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Cirediit union offers loans to famSDies ma
The Daily Tar HeelMonday, March 14, 19887
By MYRNA MILLER
businesses along with low income
families needing housing are the
Worker-owned, minority and rural primary targets for loans from the
Smooth sailing: soak up
summer sun on a cruise
Bahamas, while they need only $620
for a five-night cruise to Mexico. An
added bonus is that the dollar goes a
long way in Mexico.
Three- and four-day cruises are
still popular with students, said
Paula Florence of Small World
Travel on East Franklin Street. Car
nival Cruise Line offers some short
cruises departing from southern
Florida. Cruises leaving from Miami
and Fort Lauderdale often include
free air or train fare from certain
Because popular cruises fill up
fast, booking trips far in advance
can ensure getting a reservation as
well as a good deal on the cruise
Taking a cruise in May, which is
the beginning of the off-season for
cruises, is another way to get a good
deal, Florence said. A popular time
for students to take cruises is after
graduation, when they can benefit
from off-season rates.
Many people may worry about
becoming seasick on a cruise. How
ever, a wide variety of remedies are
now available that have rendered
this problem virtually nonexistent.
Making reservations for a cruise
via travel agent takes some of the
hassle out of planning a trip.
Because they have the information
about the excursions, travel agents
can help decide what trip you will
After making cruise reservations
with a travel agent's help, students
in search of sun can look forward to
a vacation of smooth sailing.
By HOLLY YOUNG
o, you missed the boat for
.Spring Break. Don't worry,
'there s still time to get on
"board for summer vacation. Cruises
are a break from the familiar beach
trip, and they can be surprisingly
affordable, even on a student
Cruises sail to the Bahamas,
Caribbean or Mexican Riviera with
three, four and seven day packages
"Cruises are an exciting vacation
and a great value, especially this
year because the dollar is doing so
poorly they offer a better deal
than a trip to Europe," said Becky
Carlson, travel consultant at Circle
Travel in University Square.
Carnival and Dolphin cruise lines
are very popular, Carlson said.
"Carnival is considered the party
' ship, so it is popular with students."
Carlson said some people are
" :scared away from cruises because
they must pay for the cruise in one
payment, which appears to be a lot
But cruises are really a great
' value, Carlson said. When people
' take a trip to the beach, they usually
' end up spending a lot of money on
' food. On a cruise, meals are
included in the lump sum for the
trip. The meals are also gourmet
' quality and served three or four
times a day.
But if travelers are worried about
gaining weight from all the good
food, there are exercise facilities on
board to help them stay in shape.
Those with a craving for burritos
and tacos might want to take a
cruise to Mexico. These cruises last
about five nights and are not much
more expensive than shorter cruises.
The extra time allows the traveler to
sightsee a little longer for about the
Vacationers should expect to
spend about $580 for a three- or
four-night cruise that sails to the
Self Help Credit Union (SHCU).
The SHCU was established in 1983
by the Durham-based Center for
Community Self Help (CCSH). The
credit union has a deposit level of $8
million, said Thad Moore, operations
manager for SHCU.
According to a CCSH pamphlet,
all employees who have worked at
a company for a certain time period
should be eligible to purchase, or
receive as part of their compensation
package, an ownership interest in that
CCSH provides technical and
business assistance to businesses
seeking to convert to worker owner
ship and employees seeking to reopen
a closed plant. Communities seeking
to begin new businesses under
employee ownership may also find
help from the center.
CCSH established the credit union
to combat the need for a capital
source available to worker-owned
Capitalization of the SHCU is a
collaboration of deposits from over
600 individuals and organizations,
presently including the United Pres
byterian Foundation, Mary Reynolds
Babcock Foundation and various
other non-profit organizations,
Thus far, the SHCU has made over
forty loans to worker-owned busi
nesses, Moore said. The businesses
that took out loans include the
Alamance Workers' Owned Knitting
in Burlington, American Apparel in
Smithfield, Twin Streams in Chapel
Hill and Nicolina in Chapel Hill.
The SHCU also offers loans to low
income families in need of housing.
The Charlotte credit union branch,
which opened in 1985, has loaned
about $1.5 million to low-income
families, Moore said.
"SHCU is presently working to
establish a branch in Asheville, and
we would like to grow to be a major
development force in North Caro
lina," Moore said.
The SHCU of Durham has also
contributed to other housing ven
tures. The credit union made a
$35,000, eight-year construction loan
to move and renovate an old house
to be used as Durham's first perma
nent emergency shelter for families
with children under 18 years old.
Recently the SCHU approved
loans to eight families who were
refused loans by banks. The families
rent small homes in the eastern part
of North Carolina, Moore said. The
credit union loans will prevent the
families from being evicted and will
enable them to buy the homes.
Four account types are also avail
able through the SHCU. A regular
share account or savings account pay
5 percent yielding 5.09 percent. A
money market account pays 5.3
percent yielding 5.44 percent, and an
individual retirement account pays
5.4 percent yielding 5.54 percent.
All deposits are insured up to
$100,000 by the National Credit
Union Administration, Moore said.
Anyone who would like to estab
lish an account could write to the
Durham office of the SHCU.
NUMBER i J
gP ONE j$
Offer good all day Mori., March 14
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9 PM-2 Ml at any Chapel l!H!Carrboro location
AfO COUPON NECESSARY!!
THIS WEELTS SPECIAL
any sub or large salad. Limit
UU one per customer. Not good
with any other offers. Good
FF5 on,y after 9 pm
Downtown- next to Johnny T-Shirt 967-5400
Glenwood- next to the new Harris-Teeter 968-4233
Eastatc Shopping Center- 967-7827
Carrboro-WiHow Creek near Food Lion 929-2283
The DTH Campus Calendar is
a daily listing of University-related
activities sponsored by academic
departments, student services
and student organizations otfi-
cally recognized by the Division
of Student Affairs. To appear in
Campus Calendar, announce
ments must be submitted on the
Campus Calendar form by NOON
one business day before the
announcement is to run. Saturday
and Sunday events are printed in
Friday s calendar and must be
submitted on the Wednesday
before the announcement is to
run. Forms and a drop box are
located outside the DTH office,
Union 104. Items of Interest lists
on-going events from the same
campus organizations and fol
lows the same deadline schedule
as Campus Calendar. Please use
the same form.
730 p.m. The Dialectic and Phi
present the Annual
Kemp Plummer Battle
Lecture on UNC His
tory. Gary Freeze of the
UNC History Depart
ment will address "The
on the Founding of the
University. "Vistors wel
Chamber, 300 New
8:30 p.m. The Fellowship of
Christian Athletes will
meet in the Kenan Sta
dium Field House.
Items of Interest
Campus Y is now taking appli
cations for co-chair positions. Pick
up applications at the Union desk
or at the Y. For more information,
call the Y at 962-2333.
Black Student Movement elec
tions will take place Tuesday,
March 22. The BSM Forum will be
Wednesday, March 16 at the
Upendo lounge at 5:30 p.m. All
interested candidates contact Wil
ton Hyman at 933-5 1 20.
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