Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / March 10, 1979, edition 1 / Page 18
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I IS- The Chronicle, Sato 111 b- *r\ KJU jwu .^K ? ; . kS^ ^1* I VirtOi In 1946 the Victory Credit Union began with a nucleus of five members and $52.25 in assets and within 10 years, the assets had grown to over $590,000. Victory Credit Union was one of several black credit unions to begin under i-tttgftBMlMifaipwHfrL lam w W.M. Nesby. The credit union is still in operation and is located on Third Street downtown, with assets of $171,000 and over 900 ' members. The present union is in the process of -rphnilHing financially, ( Nesby organized the , Victory Credit Union in . < 1946 in addition to the Iredell Credit Union in Iredell County. Because of his work fie was awarded an eight week > scholarship by the Rosenwald Fund to Roch- ( dale Institute at the National Cooperative " Training School near ~ Nesby gained most of his business experience by working 20 years with ] North Carolina Mutual Insurance in every capacity from agent to special j rpnrpcpntatiwo Uo olp" . vvjviuuimv. A AW aiau i had worked more than 10 years with the Winston Mutual Life Insu- , ranee Company and relinquished membership on the board of directors , to take over the credit union. In the early years of the union, Nesby worked for three years without compensation. When he won scholarship, his wife Clara worked in his place at the credit union for three months. When the union first began, it offered loans ranging from $5 to $200 \A7: A hj me uiMunoaiem black population at a straight 6 per cent rate. No fees were charged. Williams frc "Any society where this exi: Dr. Williams said. Because Dr. Williams came was met wun strong oppositK "There were threats of bod leaders who came out in opp< with conflicts/* Dr. William: business man they threatened and if you were a minister yo town. Dr. Williams said that blacl didn't know what they were "They had black people out "Daily worker,"" a Comm Williams said. "Some of the what tbey w^rf doUvg., and w "TETpf 'imW.ff-pitrtv " ' ?. mild mt hnur^LiVrn black community, that was Williams continued. \ rday March 10, 1979 ^ppP I I B%f WV jr f jrB v- ^1 Board Of Directors Of v B - - J r\\ an earty ooard meeting, Nesby told the group that blacks should learn to build cooperately. "As a race of people and to be recognized as such, we must learn to build cooperately and not just as individuals, ~ j?ii zzzr. or other small organizations." Nesby also said, "The Negro population is ~ called upon to observe other business enterprises in WinstonSalem, such as banks, lactones,?clothing stores, grocery stores, etc. and these business are owned by hundreds of people. A few citizens have" banded ^together in order- to build a strong ^ financial organization which is offering equal opportunity and advantages to each and every person. p The program of the H hlaflc rroHit 11 ninn ftrgfl- ^ nization was started in 1937 by the North Carolina Agriculture- Department with the feeling that blacks needed that kind of service more than any other group. ? Robert Miller, presi- ? dent of the credit union today joined tfffe union I] H when it was about a year i old. \ He said that the purpose of the union was to make loans to the " working black. "It was difficult for working blacks to get loans from large institutions so we decided to pool our monies and borrow money from ourselves/' Miller said. "We helped to get m blacks in the mainstream I u.. : _ ? uy investing ine money into real estate and personal loans." Miller said that after >m page 17 mmmmmmmmmsmmmm sts is a dangerous one," 4 out against the strike he 3n. ily harm and other black osition to strike also met ? s said. "If you were $ I to boycott vour busin^cc u were to be driven out of ks involved in the union getting themselves into. on the street selling the unist newspaper/' Dr. * black people didn't know ? ere not knowledgeable of * find -my responsibility/" Uf, \ Yvette McCnUough ^ % # ^ - t ? _ ^ 4 Jvj[ t.j HP ^ "^^|B\jLifl Lr jB|X# l^rl m| i '^jjm- jBp^ '' 'rxA. ttHlHfl Victory Credit Union 7" Union Helped T 1? "Teach Your Dollars to Have More Cent*" PANORAMA QF OUR ASSETS lit yr., 1947 $18 888 23 2nd yr, 1948 $73,624 -3rd yr., 1949 $105.472 80 4th yr.( 1950 $179,574.56 VIC1 . 5th yr , '951 $242,959 44 6th yr., 1952 . $301,379.62 ? 7th yr., 1953 $391,799.80 8th yr., 1954 $454,025.38 9th yr., 1955 $505,669.54 10th vr., 1956 $596,789.47 Of -DIRECTORS Rev W I . . Pre*ident Vr W T Hoi'U<vi> " V.ce-Pretident Mr R D Smith Secretary Mr W. M Ncibv Tree?urerM?neger - -Pro* i O. Ashley ? Director ? Vr W f Wade Director Mrt Roberta Carr farmer Director Mr WW H^dion Director . . Mr R A Amiion " Director CREDIT COMMITTEE Mr T C Hairitoo 'L v.iicirrn?n Mr Shelton Douglati Mr Ed vV#lborn Secretary ^ SUPERVISORY LUMMIMK * M/. C A Millar Chairman Mr Harry Smith Sccratary M/v Mavi* Wright * ie first 10 years the > "Our growth last yea redit union ran into was more than any yea )me difficulty and is in the past 10 years,' ow in a. rebuilding Miller said. rocess.. -Yvette McCulloiigl - - P .. _V\I B. Survival KitjfBi J f '*) [ been shown on TV being | \J |j B" I :al i-' ?_ - j smasriea wun nammers, crowbars and sledges? and surviving. if TNs Kwikset 880 deadlock was beaten, pried, wrenched?virtually destroyed. But it still held, still kept the door locked. <*? Tohelp protect you from soaring crime rates, we have a complete stock of these rugged steel and brass locks with all these security features: 1" solid-steel bolt Heavy-duty latch Steel cylinder housing V4" steel fastening bolts Dual steel Pin-tumbler cylinder reinforcing rings No home should be without at least one. It's a matter of survival. ^ y m ' I : ^ I "X* - L^il w ?^ ? W. M. N o? Open P ANNUAL STATEMENT of the TORY CREDIT UNION OF FORSYTH COUNTY . A Cooperative Victory Credit Union Chartartd April 18, 1946 DECEMBER 31, 1956 irifty People Join the Victory" Office: 7 East Third Street WINSTON-SALEM, N. C. 4 Th I I Willie Simm< Hanes in 194 ? high goal helped him company. M supervisor z Communicat Managing cg heads up the mail, and all I Willie's staff he has pride< , years ago. V> . . . everyone I We*re glad \ ? ' - mmi "? ' d% "* ?? : I. i 1 *>* i m esby oors ~ ?: AND TRUST COMP 722-1336 Stratford Open 9-1, Sal 110 STRATFORD 3125 MAPLEWO< e Hane V I 3+3k M W Willie L. S ons is another member of k> as a janitor, Willie brouj s and a desire to do a go to reach his goals as he Millie moved from janitoi tnd department head b< ions. immunications for Hanes I j - - - - department which keeps \ forms of recorded commi of seven helps him maintj i himself on since joining fhen you think about it, tY j doing the best he can so Villie is a part of our tean JLrHane .... - HANE3 HOQ>CR?--*-W L EGGS PRODUCTS T ?. % YOUR R?|mUi Hm*t 201 S. Slrvlitd li W?WH IMf. c??i>? oyTw ~ DRYCLEAN OFTEN! T "A Good Habit To Cot Into" I founnie ?S?yJ ? ^Joduij j I 0...^ / ,.... /O/i ^rii/rjirnirrii ffi <^njt HUHlH(J KyjieH | Su ve* tyou 1/hioney ^Jomorrow I I COMPLETE LAUNDRY * DRY CLEANING PICKUP * DELIVERY 722-?196 | I JENNY SAYS "CALL ME FOR HOUSEHOLD HINTS" I .H Your idle money earns 5% 5J interest in Forsyth Bank s 7# exclusive Save N Check plan Contact us today for more A,SiY information urdayv M?wb?r FOIC ROAD e ONE WEST FOURTH ST. 3D AVE. 3410 ROBIN HOOP RD. j/J Team L 7 ; J.M v: "' lT^-v,:' I ^ . - " ' " ' J|^L limmons the HANES TEAM.When he joined ght two important things with him od job. That desire to work hard progressed upwardly through the to mail clerk, and then on to rfore being named Manager of t iosiery is a demanding job. Willie track of all incoming and outgoing mication with the divisioi\ as well, ain the high quality of work which the HANES TEAM more than thirty iat is what team work is all about that the team will do its best. i and we want you to know it. * j iS KM66 KWrWEAR ; ' *1 ? HE BALI COMPANY 7|
Winston-Salem Chronicle (Winston-Salem, N.C.)
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March 10, 1979, edition 1
18
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