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ATM page 71

7100 Orchard Lake Rd. • West Bloomfield • 810-851-7200

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20

24 mo.
lease

To Choose
From

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111

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STK #V7624

THE CADDY THAT ZIGS.T.

Loaded, Full Power

00*
ONLY $ 28,649

NO JOKE • NOT A DEMO • WON'T LAST LONG

Purchase price only. Just add tax, plates, title. All rebates to dealer. Stk #V7624. **24 month close end lease 12,000 miles per yr w/ 150
excess. $999 down, 1st pymt., security, acq. fee, lux. tx, use tax, title & plates with approval through GMAC. Sale ends 6/30/97. All prior
sales & agreements do not apply. Stk #V7624.

.

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THE DETRO T JE WI SH NE WS

•41:.,,• 0.*.k.,

72

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Minimum $500

CORM
Minimum $5,000

*Unlimited Checking!

(810) 380-6590

21211 Haggerty Road at 8 Mile,
Next to the Novi Hilton.

Next time you feed your face, think about your heart.

Go easy on your heart and start cutting back on foods that are high in saturated
fat and cholesterol. The change'II do you good.

lip American Heart Association

Cr
Lil6a

FDIC

Insured
75
Annual Percentage Yield is effective as of April 24.1997. Penalty
for early withdrawal. Business or brokered accounts not eligible.

MICHIGAN HERITAGE;

WE'RE FIGHTING FOR YOUR LIFE

August. The surcharge NBD will standpoint, selfishly, they cost a
impose has yet to be announced. hell of a lot less than checks.
'What's happening in Michi-
Venture capitalist Selwyn
Isakow is chairman of the board gan, and you can't credit the
of the Bank of Bloomfield Hills. banks for this, is that the auto in-
Founded in October 1989, the dustry has decided this is the
bank reported net assets of $102 way to go.
"And because of the way the
million at the end of March, up
from $84.2 million the previous auto industry is structured, with
many single-source suppliers, the
year.
Among well-known leaders of Big Three auto manufacturers
the metro Detroit Jewish com- have got a huge amount of pull
munity who served on the Bank over this supplier base. They
of Bloomfield Hills' Community have been able to mandate that,
Advisory Board last year were and it hasn't been true in other
Doreen Hermelin, David Schostak industries," explained Mr. Dunn.
But there are exceptions. In
and Stanley Winkelman.
The Bank of Bloomfield Hills' the retail industry, Meijer tried
1996 annual report lists ALYN- to require vendors to accept elec-
American Society for Handi- tronic payments, and reportedly
capped Children in Israel and are up to 8 percent. By contrast,
Yeshiva Beth Yehudah among Chrysler a month ago said they
community organizations sup- were over 90 percent.
Banks in some cases are being
ported by the bank's directors
forced to keep up with the auto
and employees that year.
Both Franklin Bank and the companies in terms of process- ,—/
Bank of Bloomfield Hills also of- ing these payments, but Mr.
1,
fer courier service as another Dunn said the practice is spread-
popular feature. "Response time ing because it really is a good sys-
is very important to us," said tem.
"So maybe the guy who makes
Bank of Bloomfield Hills' Ms.
Miller, adding that the bank has the bumpers doesn't like the fact
a runner working all day, in- that General Motors forced him
cluding making runs to down- to accept electronic payments,"
Mr. Dunn speculated. "But once
town.
According to Franklin Bank's he gets it, many of the auto com-
Mr. Dunn, "At a bank the size of pany suppliers are finding that
Franklin, the probability is that they like it a lot, and now they —\
you'd have an identity as a cus- are turning around and using it
tomer and we would understand downstream to their supplier
base and em-
some of your
ployees."
needs ... We try
However, Mr.
to have superi-
Dunn foresees
or delivery ser-
the trend in-
vice, targeted
creasing on the
to the business
commercial side,
person's needs
as distinguished
as to how your
from the con- —\
deposits get to
sumer side.
the bank, and
"We are really
we try to offer
one of the elec-
more personal-
tronic banking
ized service
centers in the
so that at
country, which I
Franklin you
think will be
are not allowed
great for local
to become a
businesses and
granular unit."
banks alike.
Consumers
"As far as the
may be sur-
Franklin story,
prised to know ATMs and telephone banking are the
we're working
wave of the future.
that Detroit is a
very hard to
very electronic
market. Michigan adopted ATMs maintain competency and stay
very early — Michigan National on the leading edge in those elec-
Bank was among the most ag- tronic products," said Mr. Dunn.
Does Franklin Bank have all
gressive exponents — and ex-
tensive systems are in place in this capacity in-house? "Yes, we
do, and we're spending millions
the state.
__
Coming on quickly on the com- of dollars to stay on the leading, —
mercial side are the electronic edge of that."
Originally organized by local
payment systems. You may al-
ready get your Social Security businessmen without the help of
check or your paycheck and de- a banker, what is today Franklin
posit it electronically. But there Bank was founded in December
are systems that allow busi- 1983 as Franklin Savings Bank,
nesses to pay each other. And FSB. It was a state-chartered
they are extremely efficient. They savings and loan until 1991. In
are good for the customer and 1989, it became the first thrift in
just as good for the bank for effi- the United States to file for a
charter change, a complicateci-±
ciency•and speed.
"And frankly," said Franklin two-year process.
Franklin received its federal
Bank's Mr. Dunn, "from our

