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Tightwad Bank Closing After 22 Years

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Tightwad Bank Closing After 22 Years

Business

Tightwad Bank Closing After 22 Years

Tightwad Bank Closing After 22 Years

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For those of you who are thrifty with your money, the chance to have that emblazoned across your checks is about to pass. The Tightwad Bank in Tightwad, Mo., is about to close after 22 years of business.

RENEE MONTAGNE, host:

Our last word in business, the Tightwad Bank is about to close. That's the little bank which got big publicity when it opened 22 years ago in the town of Tightwad, Missouri - population 63. The Kansas City Star introduced the world to Tightwad's bank with a story in 1984, which was picked up by the Associated Press.

Mr. JEAN HENRY(ph) (Banker, Tightwad Bank): Those items spurred a lot of people to decide they wanted a checking account at the Tightwad Bank. So as a result, we received checks in the mail saying please open the account. And usually, there was a little letter came with it. We kept a scrapbook for a long time.

MONTAGNE: Former Tightwad banker Jean Henry says mail poured in from nearly all 50 states. Those who drove in received a coffee mug or a piggy bank. Deposits at the Tightwad Bank, for a time, reached over $2 million. But the town has grown by only eight people in the last two decades, and now Tightwad Bank's parent company will shut it down in January.

You're listening to MORNING EDITION from NPR News. I'm Renee Montagne.

STEVE INSKEEP, host:

And I'm Steve Inskeep.

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