Newspapers / The Fieldcrest Mill Whistle … / Jan. 10, 1977, edition 1 / Page 1
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Igl'.WJJl. THE MILL WHISTLE Vol. 35 Eden, N. C., January 10,1977 No. 12 Credit Union Members Cet $232,875 Dividend has paid another 7 percent num dividend to its members. The Pieldcrest Mills Credit Thi six dividend, covering the last Months of 1976, totaled Accounts Insured an extra benefit for ^6dit Union members, share account is now fjsured for up to $50,000 by North Carolina Savings 'guaranty Corporation. The additional protection Credit Union savings, hich became effective 3nuary i, 1977, is provided ‘ no extra cost to the •Members. The insurance is similar , ^hat carried by banks nd savings and loan as- p^'^iations. The $50,000 cov- Jage which the Credit nion now has is higher, ^owever, than the $40,000 in- ^ance carried by com- ”^cial institutions, j The North Carolina Sav- (. 8s Guaranty Corpora- ®n, which carries the in- ^ance for the Credit Union, ^ authorized by the Gen- Assembly and was jj|*artered by the State of k®Tth Carolina in Decem- 1967. Its members have jnbined savings of over ^million. $232,875, the largest in the history of the Credit Union. The latest payment makes a total of $2,374,428 distributed in dividends since the Credit Union was established in 1958. The dividends were credited to the members’ share accounts as of December 31,1976. The 7 percent annual dividend rate, one of the highest of any savings institutions, has been in effect since July 1, 1974. The change to the 7 percent rate was the sixth increase in dividend rates since the start of the Credit Union. In addition to paying the high , interest rate on savings, the Credit Union since January 1, 1976 has maintained a low 9.6 percent annual interest charge on loans. This rate, one of the lowest obtainable anywhere, makes the Credit Union the best place for members to borrow when they need money. “There is no question that the high dividend rate and the low interest charge tor loans makes the Credit Union the best place for both saving and borrowing for F’ieldcrest employees,” said L. E. Chewning, president of the Credit Union. "We have money available to make loans to members and we are in the business of lending (Continued on Page Eight) '^Oseph B. Ely II Elected ^■rector Of Pieldcrest B. Ely- II, executive II “ TiPani i. ] i. thp President and treasurer of bep^*’^oskeag Company, has difp" elected to the board of lup Ttors of Fieldcrest Mills, fills the vacancy on the Oi-ak^ ^®ft at the death of John S. last October. Vvir ^.'^nouncement was made C. Battle, president executive officer of Merest. is a trustee of Du- 3 director of Shawmut T,'Jj/opment Company and A. talker sei Td and chief executive to ,P”ient Company Estate Corporation, the k ° serves as chairman of Cof^T of Westville Homes ^M^Tation and is president director of Moore’s Falls Ina p ation and Duxbury Ma- jj^'-orporation. graduated from Boston “iVr ®rsity and was a registered JOSEPH B. ELY II representative at F.S. Moseley from January 15, 1966, until October 23, 1970. Mr. Ely lives in Wayland, Mass., with his wife, Bonnie, and their four children. W „ "w . i Campaign Against Hand Injuries Set Opal Knott, Bedspread Cloth Room, points to paign will continue during the entire month of one of the posters being used in the Bedspread January. See story and pictures on page three. Mill’s campaign against hand injuries. The cam- Karastan's New 'Ethnique' Area Rug Created By World Famous Designer Gustav Zumsteg, who has a well-earned reputation in the world of fashion as the “designers’ designer,” has designed a new area rug called “Ethnique” for Karastan. For many years his famous studio in Zurich has been one of the important wellsprings of design for the fabrics used by the great couture designers in their finest collections. Yves St. Laurent, Dior, Balenciaga, Givenchy, Geoffrey Beene make up just a partial list of the top couturiers who have looked to Zumsteg for new design ideas in their fabrics. No longer restricted to apparel fashions, Zumsteg has now become a source for major design innovations in decorative fabrics for home. Most recently he created the exciting new “Romance, Intehnation Style” collection of bed and bath fashions for Fieldcrest. reliance on the historic past in fabric design. Zumsteg con stantly “mines” the wealth of the decorative arts from his own “museum” which he has established in his Zurich studio. Over the years Zumsteg has developed archives of more than 11,000 different swatches (Continued on Page Seven) L J. Fiacco Promoted A fascinating aspect of this man responsible for the fashions of tomorrow in his heavy L.J. Fiacco has been named district manager of the Karastan sales office in Chicago, as announced by W.T. Barton, vice-president for sales in the Karastan Marketing Division. Mr. Fiacco will be responsible for supervision of all Chicago area accounts for Karastan. With the company since 1935, Mr. Fiacco has been the sales representative for the Chicago territory. He reports to John Eggleston, vice-president of sales for the Eastern region. Mr. Barton announced that the selling responsibilities for Chicago accounts have been assigned to Thomas Caruso and Andrew J. Calhoun. With the company since 1970, Caruso has been contract Mr. sales specialist for Karastan covering the Philadelphia- Baltimore-Washington, D.C. territory. Mr. Calhoun, who joined Karastan in February after five years with Milliken Carpets, has been the contract sales specialist for the Chicago territory. It was also announced that, effective immediately, James B. Hopkins will succeed Mr. Calhoun as contract sates specialist in Chicago.With Karastan since 1970, Mr. Hopkins has been a sales service representative out of the Chicago office. Taking over Mr. Caruso’s (Continued on Page Eight)
The Fieldcrest Mill Whistle (Spray, N.C.)
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Jan. 10, 1977, edition 1
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