Independent Banker - February 2023 - 18

HISTORY LESSON
The blizzard that
boosted ATM use
Why should you trust a machine
when you could just wait in line to
talk with a teller? In the late 1970s,
many people had that mindset.
Banks encountered resistance to
the idea of a machine conducting
financial transactions, even if it was
fast, accurate and open outside of
regular business hours.
But one thing changed people's
tune almost overnight: snow. A
lot of it. In the winter of 1978, two
massive snowstorms hit New York
City and buried residents under
nearly 20 inches of snow. Banks
were closed for days, but ATMs
that had recently been installed in
all five boroughs gave New Yorkers
an easy way to get cash in a
crisis. During the blizzard and its
aftermath, customer use of ATMs
increased 20%. The rest of the
country soon followed New York's
lead and began to use ATMs with
increasing frequency.
-Julie Kendrick
Photo: Syda Productions/Adobe Stock

Independent Banker - February 2023

Table of Contents for the Digital Edition of Independent Banker - February 2023

Table of Contents
Independent Banker - February 2023 - Cover1
Independent Banker - February 2023 - Cover2
Independent Banker - February 2023 - Table of Contents
Independent Banker - February 2023 - 2
Independent Banker - February 2023 - 3
Independent Banker - February 2023 - 4
Independent Banker - February 2023 - 5
Independent Banker - February 2023 - 6
Independent Banker - February 2023 - 7
Independent Banker - February 2023 - 8
Independent Banker - February 2023 - 9
Independent Banker - February 2023 - 10
Independent Banker - February 2023 - 11
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Independent Banker - February 2023 - 19
Independent Banker - February 2023 - 20
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Independent Banker - February 2023 - 67
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Independent Banker - February 2023 - Cover3
Independent Banker - February 2023 - Cover4
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