Six hundred people who attended an Ulster Savings rally were told they were not sufficiently thrifty in 1959.
Speaker Philip Smiles, a former chairman of Belfast Savings Bank and Belfast Savings Council, said he was surprised that Larne had not saved £1 million.
However, he reported savings locally of £900,000, an increase of £200,000 since the last financial year and the largest savings figure ever to be achieved in the town.
He said that Larne should “go all out” to reach a £1 million target which had been achieved by five other towns in Northern Ireland, including Ballymena, which had reached £1.5 million.
He suggested this sum could be reached if more street savings groups were formed.