12
Wednesday. March 30, 1977
University Daily Kansan
Bankers explain options available to students for checking, loans
By STEPHEN HESS
Staff Reporter
University of Kansas students who do their banking in Lawrence will find that they are treated no differently from other customers, Lawrence bankers say.
V. Johnson, vice president of University State Bank, said recently that KU students were treated the same as other customers for competition for customers in a growing city.
There are three types of checking accounts at University State Bank: regular, which provide that persons who keep a large amount of money may exempt from service charges; special, which requires service charges of 75 cents a month and 7 cents a check; and bank-club, in which, for a $3.75 monthly fee, a person may pay a service charge or pay for checks.
"EACH PERSON will want to decide which checking account would be best for him." Johnson said. "On the bank-club method, a person is entitled to a $10,000 accidental death policy provided with the fee."
Johnson wouldn't say how many KU students had accounts with the bank.
Overdrawn checks are a problem at most banks. Johnson said the amount overdrawn usually determined whether University State Bank would pay it.
"Overdrawn checks are the responsibility of the maker or the writer of the check," he said. "When an overdrawn check is sent to us, we must decide within 24 hours what we're going to do about it. If it's not an amount of money, the bank will usually pay it."
University State Bank doesn't have a written policy for how much money it will pay on an overdrawn check, but it makes a judgment in each specific case.
THE BANK ALSO loans money for almost
them. Johnson said, but it is
somewhat posterity, since the
bank has not loaned to anyone.
A bank can charge a $7.50 minimum to give a loan. It now costs a borrower an average of 10.2 per cent interest over a 36-month period. Kansas law allows banks to charge a maximum annual rate of 14.45 per cent.
"retire giving out a loan, we check out the applicants' credit application, personal history, job and marital status and most important, his financial situation," Johnson said.
we're looking for a means of security. If a student has a job or some means of income to show that he'll pay back a loan, we more likely to consider his application.
KU STUDENTS may cash checks, get money orders and order travelers checks at the KU banking service in the Kansas City area when a checking account or ask for a loan.
Larry Billings, union business manager, said KU had no more problems with overdrawn checks than local banks did.
"We receive several bad checks every week, although we don't know how many exactly." Billings said. "When we receive a bad check from the same person twice, we generally send it to the student's bank, which may decide to close his account.
"WE ALSO notify the student by calling him. If he doesn't respond in two weeks, we either call SARB (Student Account Manager) or have the attorney counsel so that they can collect the money."
SARB is an organization that tries to collect bad账 check payments after normal procedures have failed. If a student accumulates three bad checks, the Business Office can handle it as a student's office control, or it can block his enrollment for the next semester.
The KU banking service levies a $3 fine for each bad check.
"SINCE THERE'S an increased number of bad checks at KU, we're seriously considering employing a collection agency that would collect them," Billings said.
First National Bank has no written policy for bad checks. But like most banks, it looks at each case, according to Robert Georegson, executive vice president.
"We determine whether or not we pay a bad check on each situation, just as if we were deciding on whether to approve a loan," he said. "Students are just like the general public—they're about equally responsible."
Lym Anderson, vice president and trust officer of First National Bank, said his bank usually didn't pay an overdrawn check because he made prior arrangements with the bank.
FIRST NATIONAL charges $3 for each overdrawn check.
Lawrence Bank and Trust Co. has two types of checking accounts; regular, which provides that anyone carrying a $200 minimum bank balance receives no charge for cashing checks; and special, for which checks cost 15 cents each but without service fees. A special check is designed for people who write only a few checks each month.
A customer's record is reviewed if Lawrence Bank and Trust receives a bad check, Judy Wenger, vice president and head of teller operations, said.
**WE TRY TO correct a bad check problem by writing the customer or by some other means of personal contact." Wenger said. "If we decide the account that's overdrawn is for unsatisfactory reasons, we close the person's account and turn the case over to the sheriff's department."
"We look at how much money is overdrawn and how recurrent the problem is"
If Douglas County State Bank receives a bad check, it returns the check to whom it was written. The bank can then request restitution or prosecute the writer.
MAX FALKENSTIEN, vice-president of Douglas County State Bank, said, "The bank should never be blamed for a bad check, except it should close an irresponsible person's account if the situation warrants it. "The bank simply acts as an intermediary between the maker and the navie."
Falkenstein said that his bank didn't give discounts or extra benefits to KU students, but that everyone was considered on his own merit.
"KU students aren't any more or less of a problem than anyone else, but I'd rather not say how many students do business here," Falkenstein said.
THERE are two types of checking accounts at Douglas County: one with a 70- cents-month service charge and a charge of 7 cents for each checked cashed; and one with no service charge if a person can balance the account on their bank balance during a 30-day-period.
All people must meet the same qualifications to receive a loan. Falkenstein
"An unemployed student will generally have a harder time getting a loan than a graduate."
'WE CHECK on the people he'd done business with, and then we notify the application.
"Banks are depositors and lenders," he said. "Some day we hope to develop electronic banking so that by the use of mechanical tellers, a person could bank 24 hours a day. But right now things are pretty competitive, and there isn't too much difference in interest rates and service charges."
PATTY MURPHY'S CASE SERIOUS
Dr. J. R. Gas reported to the men of the SAE today that Brother Patty Murphy's condition looked bad. Years of over consumption have left only a liquid filled cavity where his liver should have been. The liquid is believed to be made up of a combination of Derby Club Bourbon and Sugar Free Dr. Pepper. No speculation has been offered for how or why one would injest such an odd combination or what effect it might have on the Human Body.
HANG IN THERE PATTY
said. The money the group receives is used to cover travel and promotional expenses. Tickets for the performance are $2.50 for children and students and $3.50 for adults. They are available at the SUA office in the Kansas Union.
Music group wants a new image
The group, sponsored by the University of Kansas, Lawrence High School and Haskell Indian Junior College, is fighting the image conbo, according to member Mike White.
"Up with People," an international musical and educational group, will make its first appearance in Lawrence April 12 at 8 p.m. in Hoch Auditorium.
"We want to debunk the myths that we are goody-goodies." White said. "During intermission and after our show we get out and talk to the audience. We discuss all kinds of topics, and sometimes you get religion."
Audience participation may be what distinguishes the group, White said.
"WE LIKE TO, during the show, grab people from the audience and get them dancing with us, or encourage the audience to sing with us," he said.
The group's music is very broad in appeal and difficult to cultivate, White said.
The group mainly comprises University of Arizona students, who travel with a professor. They can receive two hours of credit for their participation in the two-hour performances. Members range in age from 18 to 25.
and it includes a number of medleys and upbeat un-tempo songs.
Families in cities where the group performs house members, White said. The group needs families to provide room and care for two nights and possibly two meals a day.
"So far, we need places for 60, and have found only 12 in Lawrence."
SUA schedules musical tribute
The group has toured 30 countries, and it
leaders in Caracas, Venezuela, Brunei
and Brussels.
"Up with People" charges for its performances and receives donations from corporations and companies. Contributors also are encouraged to help how the non-profit group is promoted, White
"Side by Side Sondheim," a musical review paying tribute to American composer Stephen Sondheim, will be presented at the Big Eight Room of the Kansas Union. Sondheim composed several musical scores, including "Folles," "Gypsy" and "Happened On The Way To the Forum." General admission tickets are $2 at the
General admission tickets are $2 at the SAU office in the Kansas Union.
See new spring look AT OUR new location.
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We feature short & long sleeve
4 button snap sleeve Western shirts.
New Kansas City strip jean
New selection of boots
YOUR WESTERN STORE IN LAWRENCE
RAASCH
SADDLE & BRIDLE SHOP
Open 9:30 a.m. to 6 p.m.
Open 8:30 Thursday
209 W. 8th
TO HAVE AND TO HOLD...
An Awareness Conference on Marriage, Love and Relationships Marriage Hollywood Style
Wed.—The Philadelphia Story
Thurs.—Father of the Bride
Fri.—Adam's Rib
Movies in Dyche Auditorium, 7:30 p.m.
Admission 25c
Marriage 1977 . .
Saturday, April 2 - Kansas Union
Featuring small group presentations/discussions
PINE ROOM
10:00 a.m. ESTABLISHING PERSONAL IDENTITY IN MARRIAGE—
Peter Baldwin Lynn Moore
Oare Balfour Dick Orr
Bob Davis
11:00 a.m. SEX AND MARRIAGE: PROBLEMS AND REMEDIES— Diane McDermott
1:00 p.m. WHAT DOES IT MEAN WHEN YOU SAY "I DO"?— Dr. Karlyn Campbell
2:00 p.m. TO HAVE OR NOT TO HAVE CHILDREN— Nancy Berry Gary Bryant
REGIONALIST ROOM
HOW-TO CLINICS: MARRIAGE
CEREMONIES AND CONTRACTS—
3:00 p.m. ALTERNATIVES TO THE TRADITIONAL MARRIAGE— Casey Elke Diana Katt
THE SACRED AND THE TENDER—
(Marriage and Religion)
Dr. Bob Shelton
THE LEGAL ASPECTS OF
MARRIAGE—
C.J. Wood
Sponsored by the KU-Y. a student organization partially funded by the Student Senate Activity Fee.
THE HOMOSEXUAL RELATIONSHIP—
Todd Van Laningham