Newspapers / The Fieldcrest Mill Whistle … / Dec. 6, 1971, edition 1 / Page 1
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THE MILL WHISTLE »■ ^ol. 30 Eden, N. C., December 6, 1971 No. 11 Credit Union Assets Exceed $4-Million 7he Fieldcrest Mills Credit Union is ® $4 million operation. The monthly financial statement as * October 31 showed that the total ^ssets of the Credit Union had reached ’4,103,709, an increase of close to a '^liliion since the same date last year. Membership in the Credit Union is “'v 8,921, representing 80% of all of J\6 employees eligible to join. In the den plants and offices, an outstanding JTo of all the employees are members ^ the Credit Union. Other locations with high percent- Ses of membership are: the Columbus owel Mill, 83 %; Foremost Screen Print ^dt, Stokesdale, 81%; Laurelcrest ilMnts, Laurel Hill, 79%; and Fieldale ^owei Mill, 73%. ®'nce its organization in 1958, the Credit Union has paid its members dividends totaling $689,578 as interest on their savings. Another semi-annual dividend of 6% per annum has been authorized for the period ending De cember 31. The current dividend rate has been in effect since July 1, 1970, the rate having been 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. Through the years, the Credit Union has assisted its members in thousands of transactions, helping them toward greater financial security through sav ings and by low-cost loans when they needed to borrow money. Since organization the Credit Union has loaned over $16 million in nearly sw:«?5?5rs»-5:tW55y:«i?? Credit Union To Pay Dividend ., Credit Union members in all loc’a- otis will receive a semi-annual 6% annum dividend, figured on the ®^age monthly balances and credit- to their share accounts as of De- '^^'hber 31. The dividend was authorized by the Credit Union’s board of directors at their monthly meeting November 29. The Credit Union has paid a dividend of at least 4% per annum every six months since its organization in 1958. ‘er, 'Mi; ^Sowing action in the Fieldcrest Ladies' Bowling League at the Bowling cen Eden, are Frances Wall, of the “Kara-Locs” team (left) and Judy Lyons of the ^cellaneous Kids” team. See ladies’ bowling pictures and story on page seven. 82,000 separate loans. These loans have helped members in financial emergen cies, with medical bills, consolidation of debts, taxes, the purchase of large ap pliances and 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 the best place for the member to bor row when he needs money for some special purpose. L. E. Chewning, manager of general accounting and taxes, who is president of the Credit Union, said the purpose of the Credit Union is to encourage syste matic savings; to make low-cost loans to members; and to help members han dle their finances in a more adequate manner. “For many years, the Credit Union has been performing a real service for employees. We are proud of the Credit Union and its outstanding reputation,” Mr. Chewning said. “We invite those who are not mem bers to join the Credit Union and use its services. We would like to see more of the present members begin regular savings. We hope that those who are (Continued on Page Three) Fieldale Gives Strong Support In Campaign Employees of the Fieldale Towel Mill gave outstanding support to the Field ale . Community Fund by pledging $22,032 in the annual finance campaign. In addition to the employees’ gifts, the company through the Fieldcrest Founda tion contributed $3,000, bringing the combined donations of the employees and the company to $25,032. The final report showed that 66.6% of the Fieldale employees pledged a Fair Share or more and that 73.1% participated in the campaign by giv ing in some amount. The Community Fund Committee, composed of employees of the Fieldale Towel Mill, met recently and allocated the funds to various agencies. The com mittee also conducted the drawings for prizes among those who pledged (Continued on Page Three)
The Fieldcrest Mill Whistle (Spray, N.C.)
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Dec. 6, 1971, edition 1
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