^L. 27
Eden, N. C., January 6, 1969
NO. 12
Credit Union Pays Record Dividend
Fieldcrest Mills Credit Union mem
bers received a total of $49,464 in divi-
etrds for the last six months of 1968.
his brings the total dividends paid,
*hce the formation of the Credit Union
1958, to $319,220.
In comparison, there was $34,554 in
^ividends paid for the last six months
1967. The amount members received
January to June, 1968 was $43,988.
The December 31, 1968 dividend was
the rate of 5 per cent, the rate de-
ared effective January 1 of 1968. It
^ the third increase,
jjj he Credit Union has paid a dividend
^ at least 4 per cent per annum each
Months since its organization. The
^ ®t increase was from 4 to 4V4 per-
^ht, effective January 1, 1965, and it
as raised to 4% per cent a year later.
1 rate remained in effect until the
Cat increase of last year.
Q, ®*"atements have been issued to all
5 ®'^tt Union members showing tlie
b °ant of dividends received, the mem-
account, the loan balance
^ interest paid. If any member fail
ed to receive his statement, or has any
question concerning his account, he
should notify the Credit Union office.
The purpose of the Credit Union is
to encourage systematic savings; to make
low-cost loans to members; and to help
its members handle their finances in a
more adequate manner.
There are approximately 8,500 Field-
crest employees who are members of
the Credit Union. These are from near
ly all locations and represent a high
percentage of those eligible to join.
These members enjoy regular savings
and hundreds of members have borrow
ed from the Credit Union.
In order to make Credit Union trans
actions convenient as possible, the Com
pany cooperates by permitting both sav
ings and loan payments to be handled
through payroll deductions.
Employees who are not members are
invited to join. All that is required is a
25c fee and the signing of a card
authorizing the Company to deduct
whatever amount the employee speci
fies from each paycheck.
Tolbert Reaches 50 Years With Company
On Tolbert completed 50 years of
j^btinuous service with Fieldcrest Mills,
on January 1. Mr. Tolbert, a na-
® of Cascade, Va., has worked in the
Itlc
tiV(
JOHN T. TOLBERT
Spinning Department of the Bedspread
Mill since January 1, 1919.
For 45 years, Mr. Tolbert was a dof-
fer, but he now works as a traveler
changer.
Mr. Tolbert was guest of honor at a
luncheon given by the Company on
January 3 at Meadow Greens Country
Club. He was presented his 50-year
service pin, a gift and other mementoes.
Many members of the exclusive “50-
Year Club” attended the luncheon.
Mr. Tolbert said that the changes
he has seen could not have been
imagined in 1919. The greatest improve
ment, he feels, has been in working
conditions. He is a great booster of the
Company and likes the new manage
ment of recent years. Managament to
day, he said, expects you to do your job
and turn out the work but they are
much more considerate.
Mr. Tolbert is married to the former
Virginia Martin, of Winston-Salem, who
works in the Burling Department at
Karastan Mill. They have five married
daughters and a son and live at 486
Burton St. They are members of the
Hampton Heights Baptist Church.
Dumaine Gives Land
For Central YMCA
F. C. DUMAINE, JR.
F. C. Dumaine, Jr., of Boston, Mass.,
a director of Fieldcrest Mills, Inc., will
give a tract of 30 acres of land for the
new building and play areas for Cen
tral YMCA at Eden.
The land is located just off Kings
Highway, lying along the west side of
Smith River north of Kings Highway
bridge.
Announcement of the gift was made
by the YMCA’s board of director
through the New Building Committee,
with G. W. Moore, honorary general
chairman, W. D. Lashley, Jr., general
chairman, and Douglas Craddock, chair
man of the Site Committee.
In commenting on the gift. Chairman
Lashley said: “This generous gift of
land will assure an adequate site for our
proposed new YMCA building, as well
as for play areas and parking space for
cars. Our community is deeply indebt
ed to Mr. Dumaine for his thoughtful
ness and generosity.”
Mr. Dumaine is president of the
Amoskeag Company, the principal stock
holder of Fieldcrest Mills, Inc. He was
a leader in the organization of Field
crest Mills, Inc. to purchase the mills
in Eden and Fieldale, Va. from Marshall
Field & Company in 1953 and has re
mained a director since that time.
He has long been interested in the
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