Meeting the Loan officer

 Back in 1976 I was 18 years old and wanted to buy a piece of land. I went to the bank where I had a savings and a checking account. My parents had their accounts in the same bank. I told a teller I was looking to borrow money for a land purchase. She notified a loan officer (son of one of the owners of the small town bank). He took me into his office had me sit down in the chair across from his desk and patiently explained to me that a young man such as I, had no assets and would not be a good risk for a bank to loan money. He said “I am sure you can understand that.) I said “sure”.

I don't understand his attitude. Doesn't this guy look like a good loan risk??

The piece of land I was wanting to purchase was priced at $64,000. I had worked in high school and made some investments which had allowed my savings account to grow to $20,000 (wish I was smart enough to make that kind of money today). The bank officer had not asked if I had any assets. Had not asked if I had any cash; he just assumed I was some kid with nothing. I do wonder if I was wearing those red pants with the blue jean bottoms. Now those were "cool" and should have been an asset for the bank to use as collateral. 

I walked out of his office and went back to the teller line and withdrew the $20,000 in savings, emptied my checking account, closed both accounts and walked out the door.

Maybe had I worn my leisure suit, I would have been given the loan with no questions asked, not that any questions were asked as I was ushered out of the man's office.

Two days later the bank officer’s father, major share holder of the bank, showed up on our yard and wanted to talk to my dad. Why did your son pull his money out of our bank and close his account? Wouldn’t actually want to ask me, just have dad straighten that boy out and get the money back in his bank.

Of course why would any bank executive think this guy was managing his money. It really had to be dad's money in my name, right?

 Dad told me to tell the man why I had closed my accounts. I said, “I asked for a loan to buy real estate; your son explained to me that I had no assets. That being the case I do not know what you are talking about because if I have no assets I could not have had a savings account to empty.

A couple of days later dad pulled all his accounts as well. You didn’t mess with his kids. That is dad cleaning the windshield on my car before Sharon and I left the church after our wedding 10 years later. Hey look at the hat and leather jacket on me. 10 years later I had cleaned up a lot!