EDITOR'S NOTE

The business of money

"Money makes the world go round," Joel Grey sang in "Cabaret." The musical was set in pre-World War II Germany, but the sentiment is just as true today.

In this issue of Ventures, we take a look at some of the people and institutions that are in the business of money -- the banks, the credit unions, the financial advisers and the tax experts.

The banks seem to be everywhere these days, with branches constantly being opened. Nationally, the number of institutions has dropped, but the number of branches has gone from 69,923 to 92,514 in the past 10 years.

In New Hampshire, there are 59 state chartered financial institutions. They have more than 217 branch locations. (See story.)

Of the 59 institutions, 21 are credit unions and two of the largest in the state -- Northeast Credit Union and Service Credit Union -- are based on the Seacoast.

Northeast, which celebrated its 70th year in business in 2006, was founded by 10 Portsmouth Naval Shipyard workers. Service, which was formed in 1957, not long after Pease Air Force Base opened, now has branches in New Hampshire, Massachusetts and at military bases in Germany.

Both of them are striving to keep up with our changing world and keep up with competition. Service, for instance, is opening branches in Wal-Marts. Northeast has added branches in Lee and Northwood. Both are keeping up with technology and online services. (See story.)

Speaking of online, an estimated 63 million people in this country now use Internet banking services, up from 10 million in 1998, and Seacoast banks are keeping up with the demand.

At Ocean National Bank, for instance, businesses can get a CD-ROM of their financial statements. And this year the bank plans more "remote capture," where a scanning machine is used to process checks into respective accounts. Mascoma Savings Bank also offers remote capture.

Most also offers access to checking and savings accounts, transfers and bill paying services. (See story.)

Our "Entrepreneur Watch" this month talks with Traci Bisson, owner and founder of Bisson Barcelona of Barrington, a literary-focused public relations firm. (See story.)

Danny O'Brien, president and CEO of Ocean National Bank, is "At the Helm" and shares his thoughts on the role of community banks, among other things. (See story.)

One thing that community bankers cite is the importance of philanthropy as part of their mission. They say the good corporate neighbor role strengthens their market and their livelihood.

Thanks to the banks, numerous causes such as homeless shelters, Habitat for Humanity, museums, the arts and economic development gain much needed funds.

In Portsmouth, for instance, the Children's Museum and the North Church steeple restoration fund have been on the receiving end of bank contributions. (See story.)

In a story on investing, we take a look at the growth of socially responsible investing, or SRIs, which screen companies for such things as tobacco, guns or gun parts manufacturing, gambling, nuclear energy companies and utilities, and oil companies. They also look at corporate business practices, numbers of women or minorities, and environmental, human rights and labor records.

According to the online investment research site Morningstar.com, the number of SRI mutual funds has grown from 25 to 60 in the past 10 years. (See story.)

And, in "The Last Word," Gary Terhune, owner of Seacoast Financial Navigation, talks about how he allows his faith to guide the investments he makes. He is a member of the National Association of Christian Financial Consultants.

In some ways similar to an SRI, his screening standards are different. He, for instance, would not invest in anything that has to do with pornography, gambling, alcohol, tobacco, abortion, anti-family entertainment or non-marriage lifestyles. (See story.)

Money may make the world go round, but it does so in many and varied manners.

Reach CAL KILLEEN via e-mail or 610-1193.