THE MILL WHISTLE
Eden, N. C., February 15, 1971
No. 16
fi'edit Union Loaned
»4-Million Since '58
Fieldcrest Mills Credit Union has
$14,307,884 in 73,474 separate
Since the Credit Union was es-
,j}^shed in 1958.
Union has grown to a
j^mbership of 8,765, representing 77
of those employees in all lo-
eligible to join. In the Eden
Jj ?’ ^ whopping 93 percent of all
Up employees are members of
j Credit Union.
"'eet operating statistics last
iju 5’ the Credit Union announced that
1970 a total of $2,203,020 was
in 10,876 separate loans.
327
checks per working day, in
an average of
*9h pci wui
amounting to
''’htt each working day. Checks
during the year for loans and
55t;„d’^awal of members’ savings totaled
$3y '-c assets totaling approximately
t82n'*®^ttton, the Credit Union during
Hjk. P®id dividends totaling $135,381,
'9g a total of $007,122 paid to mem-
(Continued on Page Four)
^sguire Fetes Group
7 35th Anniversary
Vof?d P- Maguire & Co., Inc., in New
Otgj? a factoring subsidiary of Field-
^tlls, Inc., observed its 35th an-
^sary Friday, February 5.
tiofj ® ^laguire company began opera-
''’ho .^a'^ruary 5, 1936, and employees
5ty ^a^ued the organization in Febru-
p^bat year were guests at a lunch-
the Manhattan Club.
^ Maguire, a retired director of
Mills, Inc., who was founder
*Hg in Maguire company, was vacation-
Jamaica and sent his regrets at
dnable to attend the luncheon.
*tiOse --- ’■ -
^alface,‘
attending were Eleanor Bul-
Harry Peck, Irma Hoff-
.. 7
Ji ®dd Tom Lea, who joined Maguire
I'Uary, 1930; Helen Lynch, Henry
George Davis, Herbert Eiden-
Sb’ 'n^i'^ard Herche, Joseph Partridge,
"Jillg^Pccho, Albert Inra and Stanley
i^'ho joined later in 1936. Thelma
\ 7®'^Ployed during 1936, were un-
attend.
and Robert Moran, who also
IN NEW DEPARTMENT — Paula Carter is shown at the central debit memo file
in the recently-established Accounts Receivable Department located in the former
AMP building on West Stadium Drive in Eden. More pictures on page three.
Eden Payrolls, Taxes Total $31-Million
Fieldcrest Mills’ operations added
over $31-million to the economy of Eden
in 1970. Company records show that a
total of $31,137,000 was disbursed for
payrolls and taxes alone in Eden and
Rockingham County.
The major contribution to the pros
perity of Eden was the company’s pay
rolls of $29,030,000 paid to the 4,780
employees in the area.
Fieldcrest in 1970 also paid $1,403,000
in Social Security taxes and for un
employment insurance for its Eden
employees.
By law, the Company pays half and
the employee half of the taxes to fi
nance Social Security benefits for em
ployees; but the Company pays 100%
of the taxes to provide state-adminis
tered compensation for eligible em
ployees when out of work.
Property taxes paid to the City of
Eden totaled $307,000. The company’s
Rockingham County taxes amounted to
$397,000; and the total property taxes
paid in Rockingham County, including
both city and county taxes, amounted
to $704,000.
In addition to the more than $31-mil-
lion pumped into the economy by direct
payments, large sums were distributed
in the form of fringe benefits for the
4,780 active employees and their de
pendents and for pensions to the com
pany’s retired employees, a majority of
whom live in the Eden area.
The foregoing figures do not include
capital expenditures for land, buildings,
machinery or equipment. Money spent
for purchases of goods and services
from local firms and expenditures for
raw materials also are excluded.
The figures apply only to Eden and
Rockingham County and do not include
any money paid out at other manufac
turing locations or sales divisions.
Off-The-Job Accidents Killed Five During 1970
Off-the-job accidents—ear wrecks and
other mishaps—claimed the lives of five
Fieldcrest employees in 1970.
Two died in automobile accidents, two
in gun mishaps and one by drowning.
“These statistics are grim but per
suasive reminders that everyone should
drive safely and defensively and never
gamble with safety in any way,” said
Kenneth R. Baggett, Fieldcrest safety
director. “If you lose your gamble, your
life could depend on it.”