Details concerning the formation of the Savings Banks Institute (SBI) were reported by the BMB's General Manager to the Bank's Committee of Management in July and October 1945. The SBI was formed in 1948.
Report by General Manager : July 1945
For some years the Joint
Committee consisting of Representatives of Trustee Savings Banks and this Bank have been working on a scheme for establishing a Savings
Banks Institute. The Municipal Bank, and some Trustee Savings Banks have recognised the Institute of Bankers as the professional standard
for their staffs, but the syllabus includes subjects of no value to Savings Bank students. Staffs of English Savings Banks have been
lukewarm towards studying under the Institute of Bankers and the attitude of the Institute in declining to allow Scottish staffs to
sit for examinations is a source of dissatisfaction.
The scheme for the formation of a Savings Banks Institute has been prepared, and
the Trustee Savings Banks at their Annual General Meeting in June last gave approval to the scheme, the main features of which are
as follows:
1 Membership to consist of Fellows and Associates, and of Honorary Fellows and Members
2 Examinations to be arranged in
two parts; on passing Part I a certificate would be given; on passing Part II the candidate would become an Association and entitled
to use the letters ASBI after his name. Election to Fellowship would be by the Council of the Institute, on the following conditions:
The Associate must be 30 years of age, and have had 10 years' experience as a Savings Bank officer, and must satisfy the examining
Board that he is a fit and proper person to become a Fellow.
3 The examination fee to be 10/6d
4 Subjects:
Part I (a) English
Language and English Literature
(b) Book-keeping and Accounts
(c) Savings Bank Law and Practice and History
(d) General Business
Knowledge
Part II (a) Accountancy, including some knowledge of Auditing, Income Tax and Executorship Law
(b) Economics
(c) Savings Bank Law and Practice and History (Advanced
Stage)
(d) Citizenship and Social Services
5 The Management of the
Institute would be vested in a Council numbering 17 persons. The first Council will consist of 5 members appointed by the Association;
2 by the Municipal Bank; 2 from each of the Scottish, North-East, North-West, and Southern areas of the Association; and 1 from the
Northern Ireland area and 1 from the Municipal Bank. Subsequently, the Council would be made up of 5 nominated by the Association;
2 nominated by the Municipal Bank; 10 elected by Fellows and Associates from the areas mentioned and from the Municipal Bank in the
proportions mentioned.
The question of Foundation Expenses has not been finally decided. The Association has taken Counsel's opinion,
which is to the effect that under the present constitution the Association has no power to make a grant, but by amending the constitution
such provision could be made. The Association and the Government Inspection Committee are considering the matter, and it is probable
sanction will be given to the larger Trustee Savings Banks making a grant. The Birmingham Municipal Bank representatives intimated
that the Municipal Bank would join with the larger Trustee Savings Banks in this respect.
Many years ago Sir Thomas Jaffrey (a former
Actuary of the Aberdeen Savings Bank) set aside a sum of money to be devoted to an educational scheme for Savings Bank staffs, and
examinations have been held yearly under that scheme and monetary grants made to successful students. Sir Thomas was consulted on
the scheme for establishing an Institute and gave the proposal his approval. Sir Thomas Jaffray's prize scheme will be included in
the Institute, and prizes will be granted to successful Trustee Savings Banks candidates as follows:
Part I - 1st Prize £12 2nd Prize £6 3rd Prize £3
Part II - 1st Prize £20 2nd Prize £10 3rd Prize £5
The Municipal Bank will make their own arrangements
for their staffs, and it is suggested that the present practice of making grants to those who pass the examinations of the Institute
of Bankers should apply equally to the new Savings Banks Institute, viz £10 on passing Part I and £15 on passing Part II.
It will not
be possible to bring the scheme into full effect for examinations in the Spring of 1946, and therefore such examinations in the Spring
of 1946, and therefore such examinations will be confined to Part I. Many officers serving with the Forces would not be able to enter
for the examinations in 1946, but there are others serving as temporary officers with a view to permanent appointments whom the Managements
of the respective Banks would like to test by examination. The scheme will be brought to the notice of officers serving with the Forces,
and in respect of whom the Council may deem it necessary to grant some concession because of interruption of studies.
The Bank Committee
is now asked to give their approval to the scheme for setting up a Savings Banks Institute, and participation in same with Trustee
Savings Banks on the lines laid down.
Report by General Manager : October 15th 1945
The syllabus for Part I examinations has been
fixed, and examiners appointed. In respect of Municipal Bank candidates, the study and examination test for Savings Bank Law and Practice
will differ from the arrangement made for Trustee Savings Bank candidates, and after conferring with the Acting Principal of the Commercial
College, it has been arranged that Mr J W Raftery (one of the Bank's Inspectors) will take the class in this subject. Mr Minshull
(Deputy Town Clerk) has been invited to act as Examiner and to advise as to the course of study, and has consented. It is recommended
that a fee of £2. 2. 0d should be paid to Mr Minshull as Examiner and £5. 5. 0d for his service in deciding upon the syllabus, course
of study, etc. These rates are the same as paid by the Institute of Housing for whom Mr Minshull also acts as examiner.