Scouts-L Mail Archive for November of 1998: Fw: Banking at Its Best
Fw: Banking at Its Best
Fri, 6 Nov 1998 15:58:33 -0500
> Banking at Its Best
> When my son was a young teenager, he and his friend set
> out on a bus across town to purchase skateboard axles. They
> each had $20. When they arrived downtown, they discovered
> they needed more money to cover bus fare and sales tax. They
> were short $3.75.
> A branch of our bank was nearby, so they decided to go
> in and take out a loan. The teller told them that was not
> possible, but that they could get a cash advance on their
> parents' credit card. So they called home, but got no
> answer. They tried the teller again to see if anything more
> could be done. She referred them to the desk of the vice
> president. When he asked why the bank should give them a
> loan, they answered, "Because we're Boy Scouts and good
> students, and very trustworthy." He said that since they had
> no collateral, they would have to write out and sign an IOU.
> They did, and he in turn gave them the money they needed to
> complete their mission.
> We found out later that this wonderful man lent the
> boys his own money. (My husband called him the next day
> asking for the same terms on a home loan!) In talking with
> the man, we learned that he had made many such loans,
> including a large one to a Navy wife whose allotment was
> delayed. He said he's been repaid almost 100 percent of the
> time, and that the opportunity to help others in this way
> was one of the most rewarding parts of his job.
> My son and his friend hopped on the bus the very next
> morning. They paid off their loan and received their IOU
> signed by the vice president. It was banking at its best.
> -By Sharon Borjesson