The Daily Tar HeelTuesday, April 19, 19885
Business
Student credit union reports increased services, assets
By CRYSTAL BELL
Staff Writer
The Carolina Student Credit
Union has increased its efficiency and
expanded its services since opening
its doors to the student body on
January 11, according to CSCU
officials.
Assets are already in the $170,000
range, said CSCU President Andy
Taubman. Todd Hart, co-founder
and former president, said member
ship has increased from 15 members
when the union opened in January
to about 96 now.
Student volunteers attribute the
credit union's success to its devotion
to serving student needs.
"We do offer a very good value
to students," Taubman said.
To become a member, a student
must pay a one-time $10 fee, which
is the only charge for all normal
Insurance rates prompt
forms to begin health plans
By TROY FURR
Staff Writer
As group insurance rates rise,
many companies are devising
health plans at the work site to
improve not only the health of their
employees, but also their attitudes.
When insurance costs went up
in the 1970s, almost every company
in the nation began to have some
sort of preventive medicine on
location, said Margot Lester,
public affairs coordinator of Blue
Cross and Blue Shield of North
Carolina.
In 1960, U.S. companies spent
about $3 billion on insurance for
their employees. By 1986, that
figure had ballooned to $109
billion.
And by the end of 1988, prices
will rise 15 to 30 percent, said
Frank McArdle, education direc
tor of the Employee Benefit
Airfares to
By MYRNA MILLER
Staff Writer
tudents flying home or taking
that much needed summer
vacation need to look at
round trip airfares before May 20,
according to various travel agents.
"Every year ticket prices increase
around May 20, because May signi
fies the beginning of the high travel
season," said Stana Knez Dewhirst,
travel agent for AAA Travel
Agency.
Airline travel prices change by
season everywhere, and in May a
ticket to the west coast will cost
about $30 more than it does now,
she said.
Although the prices increase
around May 20 every year, there is
no set percentage for the increase,
said Janet Clark, manager of Hori
zons Travel. Sometimes the airlines
increase prices and then have to turn
around and decrease them to get
bookings.
"After May 20, almost all domes
tic fares will increase somewhere
between $10 and $20 because the
airlines know people are going to
fly, and that they might as well get
the extra money while they can,"
Clark said.
Students trying to book airline
seats may be frustrated to find that a
one-way ticket might cost more than
a round trip ticket.
"We have yet to understand the
reasoning behind ticket prices,"
Clark said. "I guess (the airlines) are
trying to get your round trip busi
ness so that you don't fly back on
another airline."
Pricing is based on distance, but
airlines sometimes offer cheaper
excursion fares on round trip tickets
to people who are willing to work
their schedules around the airline's
restrictions, said Louanne Keichline,
manager of Viking Travel.
What is actually happening is that
many people are buying the cheaper
round trip tickets, picking a fake
return and only flying one way,
Clark said.
This actually hurts the airlines
STING
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transactions like withdrawals and
deposits. All accounts are insured up
to $100,000 by the National Credit
Union Administration.
The basic membership service
includes a share account, similar to
a savings account, but has no service
charge and pays a higher interest rate
than most banks, Taubman said.
The basic service also includes
share certificates, similar to Certifi
cates of Deposit, for various lengths
of time. Because CSCU is student
oriented, members receive higher
interest rates than at most banks. The
current interest rate for a 12-month
certificate is 7.55 percent.
In addition to share accounts and
share certificates, which were among
the credit union's original services,
CSCU now also offers loans. The
shared-secure loans are a good way
for students to build a good credit
Research Institute in Washington,
D. C.
"Spending for health insurance
in some cases exceeds spending for
pension benefits," McArdle said.
Elaine Coleman of the Robert
E. Mason Co. in Charlotte said
workers who have been with the
company for three years are given
partial compensation for medical
checkups, and all prospective
employees are given free physicals.
From those physicals, two cancer
cases were detected early enough
for the employees to continue
working, she said.
Northern Telecom Inc., in
Research Triangle Park, spends
approximately $375,000 a year on
this sort of health aid. Northern
Telecom is one of the few corpo
rations in the area with an on-site
gym.
increase for summer
Air Fare Comparison
Raleigh Orlando, Fla. Raleigh New York
Airline One Way Round Trip One Way Round Trip
American $276 $188 $69 $148
Delta $224 $188 not available
Eastern $219 $190 $69 $148
Piedmont $224 $190 $89 $148
United not available $89 $148
and the passengers. The airlines
have caused the problem themselves,
Clark said. But many passengers
can't get onto flights because they
are booked with people who may
not even be planning to use their
return flights.
Students who are checking into
flights should make reservations as
soon as possible after receiving the
information, Keichline said.
"Many of the cheaper fares offer
no flexibility, and each day, differ
ent rules apply for the special fares,"
she said. "Also, availability is tight
on the cheaper fares."
Some of the typical restrictions on
low fares include: buying tickets at
least two weeks in advance, flying in
the early morning or late evening,
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history, Taubman said. The money
is borrowed against a savings account
or share certificate.
"Building a good credit record now
saves money in the future," he said.
The most successful loans so far
have been computer loans, said Barry
Lovette, loan officer and credit
committee member. Most students
have their parents co-sign for the
loan, which must be repaid within a
year, Taubman said.
B.C. Cone, director of marketing,
said the credit union is now working
on a joint marketing effort with the
Student Stores to help students
finance purchases of computers.
The organization also offers travel
loans. CSCU gives money to students
who need it to finance a trip to
another city for a job interview. The
student repays the loan after the
company who interviews the student
But many workers are not taking
advantage of the gym, said Sherry
Lehman, staff exercise physiolo
gist. "We are involved with so many
aspects of fitness and health at
Northern Telecom, but (only) 30
percent of the employees are
involved in some way."
But Duke University professor
Blair Sheppard said the health
programs attract the best prospec
tive employees. It makes the com
panies more attractive but does not
necessarily make a worker more
productive or loyal, Sheppard said.
"The services certainly make
companies more attractive, there is
no denying that," Lester said.
"However, 1 truly believe the main
purpose behind the programs is the
well-being of the employees and the
decrease in the amount of money
spent on group insurance costs."
flying only on certain days of the
week, staying at least one Saturday,
and having no opportunity to make
changes or get refunds, according to
various airline agents.
Another factor students need to
consider, especially if they are going
on a vacation and have a choice, is
their destination. For example,
tickets to Orlando, Fla. cost much
more than tickets to New York City.
Also, a round trip ticket is the
cheapest way to fly to Florida, while
a one way ticket to New York is
cheaper, according to airline agents.
Whatever vacationing students
decide to do, they need to do it
soon. Summer bookings are filling
up fast, especially the cheaper econ
omy fares.
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reimburses him for his expenses,
Taubman said.
Although CSCU does not have
checking services yet, it does write
cashier's checks, which are often
looked upon more highly than per
sonal checks, Taubman said. It also
provides direct bill-paying to the
University cashier, using funds
directly from the member's account,
and the services are free, he said.
CSCU plans to offer traveler's
checks, money orders and a Carolina
MasterCard by next semester, Taub
man said. It also will provide check
ing services as soon as there are
enough members to make it feasible
and profitable, he said.
Hart said these services will be
available at no additional charge.
"Our goal is to have no service
charges," he said.
CSCU is able to offer free services
Airoort adds international service
By CHRIS SONTCHI
Staff Writer
On May 26, Raleigh-Durham
Airport (RDU) will become Raleigh
Durham International Airport as
American Airlines inaugurates its
daily non-stop service to Orly Airport
in Paris, France.
The inauguration of international
service from RDU is a new direction
for the airport and North Carolina,
said Teresa Damiano, public affairs
manager for the Raleigh-Durham
Airport Authority.
"This is an historic day for the
region," Damiano said. "It's going to
open up new worlds in commerce."
Promotional events such as a
ribbon-cutting by Gov. Jim Martin
and the French ambassador to the
United States will highlight the event,
said Bob Hawkins, Southeastern
regional sales manager for American
Airlines.
In addition to the airline service,
participants in the ceremony will be
marking the opening of the new
Federal Inspection Service facility
adjacent to American's international
gate. The FIS includes customs and
immigration services and is designed
to accommodate 200 passengers per
hour, Hawkins said.
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because it does not have to pay
employees. Consequently, overhead
costs are very low in comparison with
banks.
In addition to providing inexpen
sive services to Carolina students,
CSCU "provides quality business
experience for the people who work
here," Hart said.
Five faculty members and five
credit union presidents advise stu
dents who run CSCU in the areas
of finance, marketing, accounting
and economics, Taubman said. But
students make the decisions, serve on
the board of directors, manage the
money and oversee daily operations.
"This is the real world," said Scott
Schneiderman, assistant general
manager. "You can't get this kind of
experience in the classroom."
Lovette, a loan officer, agreed. "It's
been a great experience for me,
The size of the $2.5 million FIS
investment, paid for by American
Airlines, is an indication of the
airline's confidence in RDU's future
as an international hub, he said.
"The (air) traffic is there. We
wouldn't have invested the money if
we felt this was a speculative adven
ture," Hawkins said.
American is interested in expand
ing its international service beyond
the RDU-Orly flight, but not before
the end of the year, he said.
Possible destinations of expanded
international service are Mexico,
Canada and Germany, Damiano
said.
Fares for the Paris flight will vary
widely, Hawkins said.
This spring and summer, American
will be offering a promotional round
trip fare of $815, he said.
A special youth fare of $554 round
trip for persons between 12 and 25
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learning to execute loans."
Schneiderman said volunteers in
the credit union have been pleased
with their work and accomplish
ments. There is also great potential for
promotions in a short time, general
manager Brad Beebe said.
CSCU will continue operation
during both summer school sessions
and will need more student volunteers
for summer as well as next fall.
Volunteers are needed in finance,
marketing, advertising, operations,
management, investments and
accounting.
Anyone interested in working for
CSCU or becoming a member should
stop by room 103 in the Carolina
Union, next to the film auditorium.
CSCU is open 10 a.m. to 2 p.m.
Monday through Friday, and 10 a.m.
to I p.m. on Saturday.
years old will also be offered,
although tickets cannot be purchased
until three days before the flight,
Hawkins said.
The youth fare is discounted from
the economy, business and first class
fares, which are $918, $1,171 and
$2,034 one way respectively, he said.
American Airlines' flight 34 to
Paris will leave RDU at 9:05 p.m.
and arrive in Paris at 1 1 :05 a.m. (Paris
time). Flight 35 from Paris will leave
at 2 p.m. (Paris time) and arrive in
RDU at 5:25 p.m.
It's difficult to judge if the RDU
Orly flight will increase student travel
to Europe, said Judy Christam, a
travel agent at the Continental Travel
Agency.
"It's hard to say. Students look for
the best price," she said.
With the student fares, Christam
said, American's prices should remain
competitive in the student market.
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