North Carolina Newspapers is powered by Chronam.
Eden, N. C., February 3, 1969
Credit Union Assets Nearing $3 Million
CREDIT UNION HEADQUARTERS — Clerical personnel of the Fieldcrest
s Credit Union at headquarters in General Offices building, Eden, left to right,
Ur Stokes, Nancy Hyler and Peggy Woodlieff. Other Credit Union
•'^es serve members in the sales divisions and at outlying plant locations.
Scholarship Applications Start Feb. 10
Fieldcrest Scholarship Committee
, the Muscogee Scholarship Commit-
February 10 will begin accepting ap-
^cations for scholarships to be given
Assist employees or children of em-
^^‘oyees of Fieldcrest Mills, Inc., in ob-
^hing a college education.
application form may be obtained
°hi tjjg gj.gg personnel managers, the
Personnel offices, or by calling at
® Employment Office of Fieldcrest
Inc., in the General Offices build-
lia" Eden; or by writing to Dr. Wil-
hi McGehee, director of personnel re-
]u?hch and develonment, Fieldcrest
hb, Inc., Eden, N. C., 27288.
^^Ihdividuals who wish to be consider-
j the scholarship must submit an
jg^Mhation in writing prior to April 1,
A to the Scholarship Committee.
. hrds of the scholarships will be an-
“hhced by June 1, 1969.
g ^oth the Fieldcrest and Muscogee
hholarships are now worth $2,800 each
over a period of four years at the rate
of $700 for each of the four years of
The scholarships are awarded to high
school graduates who are entering col
lege for the first time. To be eligible
for consideration for a scholarship, the
recipient must plan to enroll in an
academic four-year college or univer
sity in a course of studies for a recog
nized undergraduate academic degree.
An employee must have been in the
employment of Fieldcrest Mills, Inc., for
at least one year to be considered for
a scholarship. The chiidren of an em
ployee of Fieldcrest Mills, Inc., are eli
gible for consideration for a scholar
ship award if the employee has been
with the Company for one year or more.
The scholarships were first awarded
by the Fieldcrest Foundation in the
fall of 1960. To date, a total of 36 Field
crest Scholarships and 10 Muscogee
Scholarships have been granted.
Assets of the Fieldcrest Mills Credit
Union were $2,724,252 at the close of
1968, having increased from $2,194,659
a year earlier. At the end of 1969, the
Credit Union had 8,104 members, having
added approximately 500 new members
during the year.
Dividends on savings in 1968 totaled
$93,452, compared with $66,866 in 1967.
The dividend rate was increased to five
percent January 1, 1968 and the interest
rate on loans early in the year was re
duced from one percent a month to
nine-tenths of one percent a month on
the unpaid balance.
The Credit Union has paid a dividend
of not less than four percent per annum
each six months since it was organized.
The rate was increased from four to
four and one-fourth percent effective
January 1, 1965. It was raised to four
and one-half percent later and then was
upped to five percent.
The above are highlights of the fi
nancial statement presented at the an
nual meeting of the Credit Union at
Central YMCA January 24. The state
ment is printed on page five of this is
sue of The Mill Whistle.
L. E. Chewning, vice president of the
Credit Union, presided in the absence of
the president, H. H. Newton, who was
out of town. Mr. Chewning discussed the
annual statement and presented some of
the operating statistics.
The following, were elected to the
board of directors of the Credit Union:
T. W. Graves, R. A. Harris, T. H. Knott,
H. H. Newton and R. L. Wilkes. Elected
to the Credit Committee were: R. D.
Cherry, Raven Ellis and T. R. Ray.
(Continued on Page Five)
Have You Joined?
The Credit Union is a convenient
place where employees may save
or borrow. Savings and loan re
payments are handled convenient
ly through payroll deductions.
You can join by paying a 25c
fee and signing a card authorizing
the Company to deduct a specified
amount of savings from your pay-
If you are not a member, see
the Credit Union representative at
your location and sign up for easy,