tplee@sftig.UUCP (T.P.Lee) (09/04/85)
NJ is one of those states that still have many relatively small financial institutions around town. The process of deregulation in this financial service industry makes these smaller outfit difficult to survive. Imagine that these S&L has to serve many "small" accounts while big money gets attracted by the Big institution, some from other states. Many people have predicted half of these banks/S&L will disappear through buy-out and mergers in the next five years to achieve better scale of economy. It is unfortunate to see that we have to pay so much for many small services. Good old days are going away... I am paying $3.00 for my finanicial institution (originally a brokerage house) for their services including direct deposit of payroll and many other goodies. I guess $5.00 charge is a clear message to ask people to put up more money or to get out.