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V12 2009 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 12, Number 30, July 26, 2009, Article 27

$190,000 IN TWENTIES, PLEASE

We've all heard the stories of people who try to make a stick by paying off debts with buckets full of coins. Here's a switch on that tactic from New Zealand, where a bank depositor made a statement by demanding to withdraw his considerable balance in piles of twenty dollar bills. -Editor
Withdrawing cash in New Zealand Roger Griffiths, a successful artist is Mapua, New Zealand, lost it when Westpac, the bank he'd been with for 25 years, declined to give him a NZ$80,000 mortgage because, as an artist, he doesn't have a regular income. He does, however, have a ton of property, a gallery show in NYC, and NZ$190,000 on deposit with Westpac. Which he promptly withdrew. In twenties. And then he deposited it with his local, community-oriented credit union, the Nelson Building Society.

He said the Nelson branch told him it did not have that amount and he would have to also go to other branches at Stoke, Richmond and Motueka. However, he insisted the bank have the money ready to collect at 9am today. He then took it to the Nelson Building Society, saying he would rather deal with NBS because it was part of the community.

His message to Westpac: "If you don't support the community, the community won't support you."

To read the complete article, see: Artist takes $190,000 out of bank because they won't give him a mortgage (www.boingboing.net/2009/07/23/artist-takes-190000.html)



Wayne Homren, Editor

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