IB—The Daily Collegian Friday, Sept. 11, 1981 Three local banks plan to install teller machines By MARK FEATHERSTONE Daily Collegian Staff Writer "Rosy," Mid-State Bank and Trust Co.'s automated teller machine, will soon have competition. Central Counties Bank, 122 W. College Ave., Peoples .National Bank, 117 S. Allen St., and Farmers Community Bank, 135 S. Pugh St., are all installing automated teller machines which should be operational by the end of 'the year. Central Counties' ATM will be called "The Bank," Peoples', "The Connection" and Farmers Community's will be called "The Combination." Elmer Grant, president of Central Counties, said recent improvements in ATM technology have made the use of automated tellers more attractive for both the bank and the customer. "Before, every envelope (in the ATM) had the same amount of money," he said. "It was a money machine. "Now the machines are on line (directly connected to the bank's computer.) The new machine will do more than the old machine," he said. Customers using the new ATMs will now be able to make deposits, withdrawls and trans fers between their checking and savings ac counts as well as make loan payments. Source of repair funds unknown By GENE GRYGO Daily Collegian Staff Writer Money for the repair of most State College streets may be made available through a loan, the issue of a municipal bond or federal funds or a combination of these sources, State College . Municipal Manager Carl B. Fairbanks said. Fairbanks - said the details of a possible bond issue package will be brought up at the Monday night meeting of the State College Municipal Council. In May, the council unanimously passed a motion that allowed Fairbanks to look into the options available to the council. One consideration is the borrowing of a three-year, tax-free interest note and the issuing of a 20-year bond at the end of those three years, he said. "We should have a good handle on (the bond issue package) by November's Money Saving Coupon 2 CHOPPED STEAK i DINNERS $6.39 Includes Potato, Toast & Salad Bar IMBINNI MN ME/ NM NM MN IMMO= NM Every Wednesday and Thursday All the Shrimp You Can Eat Expires 10/5/81 Rt. 322 N. Atherton State College Hours: Daily 11 a.m.-9 p.m Winner by a mile! When it comes to fait, free delivery, Domino's Pizza doesn't horse around. We guarantee 30 minute delivery and it doesn't cost a penny more. So give us a call. We'll be first down your home stretch...bet on it! Free Extra Thick Crust■' Free extra thick crust on any large 16" pizza Value $1.15 One coupon per pizza Expires: 9/18/81 Fast, free delivery 421 E. Beaver Telephone: 234-5655 II . Coupon Is slated value off gross price N Including any applicable sales tax. Asi se um me no ow am or mom imam son me Ns ma um smi ma . am ....... mai meeting," he said The total amount of the bond issue and how it will be funded depends on the findings of the council's financial consul tant, E.F. Hutton, and the amount of federal entitlement funds the municipali ty receives after being declared a Stan dard Metropolitan Statistical Area this summer, he said. Because of the SMSA designation, State College may now be eligible for federal money to benefit people with low to moderate incomes. The federal money may offset a reve nue increase, Fairbanks said, but if an increase occurs it will probably be in real estate or wage taxes or an increase in a license fee. "Whatever the effect is, it's down the road," Fairbanks said. Another complication in the issuing of the bond issue will be the onset of the Money Saving Coupon FREE BEVERAGE To All Students with purchase of any menu item Expires 9/19/81 cn • o Z 4 . L 0 I N Probably more important, the new ATMs will be able to give account balances as well, Grant said. "We now have a lot of calls saying, 'What's my balance?' " he said. "Now they can find out their balance at any time." Geoffrey Barnes, regional vice president of Mill-State, 234 E. College Ave., said that although the two ATMs now in operation one on College Avenue and the other in Altoo na cannot give account balances, the six new ATMs that are being installed this spring will be able to. Both Grant and David Thiel, vice president and cashier at Peoples National, said they see ATMs as another means of staying compet itive with other area banks as well as reduc ing costs. Thiel said, "It's an easier and cheaper way of handling a large volume of transactions and providing additional service beyond nor mal banking hours " Grant said, "It's an attempt to make bank ing more convenient. We've got to let people bank 24 hours a day, seven days a week." In the last five years, the cost of trans actions by automated teller machines have dropped dramatically while the cost of a transaction with a human teller has in creased, Grant said. Five years ago, an ATM transaction cost $1.25 while a human teller transaction cost 18 cents. Today, an ATM transaction costs 50 cents while a human transaction costs 55 cents, he said. One reason the cost of ATM transactions has dropped is that as more people use ATMS, the fixed costs are spread out over a larger number of transactions and the average costs drop as a result. ATMs are the wave of the future and will eventually transform the banking industry, Grant said. "Banking is changing. It will gradually take away the mundane, repetitive transactions from the tellers. (Tellers) will be more coun selors and advisers," he said. Thiel said, "An ATM can handle 95 percent Reagan Administration's new tax exempt savings certificates. The savings certificates are expected to lure inves tors away from the municipal bond mar ket. "The savings certificates can affect municipal bond sales," he said, but the market is too unpredictable to know the total effect of the certificates. "It (the uncertainty) confirms the wisdom of having a financial adviser." Councilman Fred J. Honsberger, chairman of the finance committee, said the council will borrow money for three years in the hope that interest rates will go down. "Personally, I don't see how interest rates will go down," he said. "They don't know if they can 'sell bonds. What we're saying is, 'Hey, we're not sure we're going to sell any bonds. We're going to see what's down the line.' " Tc.%( ST NS SOUP 5"1C" finjoyvvotrie o Summer at Ponderosa AUG. 14 L„, _ 499 iinn erEinY includes 1 i like r. 1ife7.,,,, . -..i- . '' -. , .2 c, des , S TEAK E DINNERS All-You-Can- Eat. Salad Bar Baked Potato COUPON MUST 111151111 ACCOMPANY PURCHASE in in Chopped a iii Steak ..II Burger .111 = Mil 11l $ 1099 111 111 111 im Includes.. IMII All-You-Can-Eat Salad Bar 1111 li PLUS. . . Choice of 11111 ge . Beverage (except milk) II g Bevera and dessert not Beverae and dessert not included. limit one rouvn per m .IM - OUPON GOOD FOR ANY PARTY SIZE included. Limit one coupon per couple per visit. Cannot be used IN Cannot be used with other MI couple per visit. Cannot be used with other discounts. ApplicableMl discounts. Applicable taxes not I. with other discounts. Applicable taxes not included. Sales tax M included. Soles tax applicable to BM taxes not included. Sales tax applicable to regular price where 11 regular price where required by ill applicable to regular price where required by law. At Participating law. At Participating MB required by law. At Participating Steakhouses. II Steakhouses. 111 Steakhouses. Offer good Aug. 14 is Offer good Aug 14NE Offer good Aug. 14 thru Sept. 13. 1981 thru Sept 13. 1981 m . ..rups.o lll 11l thru Sept. 13. 1981 1981 P MIMS& . P ' lEl=A' ONn,El sos& . a w i . Two for $4.99 RIBEYE STEAK DINNERS 1630 S. Atherton (At University Drive) 'We're on the verge of an interchange in banking. Within five years, you'll be able to use a Central Counties Bank card to get money anyiivhere in the country.' Elmer Grant, president of Central Counties Bank The streets to be repaired and curbed include: Locust Lane, Foster Avenue Hamilton Avenue and other streets that are in poor condition, Honsberger said. "No doubt about it," he said, "there are roads in this town that have never been built. These roads must be taken care of." Councilman Joseph Wakely Jr., chair man of the public works committee, said the money from the SMSA entitkment funds may pay for the new paving and curving of the streets of State College. State College may get $700,000 every year for the next three years, IT said. ° Wakely said it was too soon to say whether State College will get the federal funds or not. "The SMSA money goes for low and moderate income people," he said. The federal government must first determine what the economic situation is in State College, he said. BONUS COUPON © 1981 Ponderosa System, Inc of the transactions that the human tellers can handle." Grant said a nationwide hookup of ATMs will be set up in the near future. "We're on the verge of art interchange in banking," he said. "Within five years, you'll be able to use a Central Counties Bank card to get money anywhere in the country." ATMs may have a hard time being accepted by the general community even though they provide the customer with additional service, Grant said. "Other than University students, the older population doesn't always take to it," he said. "They've got to be convinced." Barnes said Rosy's main users are stu dents, possibly because many students especially those from larger cities have had with Butter COUPON MUST • II ACCOMPANY PURCHASE 1 •• Two for $4.99 RIBEYE STEAK DINNERS Party status hearing tomorrow By JOHN SCHLANDER Daily Collegian Staff Writer Tomorrow's hearing may be the last. step in the Consumer Party's quest for ballot status in Centre County. At the 2 p.m. hearing in Bellefonte Courthouse, courtroom number two, visiting Judge Paul S. Lehman, Mif flin County, will hear arguments on the case. Tom Ortenberg, Centre County Consumer Party chairman, said, "We expect a decision very soon after this hearing with the urgency of the upcoming election." Robert C. Rayman, attorney for the Consumer Party, said, "I think we have a good claim. 'AWARDS: Best New Artists of the Year (1977) (Country Music Magazine) Best Male Vocalist ofthe Year (1978) (Academy of Country Music) HIT SONGS: i Love A Rainy Night Kentucky Rain • Step by Step Rooky Mountain Music EDDIE 1M881771 with Sammy Jo Coe and Hare Trigger 2 Performances! Saturday, September 26 7 and 9:30 pm in Eisenhower Auditorium Tickets: Eisenhower Auditorium box office and HUB Booth, 9 a.m. to 4 p.m. weekdays. Phone orders accepted on Master Card and VISA only: 863-0255. The Pennsylvania State University Artists Series experience with ATMs. Fifty-four percent of the people opening new accounts during the past week a heavy student account week because of the opening of school wanted Rosy cards, he said. "Some older people are afraid of it," lie said. "The bulk of our cardholders .in State College are students." • Central Counties' goal is for the ATMs to handle about 9 percent of its transactions at the end of the first year of operation, Grant said. A recent issue of Time magazine reported Citibank of New York has 468 ATMs which are in bilingual in English and Spanish and handle about 30 percent of the consumer trans actions. Barnes said that although he does not know what percentage of transactions Rosy handles during a busy week with students here, the ATM on College Avenue handles about 5,000 transactions a week. Until the beginning of 1978, the State College Rosy was the busiest ATM in the nation, he said. Central Counties will be installing 12 ATMs representing an investment of over $1 million and will give it the most in the market area, Grant said. "I think our interpretation of the election code is the correct interpre tation." The Centre County commissioners and solicitor were unavailable for comment. The Consumer Party filed. a com plaint on April 24 asking that the county give it ballot status. If the party wins the case, it will have the same rights as the Centre County Democratic and Republican parties. This includes having the party listed on registration forms and the right to have its own ballot during prima ries. On June 25, Lehman dismissed the Centre County commissioners' ob jections to the Consumer Party's ballot status suit. P , SURVIVAL KIT II Hills can help make your dorm room or apartment a real home away from home. Decorate your new place with warmth and style... at Hills everyday low prices. We're the Anti-Inflation Department Store. 4.;, 5-SHELF STORAGE UNIT All steel construction, adjustable shelves. Easy to assemble. 30"x58"x12". Almond, red, green or blue. 18.97 miol PLASTIC STORAGE I MILK CRATES Red, white, yellow or brown. 12 1 / 8 "x12 1 / 8 "x10 3 / 8 " (inside dimensions) 3.97 each CLOSET ACCESSORIES Durable plastic, break resistant, non rusting or corrosive. Assorted bright colors. Hangers, set of 3 Indoor Dryer. ... 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