The School workers Federal Credit Union was founded
in 1941 by J.E. Grlsby to help members of the teaching
————»
profession to find more reasonable means of bor
rowing money.
Schoolworkers Federal Credit
Union Has Four Million In Assets
By Jalyne Strong
Post Staff Writer
The Schoolworkers Federal Credit
Union has been operating in a very
discreet manner for 45 years, known
to few individuals save the ones
directly involved in its operation.
This circumstance belies the fact
that this predominantly black credit
union boasts 2,200 members and
four million in assets.
The office of the credit union
recently (December, 1985) located
to 431 Beatties Ford Rd. According
to Saundra Chapman, general
manager, “As we continued to grow
as a credit union we felt a need to be
in a more visible area.”
Schoolworkers is now ready for
more visibility and more publicity.
Previously, states Chapman,
people eligible to join the credit
union only learned of it by word of
mouth. “We have not made a very
good effort getting out recruiting
new members,” ahe admits. »“We
need to let individuals know who we
are and what we are.”
Schoolworkers is, what its name
suggests, a credit union specifically
for teachers employod with the
Charlotte-Mecklenburg School
System and Johnson C. Smith Uni
versity. Eligibility also extends to
those retired from these schools and
the teacher's immediate family
members.
"It is a financial institution owned
by its members,” adds Chapman.
J.E. Grigsby, a black educator
with the Charlotte-Mecklenburg
School System founded the credit
union in 1941. It was then called the
Negro Schoolworkers Federal
Pfeiffer College
Begins Registration
Pfeiffer College Charlotte will
' begin registration for its fall
semester August 25 at its urban
campus, 1416 East Morehead St.
Classes are available for under
graduate studies and for the college
graduate working toward an MBA
degree. Classes are conveniently
scheduled weekdays during lunch
hour or from 6-9 for the working
adult. Undergraduate degrees are
offered in Accounting, Business
Administration, and Criminaf
Justice. The MBA program is
available for college graduates.
For more information, call
Pfeiffer College Charlotte,
704-339-1422.
CMRSP Meets Friday
The next meeting of the Charlotte
Mecklenburg Retired School Per
sonnel (CMRSP) will be held on
Friday, August 8, from 1-4 p.m. in
the board room of the Education
Center.
Lloyd Isaacs, assistant vice
president for financial planning amd
and pre-retirement of the Horace
Mann Educators, will speak. He will
be introduced by local educator and
state president of the 10,000-member
NCRSP, Wilma Powell.
Local CMRSP president is Esther
Johnson, of Davidson
Crime Of The Week
Crime Stoppers is seekii* infor
mation into the death of Johnny Lee
Jemigan. Qn July M, IMS. atS p.m.,
the victim Was discovered lying In a
grassy area near a gravel driveway
located In the MO block of Bast Mb
Street. An autopsy of the victim
revealed internal injuries. You do
not have to reveal your identity and
can receive up to 11,000 reward for
information that leads to the
subject's arrest and indictment
z^BE^Siri _. 7 i n-T~.a3Hf' ,-^ikh •
Credit Union, since it was originally
opened for blacks only.
“Mr. Grisby started the credit
union because of his desire to help
other members of his profession find
more reasonable means of borrow
ing money and, also, have a place
where they could save money and
help each other,” tells Chapman.
There are other credit unions for
CMS teachers, points out Chapman,
such as the Charlotte-Mecklenburg
Teachers Credit Union and the State
Employees Credit Union. “But at
the time, black members found it
hard to borrow money. So there was
the need to found our own to help our
own,” she notes.
In the 1970s the word “Negro” was
dropped from the title of the credit
union to include anyone who desired
to join. The credit union, however,
still remains a predominantly black
institution with approximately 10
percent non-black membership.
wnen me creau union first began
operation, business was run from
the basement <5f Grigsby’s home.
Afterwards, the credit union was
located on 5th Street in the Winston
Mutual Building. The new spacious,
attractive office accommodations
Schoolworkers now owns on Beatties
Ford Rd. are in keeping with the
progression of this growing
business.
Chapman has been with the credit
union for six years. She previously
worked with Mechanics & Farmers
Bank. There are four additional
employees in the office. And a Board
of Directors, elected by the credit
union’s membership, is the govern
ing body of the institution.
Like other credit unions. School
workers offers many enticing ser
vices to its members, including:
savings account (shares), with very
competitive interest rates; loans on
new and used cars; free notary
service; free use of office copiers;
IRA accounts; financial counseling;
life insurance on every member and
insurance loans in event of death;
and all accounts are insured by the
National Credit Union Administra
tion up to $100,000. Adds Chapman,
“We hope to get into real estate
lending the first of the year.”
Schoolworkers also has payroll
deductions available to its
members. Rates of deposit are,
relates Chapman, “usually
consistent if not lower than other
credit unions. We work with indivi
duals so their payments are not a
burden. It is dependent upon the
economy and market conditions We
want to help the member and stay
profitable.”
Because, Chapman contends,
‘profits are returned to members in
the form of dividends paid
quarterly."
Anyone who meets Schoolworkers
eligibility requirements and is
interested in the credit union would
have to pay $25 to join; $5 of which is
a one-time fee and the remaining $20
opens the share account. They would
then be issued an appropriate
account number and then consider
what their payments would be.
One can be a member of the
Schoolworkers Federal Credit
Union for life. Says Chapman,
“We always believe once a member a
always a member. Only the member
can close out the account even if
they leave the school system or the
state."
The office of Schoolworkers is
open Monday through Friday, 9 a.m.
to 5 p.m. For more information, call
375-5781. ‘ -
God said, “I will instruct
thoo and teach thoo in
tho way which thou
•halt go: I *411 guide
thoo with mine eyo."
Psalntyi 32:8
"Beheld, I havo graven
thoo upon tho palms of
my hpnds; thy walls are
continually before mo."
baiah 49:16
Proy For America
B.OJS. PROFILE
positive
CONCEPTS
Evrtjm Dove
POSITIVE CONCEPTS offers public speaking, public relations,
motivational counseling, program planning, fundraising, and bro
chure designing. Evelyn Dove is a local attorney with fifteen years
experience conducting motivational presentations She baa con
sulted with the 8.C.L.C., Optimist chibs, Universities, civic and
community organisations, churches, and individuals. She has raised
funds for the YlfCA, United Way, and several political campaigns
Her strengths are spanking, writing, designing, and motivating.
A Kinston native and UNC alumnus, Ms. Dove has lived in Charlotte
for five years. She credits the exceptional people of Charlotte, the
cultural opportunities, and prosperous business
community for her decision to settle In Charlotte.
What has been her most notable contract? “All are unique, but I
especially enjoyed preparing an Optimist newsletter and speaking at
JCSU's Urban Studies Annual Conference.
To contact POSITIVE CONCEPTS, write to 7» Wriston Place,
Charlotte, N.C. MOB. or telephone 70MaWMB for an appointment or
proposal.
This article is part of a series
sponsored by the CHARLOTTE POST
and the CHAMBER OF COMMERCE BUSINESS
OPPORTUNITY NETWORK
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