Sron wie Ft Business CIBC SHUTS HORSESHOE BAY OFFICE Bank branch closure burns businessmen SOME HORSESHOE Bay businesses say they can’t count on the Commerce after bank management decided to close the local branch. Dan Sewell said Sewell’s Marina has banked with the Imperial Bank of Commerce for 56 years, but he’s now reviewing whether to take his business elsewhere. “I feel the Commerce has acted in bad faith in the community,’ said Sewell. ‘“‘When the Commerce went to centralized banking, although it made a lot of sense, my words of caution to them were they should be careful not to lose personal touch with the community.” Sewell said he’s upset he didn’t receive notification from the bank MAIN STREET MERCHANTS The Quality Car from Europe as. 5 SP 65520 Plus treignt & PDI Vancouver European Autoworld 1389 Main St, 987-5690 Sales N 987. “5500 Service Your mind has an amazing Capacity to remember. Our computer systems have amazing capacity also. They can store data, records, reports, bud- gets and more. You can recall any of that information at any time with just the touch of a button. And that leaves your mind clear to remember the better things in tife. MEMORABLE SPECIALS ON OUR NEW PRODUCTS PC-IL. Fantastic speed — incredible price More than 3 times faster than IBM PC. One megabyte of RAM *MS DOS INTRO SPECIALS trom $1698 COPAM - 504 The affordable AT 6/8/10 Mhz °1.2 MB Drive * INTRO SPECIALS MS DOS trom $2860 Visit one of the first and largest computer stores on the North Shore. Selec- ting computer equipment is easy and aff-rdable at Strachan Computers, Ask about our one year warranties, supported by in-store technicians. 1334 Main Street 984-8500 _ North Vancouver aR Mon.-Sat. 10:00-6:00 that it's closing the local branch. But Lorne Nadiger, bank man- ager for West Vancouver area, said he sent a letter to all West Van- couver customers advising them of the change. BUSINESS DECISION “It’s not going to be as conve- nient for the business people of Horseshoe Bay,”’ he said. **But an operation must pay for its upkeep for it to be viable. The closure of 25 - Sunday, October 12, 1986 - North Shore News this branch is a business decision.’ Nadiger said a new teller machine at Horseshoe Bay will be able to handle 85 per cent of con- sumer needs. However, he said, Horseshoe Bay businesses will now have to travel to Dundarave, Ambleside or Park Royal Commerce branches for their banking needs. David Weiser, member of the Horseshoe Bay Business and Pro- fessional Association, said the association's 34 members have iano c= A weno WORKSHOP AT CAP Come with your friends, take a class and have tunch {cost ineluded in fee). _ Choose a. 1 Workshop for October 18 or October 18/19 Challenge Yourself, Saturday/Sunday Women in Sales, Saturday Uses of Micro-Computer (Apple), Saturday (9am-1pm, no funch} Time Management, Saturday De Bono" s Thinking Course: Developing and Evaluating ideas, Saturday Cheese a Workshop for Saturday, October 25 Writing Proposals & Grant Applications (November 20 also). “Writing Science Fiction Dealing. with Difficult People. Nutrition for Vegetarians. : Piano Playing by Ear ~ De Borio’ § Thinking Course: Organization: Developing a” focus to the: problem: solving process ° : Full details are in the Extension Programs Brochure. Phone Capilano College Extension Programs (964-4901) © tor registration, information or for brochure to be mailed - : ‘to you. We take VISA and MasterCard, “Capilano College, 2055 Purcell Way, North Vancouver (ue the hili from the Coach House Inn) Ww. 985 244" decided to try and approach another financial institution to locate in Horseshoe Bay. He said if a new bank opened in Horseshoe Bay he estimates 80 per cent of the businesses would withdraw their accounts from the Commerce. Dick Beard, who operates a den- tal clinic at Horseshoe Bay, said a letter protesting the closure will be sent to the Bank of Commerce. TIMING QUESTIONED “We all think it’s very odd to move out at this time; a new shop- ping centre has just opened. They implied they were moving the bank out for our convenience, which is ridiculous.’” Beard said, although he’s bank- ed with the Commerce for 11 years, he plans to change banks. Donald Wilson, co-owner of Troller Pub, said the closure means his business will have to keep more money on the premises. “We don’t like the idea of trav- elling down to Park Royal or Dundarave every time we need change or want to make a depos- it,’? he said. “It’s going to be a pain ‘n the butt.” Commerce vice-president Jack Wilson said the decision to close the Horseshoe Bay branch was made locally. He said he believes the Horseshoe Bay branch has been in existence for 15 years. Arrange qualified pension income without last-min ute hassle From page 24 1987, now is the time to arrange your qualified pension income without the last-minute hassle. An ordinary annuity purchased now can produce $1,000 a year tax- free starting in January. Some of the leading companies are now offering ‘‘interest only’’ annuities. These are somewhat like term deposits and your canital re- mains intact. The fact that a life insurance company pays the in- come as an annuity contract, makes ‘t eligible for the pension income deduction. A Note of Caution: Before you proceed you should review your situation with a qualified advisor. Don't be discouraged, it is not as complicated as it first appears and the money you may save in taxes will be well worth your time and trouble. vee Bert Wickham is one of B.C.'s foremost authorities on financial plansing for retirement. This series of articles is designed to help you make the most of your income in retirement and keep your taxes to the legal minimum. However, as they are of a peneral nature, readers are advised (fo check carefuliy before applying them to their persona! situation.