THE DETROIT JEWISH NEWS
Friday, July 15, 1966-3
UPON RECOMMENDATION OF
THE RESPECTIVE BOARDS AND
OVERWHELMING APPROVAL BY
THE MEMBERSHIP OF EACH
ASSOCIATION, AMERICAN
SAVINGS AND LOAN ASSOCIATION
OF DETROIT HAS MERGED WITH
AND ABSORBED THE SERVICE
SAVINGS AND LOAN ASSOCIATION
OF DETROIT.
Of what importance is this to you?
To customers of the former Service Savings, it means that you will continue to receive every privilege you
have been accustomed to . . . plus the added convenience, stability, management and modern methods that
are now yours in being part of Michigan's largest state-chartered savings and loan institution.
To prior customers of American Savings, it means that your association has become even stronger—in as-
sets, in reserves, in offices and in perSonnel to serve you. American Savings now ranks among the 75 largest
savings and loan associations in the United States . . . over 82,000 customers and $186,000,000.00 strong.
And to non-customers of American Savings it means that the growth of this sound, progressive financial in-
stitution is adding to the stability and economic vigor of the community in which you live . . . building the per-
sonal security and financing the homes of its residents .. benefitting everyone, a little bit more.
JUNE 30, 1966
CONSOLIDATED STATEMENT OF CONDITION
ASSETS
Cash, U. S. Government Bonds,
Federal Agency Debentures and
Investments
Stock in Federal Home Loan Bank
First Mortgage Loans
Home Improvement Loans,
Loans on Savings Accounts
Land Contracts on Residential
Properties.
Real Estate Held for Redemption
Real Estate Owned
Office Buildings and Equipment
Other Assets
Total
$ 13,188,795.06
2,670,000.00
162,955,122.65
71,416.1.1
494,782,32
1,706,418.88
848,477 58
6,856.05
2,394,639.91
1,861,360.24
$186,197,868.80
LIABILITIES
Savings Accounts
$157,376,108.35
Advances from Federal Home
Loan Bank
14,200,000.00
Loans in Process
216,681.78
Specific Reserves.
112,060.45
Other Liabilities (Largely for taxes
prepaid by Borrowers)
4,519,447.27
General and Special Reserves
9,773,570.95
Total
$186,197,868.80
Alfred L. Deutsch
President