Newell Oversees Million Dollar Club ? Hill And Lewis First Placet.?, B> KAREN M HANNON Communny N Reporter , Virginia Newell is spearhead ing an effort to help, increase entre preneurship in East Winston. Founded as a self-help organization, the Million Dollar Club is on its way to helping more African-Amer icans own their own homes and cre ating more black-owned businesses in the community. "Unless we do it ourselves, it won't be d^nffr" she said. "Most of the financial institutions known for helping blacks have been black . institutions themselves, like Win ston Mutual. They were respected early on for helping black people own their own homes." Newell said individual investors within the Winston-Salem community are now being solicited to make contributions to an account at Mechanics and Farmers Bank. Once a million dollars is raised and as deposits continue to grow, the funds will be used to make home and business loans to qualified African- American applicants. ? Newell <&id the fund may help some people who were previously turned down for mortgages by larger, more conventional lending institutions. "White commercial banks don't mind lending us money for cars." Newell said. "But when you become a property owner, you become a genuine citizen. So by December 1993, we hope to have at least a mil lion dollars to help make that possi ble." Newell said she started the club ? because .of her own concern* about the alarming number of African Americans who were turned down "for mortgages. She referred to a Nov. 30 Wall Street Journal article that uncovered a disparity in the ratio of blacks and whites being turned down for home loans across the nation. wssu Graduate Appointed -Judge Rayford A. Means. Esquire, a former resident of Winston-Salem and a graduate of Winston-Salem State University, was appointed by Rayford A. Means Governor Robert Casey and con firmed by the Pennsylvania Senate as a judge in the Common Pleas Court on Nov. 25, 1992. On Dec. 11, 1992, Means was sworn in by Judge James A. Lineberger to the Criminal Trial Division of the Com mon Pleas Court of Pennsylvania. Means is a 1973 graduate of WSSU and a 1979 graduate of North Carolina Central University oLaw School. He is currently serving on the WSSU Board of Trustees. Before being appointed a judge. Means served as an assistant district attorney and deputy district attorney of the pre-trial division. w 1STPA IV IM CORPORATION BORROW BUY OR BROWSE 2X28 UNIVERSITY PARKWAY COLLEGE PLAZA CENTER ?ONKMV-tATUftOfcV . M - SUMO AY 14 But proving that the numbers are a rrsult of racial discrimination in mortgage lending practices is nearly impossible, due to {he many factors lenders consider in granting loans. A recent series of Chronicle articles revealed the inequalities hit even closer to home. Duringjour investigation, a number of Affltan Americans from the community came forward to tell their horror sto ries of trying to capture the Ameri can Dream of home ownership. Newell said the Million Dollar Club will turn the dream into a real ity by providing a property owner ship opportunity that will increase wealth in the black community. If we can produce more prop erty owners, we will have more power to make decisions in the community, because we'll have something to use for collateral," Newell said. "Minorities are sleep ing giants. We don't know our power. We may not have much as individuals, but collectively, we have a lot of power. "There are millions of dollars - that come inl^East Winston annu ally. and it hurts me when we say we do not controf a portion of that amount," Newell said. "The reason we re at the bottom of the barrel ? the reason we're not called to the bargaining table ? is because we are poor," she said. "Black folk in Winston are ignored because we don't have anything. We've not made the move to build an institution we will be proud of in the future." She also said more black owned businesses need to be estab ?YWVS Virginia K. Newell "It's a terrible indictment for blacks to be in this community and not get a first-class restaurant in this community. If nothing else, that could be our goal. All we need to do - is to pool our resources*^ Newell - said." She said the ultimate goal of the club is to create self-empowerment. "We want to develop a mecha nism so blacks can work together. For ye^ts, we've allowed the other guy to do it. Other ethnic groups come together and do it for their own people," she said. Newell said a group of nearly 30 people have already met to orga nize the investment club, but plans are still under way. A board of directors will be established to nar row down the specifics of the club. which will be regulated by state and federal lending laws. Monday, January 23. 1993 - 2:00 p.m. - Carl Russell Re ere- . adon Center ' x First Place = Geneva Hill and Elizabeth Lewis. Second Place* Inez Oeralds ana l^essie nanon ? % "?" Third Place? Rudolph and Sarah Boone 7:00 p.m. - Winston Lake Family YMCA ?. v ,,>???,> LOOK FOR THE RED DOT SIGNS ON OUR ENTIRE STOCK OF CURRENTLY REDUCED WOMEN'S, MEN'S AND CHILDREN'S WINTER FASHIONS, THEN TAKE AN EXTRA 30% or 40% OFF THE MARKED PRICE > FOR A TOTAL SAYINGS OF 75% OFF I ^1 * ,< * ^ .vv ; MISSES', PfcFITES', WOMEN'S, JUNIORS' ? DRESSES ? SPORTSWEAR ? LINGERIE ? SHOES ? ACCESSORIES ? MEN'S, YOUNG MEN'S, BOYS', CHILDREN'S CLOTHING THE RED DOT MEANS YOU SAVE AN TRA 30% OR 40% ON CURRENTLY REDUCED PRICES HERE'S AN EXAMPLE OF HOW IT WORKS: Original* price 54.00 Current price 29.99 Less additional 40% 12.00 RED DOT PRICE I7.W For a total savings of 65% on tMs Horn. rr\?y **v*> t)>?n ta?r?n P?guU?f and Otgmat prtCM cx*?v may o? may r>o? N?\*? r?Huf??Kl ' f?#rct\*ndn# TMTy on avaiUtbfc* ?1 *?to ortc*g in uocommg ??!? ?vont* HECHT'S ? HANES MALL ? FRIENDLY CENTER