Summary of "Paul Harvey - Twiglet Bank"

Podcast: Harold's Old Time Radio
Episode Title: Paul Harvey - Twiglet Bank
Release Date: March 19, 2025

Introduction

In this captivating episode of Harold's Old Time Radio, host Harold's Old Time Radio brings listeners back to the Golden Age of Radio with a delightful story narrated by the legendary Paul Harvey. Titled "Twiglet Bank," this episode weaves a tale of community spirit, ingenuity, and the whimsical creation of a bank designed exclusively for children.

The Setting: Southwest 45th Street, South Miami, Florida

Paul Harvey sets the stage on a warm day in South Miami, Florida, focusing on a typically quiet neighborhood at 5757 Southwest 45th Street. Residents had long observed the peculiar addition of railroad tracks in an area that saw no regular rail traffic, sparking curiosity and speculation among the community.

Paul Harvey [00:15]: "Now the rest of the story what an extraordinary day that was for the folks on Southwest 45th street in South Miami, Florida."

Arrival of the Vintage Caboose

The mystery unraveled on September 5, 1986, when a 50,000-pound vintage 1969 Seaboard System Railroad caboose was delivered and placed on the newly laid tracks. This authentic caboose, rarely seen outside active rail lines, became the centerpiece of an ambitious community project.

Paul Harvey [02:30]: "A real caboose just sitting there on Southwest 45th Street. Its intended use. That is the rest of the story."

The Birth of Twiglet Bank

Amidst growing interest, local residents approached the First National Bank of South Miami with a unique proposition: to establish a new bank catering exclusively to low and fixed-income depositors. The vision was a financial institution where individuals, particularly those with limited means, wouldn't feel embarrassed about maintaining small account balances.

Paul Harvey [04:45]: "An institution in which one need not feel ashamed to have an account of no more than several dollars."

Thus, Twiglet Bank was conceived—a subsidiary so modest it might be considered "too small to call a branch or for that matter, even a twig." The whimsical name reflected the bank's playful yet earnest mission to serve the community's youngest members.

Overcoming Obstacles and Financing the Project

Transforming the vintage caboose into a functional bank presented significant challenges. The remodeling required careful planning and funding. On September 14th of the following year, Nikki Russell, the chairwoman of Twiglet's board, and Richard Bell, the president and CEO, approached First National Bank for a $2,500 loan to cover part of the $5,000 renovation costs.

Paul Harvey [09:20]: "President Bell was so convincing that first national sprang for another 2,500, covering the Twiglet renovation costs completely."

Bell's persuasive efforts secured the necessary funding without additional financial strain on Twiglet Bank, showcasing the community's support and trust in the venture.

Operations and Structure of Twiglet Bank

With the renovation complete, Twiglet Bank began operations seamlessly. Structured similarly to traditional banks, it offered checking and savings accounts, adhered to state regulations, and provided services such as loans and interest payments. Security measures included surveillance cameras and a team of four security guards, ensuring a safe environment for young customers.

Paul Harvey [12:00]: "Operations are proceeding as smoothly as possible. As it gets into the banking business, it's just a bank like any other with checking and savings accounts, regulations and requirements licensed by the state."

The bank employed a range of staff, from tellers to an auditor and an operations supervisor, all working under a competent board of directors. This professional setup ensured that Twiglet Bank maintained high standards of service and reliability.

The Unique Customer Base: Serving Children

The most enchanting aspect of Twiglet Bank was its clientele: children. The bank's services were exclusively designed for grammar school youngsters, fostering financial literacy and responsibility from a young age. Notably, no staff member, from tellers to the president, was older than elementary school age, creating a relatable and supportive environment for its young customers.

Paul Harvey [16:45]: "The bank in the Caboose on Southwest 45th is for grammar school youngsters only, and not one person who works there, from the tiniest teller to the president himself, may be beyond the age of elementary school."

This innovative approach not only provided a safe space for children to learn about banking but also built a sense of community and belonging among its young patrons.

Conclusion: A Charming Community Endeavor

"Twiglet Bank" stands as a heartwarming example of community initiative and creative problem-solving. By transforming a vintage railroad caboose into a bank for children, the residents of South Miami fostered financial education and inclusivity in a charming and memorable way. Paul Harvey's narration captures the essence of this unique venture, highlighting the importance of supporting all members of the community, no matter their age.

Paul Harvey [18:30]: "Now you know the rest of the story."

Notable Quotes

• Paul Harvey [00:15]: "Now the rest of the story what an extraordinary day that was for the folks on Southwest 45th street in South Miami, Florida."
• Paul Harvey [02:30]: "A real caboose just sitting there on Southwest 45th Street. Its intended use. That is the rest of the story."
• Paul Harvey [04:45]: "An institution in which one need not feel ashamed to have an account of no more than several dollars."
• Paul Harvey [09:20]: "President Bell was so convincing that first national sprang for another 2,500, covering the Twiglet renovation costs completely."
• Paul Harvey [12:00]: "Operations are proceeding as smoothly as possible. As it gets into the banking business, it's just a bank like any other with checking and savings accounts, regulations and requirements licensed by the state."
• Paul Harvey [16:45]: "The bank in the Caboose on Southwest 45th is for grammar school youngsters only, and not one person who works there, from the tiniest teller to the president himself, may be beyond the age of elementary school."
• Paul Harvey [18:30]: "Now you know the rest of the story."

Final Thoughts

For listeners who haven't tuned into this episode, "Twiglet Bank" offers a nostalgic glimpse into a unique chapter of community-driven innovation. Through Paul Harvey's rich storytelling, the episode underscores the value of inclusivity and education, all wrapped in the nostalgic charm of old-time radio.