
different things to look for when making
the choice.
"Most people chose their bank
according to the location," said David
Harris, branch administrator for
NCNB's Chapel Hill office. "We have
seven branches in Orange County. Six
of them are in Chapel Hill. We have
five Automatic Teller Machines
available."
Concern for the . needs of student
customers is something students should
look for when selecting a bank, Harris
said.
"Some banks take the position that
students are the least important custo
mers. But we don't look at it that way,"
he said.
In addition to knowing what the bank
can do for them, Harris advises students
to know what they need to do to use
their checking accounts responsibly.
"The most important thing is to make
sure you keep good records. Be sure
the money's there before you write the
check."
Frequent bad checks now can mean
a damaged credit history later on, said
Harris.
Other banks stress quality service and
concern for the needs of low-budget
college students.
"There's a big quality customer
service push,"said Elizabeth Williams,
assistant manager for the Chapel Hill
branch of First Union National Bank.
"We think for a student we require the
least amount up front for free check
ing." Students who don't have a lot of
money to deposit frequently come to
First Union to take advantage of their
checking services, Williams said.
But other banks are reaching out to
students by trying to offer better service.
"I think we give better personalized
service," said Danny Fox, vice
president and city executive for First
Citizens Bank and Trust Company's
Chapel Hill braneh.
"Many students come from small
towns. We try to maintain a small town
atmosphere for them. We take addi
tional time to explain things to the
students so there will be no surprises,"
said Fox.
Banks also try to compete for cus
tomers by offering greater convenience
and personal .contact for student
customers.
"I think the fact that we're open on
Saturday is a convenience no other
bank in Chapel Hill offers," said Vicki
Bang, bank services co-ordinator for
Village Bank in Chapel Hill.
"We are a local institution. Our
customer base is Chapel Hill and
Carrboro. There's a lot better chance
that if you bank with us, we're going
to know you better," she said.
Another possibility to consider is
opening a checking account with a
savings and loan association rather, than
a traditional bank, although the services
they offer frequently do not fit the needs
of students as well as those offered by
banks. -
"Savings and loans don't usually offer
the kinds of services that students are
looking for," said Edward Mann,
president of Orange Federal Savings
and Loan Association. Customers at
savings and loans often get better deals
than at traditional banks, but they give
up the conveniences of branch banking
and automatic teller machines, Mann
said. . '
. .- .. .
Open
Sii A
Save up to 60on everything in all our stores!
Four stores and ten years ago
Thanks to your support, we're now celebrating the grand opening of our fourth store exactly ten
years after opening our first. To show our appreciation, .we've made special factory-direct
volume purchases from our major suppliers and we're celebrating with our biggest sale ever-at
all four Stereo Sound locations!
FREE
Stereo Sound T-Shirt
with any item valued at $10 or
more (limit one per customer)
FREE
Headphones
with the purchase of any
portable
FREE
Professional Car
Stereo Installation
with the purchase of any car
stereo system .
FREE
Stereo Sound tape
Club Membership
with the purchase of any home
cassette deck
FREE
Telephone
(true touch tone)
with the purchase of any home
stereo system
FREE
Stylus Cleaner
with the purchase of any
cartridge
sum s
Tape Price Slashers
JVCFl-90
Sale 79 ea.
TDK SA-C90
MaxeVl
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Sale l65 ea.
T303
' Limit 5 each
Tape Club members no frnit. Join the Stereo Sound Tape
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The Best Digital Audio Disc Player
YAMAHA CDX1
Experience music like you've never heard
before. Now at a price you can afford.
Sell-A-Thon priced at
Includes 20 discount on any 3 compact
discs at the Record Bar.
$499
x
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Complete YAMAHASystem
Sale $475
v..
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Eroy beautiful music now with this Sel-A-Thon special
from Yamaha-the most respected name in audio. It
includes:
Yamaha P220 auto return belt drive turntable with
cartridge
Yamaha R3CO AMFM Stereo Receiver with 30
watts per channel
Yamaha NSIOT Speakers
Remember. a8 purchases at Stereo Sound are
backed by our own service dept. Other complete
systems start at $349. ,
TOOHIQAj
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VM-4"CfVC'
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Beta format. 105 channel cable readv. sti & slow motion 7
event. 7 days programmable, 9 function wire
Reg 54WVtx
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Sale r349
Includes free member shp to North American Video Tape CUd.
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Cassette Deck
With Dolby B & Soft-toucK controls, this no
nonsense performer from3VC is a real
bargain! SalG $99
Stereo to
from CROWN
Check out this amazing Sell-A-Thon offer
Buy this component style stereo
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detachable full range speakers and
AMr-M stereo radio for only
$159
Get this Crown Stereo
Cassette Walkman
with headphones
and
Crown In-Dash AMFM
Car Cassette Player
FRE
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JVC
Quartz-locked direct drive auto-return
turntable complete with cartridge. Reg.
S18 Salens
'B While they last!
Lightweight Headphones
Includes adaptor for use with
O YAHAHAK320
Cassette Deck
With Dolby B&.C, music search & more.
Our best selling cassette deck.
Sale $219
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20 Band Home Equalizer with .
Spectrum Display 3Qle 99
200 watts.
Brackets included.
3-Way speakers
With diecast
aluminum cabinet.
Sale29'5
Pair
Complete Car System
Featuring the ever popular Alpine 7150 AM
FM irvdash cassette with auto reverse and
Maxima 5V" slimline speakers for a perfect fit.
installed! Sale $199
3r:3afr
60 oft list price! Plus we'll install & align it
free! Just bring in your turntable.
CfoWn feTiohcsl blereo Cassette Player
with AM-FM. built in speakers,
and headphbnes. .
, Sale $45
Your Choice
includes lO year
warranty from Stereo
Sound
DS-810
3 Way Speakers
- Rea. $258 pair
Sale569
ea.
or
JVC-SK-544
3-Way Speakers
with 12" woofers
Reg. $3CO pair
ea.
Sale $99
Telephones
True touch tone! Reg. $25
Can be used with all e
long distance services.
Chapel Hill
175 E. Franklin St.
(Above Four Corners)
942-8546
Greensboro
'2705 High Point Road
(Next to McDonald's)
292-7400
tmesaiB ROrrtably., errors
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Raleigh
7105 Glenwood Avenue
(Next to Circuit City)
782-4111
Winston-Salem
3443 Robinhood Rd.
(Across from Pizza Hut)
768-0150
Taking Carolina by sight and sound
in prices & specifications do occur in printing. We reserve the right to correct such errors. Some items similar to illustrations.
Minimum Balance
To Avoid Monthly Overdraft
Monthly Charges Charges Charge
Wachovia Free-Way $400 in savings or $3 month and $15
$500 in checking 20rcheck
Wachovia NOW $600 daily $3 month and $15
20t check
Central Carolina Bank $400 in checking or $5month and $15
(CCB) Regular $500 in savings 20 check after
Checking 20 checks
CCB NOW $1000 in NOW or $6monthand $15
$750 in savings 20 check after
20 checks
First Citizens Bank & $500 in checking or $3 month and $15
Trust Free Checking $500 in savings or 20c check
($50 minimum to open) $1000 average in
checking for the month
First Citizens B&T $600 daily or . . $4 month and $15
NOW $2000 average for month 20ccheck
NCNB Regular $500 in savings or $2 month and $15
Checking $600 in checking or 25 check and
. $1000 average checking 15c Automatic
balance . Teller transaction
NCNB Bonus Checking $750 in savings or $4 month and $15
(NOW) $1000 in checking or 25c check and
$2500 average in 15 Automatic
checking Teller transaction
Village Bank Regular $300 in checking or $3 month and $15
Checking $300 in savings 20c check
Village Bank NOW $500 in savings or $4month and $15
$1000 in NOW or 20rcheck
$2000 average in NOW
for month
First Union Advantage $300 in savings $3 month and $15
Account 20e check
First Union Regular $400 in checking $3 month and $15
Checking 20c check
First Union NOW $500 in NOW $3 month and $15
20c check
Northwestern Bank $400 in checking or $3 month and $15
Regular Checking $500 in savings 20 check
Northwestern Now $500 in NOW $3 month and $15
20ccheck
Home Savings & Loan $400 in NOW $5month $10
NOW
Orange Federal Sav. & $300 in NOW or $1 month $ 8
Loan NOW . $500 in savings 15check
Security Federal Sav. & $1000 in savings $4 month $7.50
Loan NOW ($100 or $500 in NOW (Can- (Cancelled checks
minimum to open) celled checks returned returned)
to you) or $400 in NOW $3 month (with
(If you use checks carbon copies)
. with carbon copies)
WHY WAIT UNTIL
THE FIRST DAY OF
CLASS TO REALIZE
YOU'RE NOT SEEING CLEARLY?
Arrange to have Dr. Costabile examine your
eyes now, before school. Have your new
eyeglasses or contact lenses fitted and have a
clear focus from the start.
- Dr. Thomas A. Costabilo
- OPTOMETRIST t :
235 Elliot Rd. Next to Mario's
Kroger Plaza 968-4774
Is Landlubber's better than Calabash?
That's what our customers are saying.
You
be the Judge!
landlubbers
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Mofe)
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"Cah Style
Hfvnjiji AvdiUblf
Km iiid Wine
iMi ! -lJLi.JlL 'ILL.:
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UFsIC "Stoidlemitt
Acc5dlBnnil sinncdl
SncrikmicBSS Himstinirsiimce
FDsiim
Available to all registered
students at the University of
North Carolina.
Last date for enrollment
September 30, 1984
Effective for twelve month period
August 15, 1984 to August 15, 1985
Hill, Chesson and Roach
P. O. Box 3666
Chapel Hill, NC 27515
Phone:(919)967-5900