Newspapers / The Fieldcrest Mill Whistle … / Aug. 30, 1971, edition 1 / Page 1
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^Ol. 30 Eden, N. C., August 30, 1971 No. 4 Credit Union Continues To Show Growth 4 whopping 93% of all employees in Eden area are members of the Field- Mills Credit Union. The latest re- ®°ft shows that of the 4,879 employees Eden 4,534 have joined the Credit dtiion. , The next highest percentage of mem- ®^ship belongs to the Columbus Towel where 84% of the employees are ^embers. Columbus is followed by the '^rernost Screen Print plant at Stokes- 3le with 81% of the employees belong- to the Credit Union. Other locations with a high percent- Se of membership are: the Laurelcrest 9nts with 76% membership; the Mount .p°Ey Spinning Mill, 74%; the Fieldale owel Mill, 73%; and the Automatic ®nket Plant at Smithfield, 70%. Throughout Fieldcrest Mills, Inc., in j®‘h manufacturing and sales, 80% of 6 eligible employees are members of ''e Credit Union. The report showed total assets of the Credit Union at the end of July totaling $3,888,560, having increased from $3,154,769 a year earlier. For the six months ending June 30, the Credit Union paid its members $82,456 in dividends on savings, making a total of $689,577 paid out in dividends to members since the Credit Union was started in 1958. The current dividend rate is 6% per annum, having increased steadily over the years. The Credit Union has paid a dividend of at least 4% per annum each six months since it was organized. Since its organization, the Credit Union has made 79,276 separate loans totaling $15,706,066. These loans have helped members in financial emergen cies, with medical bills, consolidation of debts, the purchase of large appli ances and in a variety of other ways. Interest on loans is charged at the rate of .9 of 1% per month on the un paid balance, making the Credit Union fieldcrest County’s Largest Taxpayer fieldcrest Mills, Inc., has become the *^Sest taxpayer in Bockingham Coun ty . ’ moving up over American Brands orrnerly American Tobacco Company), ^ch held the top spot for many years, statistics supplied by the county Tax apartment show that Fieldcrest paid « tr $29, $otal of $429,182.52 on a valuation of 196,090. In addition Fieldcrest paid $307 'Vh, >810.95 in taxes to the City of Eden, ere Fieldcrest has long been the lar- taxpayer. S9i Power Company, paying $386,- ■i*38 J!- $27 in county taxes on a valuation ,015,040, was in the second posi- f,., among Bockingham County tax- *^^Vers. (jj^Pierican Brands paid $384,160.38 in 5,^*^ty taxes on a valuation of $29,- jjj,400, dropping that firm to third po- among the county’s largest tax- '■loti 9°unty tax director Henry Sands ^’*9ted Poi, ;j, - out that though American ®hds maintained the highest valua- tioh - y, ‘ in the county. their total taxes . fe lower than those of Fieldcrest or -A Power, lhat nonson for this, he explained, i 1 both Fieldcrest and Duke Power have large holdings in Leaksville Town ship, which has a 27c per $100 valua tion school supplement tax. Bounding out the top five county taxpayers during 1970 were Madison Throwing, fourth, $156,301.44 in coun ty taxes paid on a valuation of $13,- 025,120, and Transcontinental Gas and Pipe Lines corporation, fifth with $129,- 124.21 on a valuation of $10,435,860. The top three companies together paid over 25 percent of all taxes paid to the county during 1970, with Fieldcrest accounting for 8.97 percent of all coun ty taxes, Duke Power for 8.09 percent, and American Brands for 8.03 percent. Washington Mills was the county’s sixth largest taxpayer with $63,409.56 paid on $5,284,130 valuation. Others in the top ten of county taxpayers were; Central Telephone, seventh, $43,044.94 paid; Southern Bell, eighth, $42,911.83 in taxes paid; Burlington Industries, ninth, $37,253.40; and Southern Bailway, tenth, $33,864.05. Largest Eden Taxpayer Fieldcrest topped the list of Eden tax payers in 1970 with $307,810.95 paid on a valuation in the city of $21,082,942. (Continued on Page Eight) the best place for the member to bor row when he needs money for some special purpose. In order to make Credit Union trans actions as convenient as possible, the Company cooperates by permitting both savings and loan repayments to be handled through payroll deductions. The purpose of the Credit Union is to encourage systematic savings; to make low-cost loans to members; and to help members handle their finances in a more adequate manner. L. E. Chewning, manager of general accounting and taxes, who is president of the Credit Union, said: “We know from the success of the Credit Union that it is performing a genuine service. We would like to see an even higher percentage of the em ployees become members. “Also, we would encourage the pres ent members to make full use of the Credit Union by saving regularly and by thinking of the Credit Union first when they need to borrow money. “We invite every employee who is not now a member to obtain a card from his departmental supervisor and to sign up for the Credit Union and make use of its services.” Fieldale 25-Yr. Club The annual picnic for 25-Year Club mernbers at the Fieldale Towel Mill has been scheduled for 4 p.m. Saturday, September 18, in the picnic area at the Fieldale Baseball Park. The Fieldale Towel Mill has 329 em ployees who are members of the 25- Year Club. Of this number 211 are ac tive employees and 118 are retired un der the Pension Plan. New members to be welcomed into the club at Fieldale this year are: H. Simmons Adkins, Eugene Belton, James W. Bocock, Sr., E. Glenn Bullard, Della K. Bullington, Winfred D. Cau- dell, Henry S. Eanes, Mattie S. Fer guson, Lillie H.' Foster, Bachel C. Ful cher, T. Elmer Fulcher, Turner L. Gil bert, Benjamin C. Gregory, William P. Helton. Also, William C. Hill, Lemuel H. Hopkins, Nellie J. Nunn, Buby S. Per- IContinued on Page Seven)
The Fieldcrest Mill Whistle (Spray, N.C.)
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Aug. 30, 1971, edition 1
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