In 1975, Taranaki Savings Bank was the first bank to offer free, interest-bearing cheque accounts and in 1981 the bank pioneered New Zealand's ATM Cashflow network with one ATM installed in each of the Hawera, Fitzroy, New Plymouth City and New Plymouth City Centre (now TSB Centre) branches. With the loosening of regulations on banking in the 1970s, the Bank's position was sufficiently sound for it to take maximum advantage of its new found freedom. In 1964 the first central Taranaki branch opened in Stratford, combined with a name change to Taranaki Savings Bank. In 1921 a second branch was opened in Fitzroy, and a third in Waitara in 1946. Eight years later the bank fell under the auspices of the Savings Bank Act 1858 designed to regulate the savings bank market. At the time the bank's accountant was paid an annual salary of £20, so the deposit was a considerable sum. The New Plymouth Savings Bank was established in 1850 and received its first deposit on 28 September 1850 from Waitera te Karei with a deposit of £34. TSB also operates TSB Foreign Exchange from 14 branches around the country. In addition to banking TSB Bank Ltd operates TSB Realty, with three branches in Ōkato, Bell Block and New Plymouth. The bank is owned by the Toi Foundation (formerly the TSB Community Trust) which distributes the income its receives from the bank back into the New Zealand community. It was originally one of twelve trustee banks in New Zealand, but when nine banks decided to amalgamate as Trust Bank, TSB Bank stood aside and remained an independent institution and has since expanded its business across the country. It provides retail banking and related financial services to individuals and companies. It has 25 branches across the country but is heavily focused on the Taranaki region where 12 of its branches are located. TSB Bank Ltd (originally known as the Taranaki Savings Bank) trading as TSB, is a New Zealand bank with headquarters in New Plymouth.
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