Historical Newspapers of South Carolina

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Credit association provides quality financial services The Clinton Credit Associaiton pro vides quality financial services to almost 3,000 members. The year 1990 was one of continuous growth. Assets increased from $2,822,922 to $4,167,878 during the year. Since the association began making loans in 1987, over $5.6 million has been made available to eligible mem bers to meet a number of financial needs. The association has over 1,200 loans outstanding. These total over $2,514,918. In his report to members, Harvey Dickert, manager, noted that assets grew by over 47 percent during the past year. Loans went up 5.48% and equity increased 32.59%. The Clinton Credit Association Board of Directors and officers in clude James Buchanan, president; Joe Nelson, vice president; Norman Cra ven, treasurer; Martha Simmons, sec retary; Herman Williams, Mack Par sons and Martha Prather, directors. Supervisory committee includes members Margie Jacks and B. F. Harvey. Credit committee consists of mem bers Gerald Satterfield and James Shealy. Mrs. Pat Owens holds an engraved plaque recognizing her service as secretary to the Clinton Credit Association since it was established. Pat has been succeeded by Mrs. Martha Simmons, left Shown representing the association are President James Buchanan and Vice President Joe Nelson. >-Gorga The Clinton Credit Association is among the most widely used benefits offered by Clinton Mills. It is a federal credit association. Credit associations are non-profit financial cooperatives owned by the people who save and borrow there. Every employee is a member and every member is an owner, with the right to vote for officers who establish the credit association policies. At the Clinton Credit Association, the highest priority is placed on peo ple. After all, you're more than a customer — you're a member — and this means close personal service, regardless of the size of your account. A highly trained and professional staff is always available to assist employees with financial services. Who Is Eligible? Those eligible to participate in the Clinton Credit Association are: • Employees and eligible retirees of Clinton Mills, Inc., its subsidiaries; and divisions •Spouses of those who died as employees, eligible retirees of Clinton Mills, Inc., its subsidiaries and divi sions and • Members of the immediate fami lies of those eligible who reside in the same household. What Services Are Offered? The Clinton Credit Association pro vides a wide range of financial ser vices much like those you would receive from banks, saving and loan institutions, or finance companies. All Clinton employees have the option of having a specified amount deducted from their paychecks for automatic deposit to the credit asso ciation. Other deposits can be achieved through the mail or by visiting the credit association office. Is My Money Secure? Credit association members' ac counts are insured for up to $100,000 by the National Credit Union Admi nistration, a federal regulatory agency. Over the years, credit associa tions have been among the safest institutions in which to keep your money. Who Makes Policy Decisions? All members of the Qinton Credit Association have a voice in the poli cies made. Each member has the right to one vote in the annual election of a board of directors, the group respon sible for guiding the association's operations. Once you join the credit association, you may remain a member whether or not you are employed by Clinton Mills. This also holds true for family members. However, to keep your account active, you must maintain a minimum balance as set by the board of directors. How Do I Join? Employees who wish to join the credit association must complete a membership card and a payroll de duction authorization card. The ac count will become active when contri butions reach a minimum of $7. Five dollars of this amount goes into the member's savings account; two dol lars is a one-time enrollment fee that goes into the credit association's re serves. For those who don't desire payroll deduction, a check for a minimum of $7 must be deposited with the credit association to complete the applica tion. According to Harvey Dickert, man ager, the association has funds avail able to make quality loans to eligible employees. "We're particularly interested in making new car loans," he added. "For a limited time, we’ll match or beat an eligible bona fide rate on a qualifying new car loan. This has been a popular program with our members and has resulted in considerable savings for those who participate." "Our savings programs and di vidend rates are competitive with other financial institutions in our areas," explained Dickert. (Continued from page 1) was one of seven members of Milli- ken's Corporative Quality Task Force which was established to compete for the Malcolm Balridge award which Milliken received last year. He graduated from Philadelphia College of Textiles with a Bachelor of Science degree in textile engineering Brewington achieves G.E.D. Otis Ray Brewington, Lydia loom technician, recently completed re quirements for his G.E.D. through the Adult Education Program. Through the company's interest in promoting improved education among its em ployees, approximately 30 have achieved their G.E.D. Clinton Mills is committed to strengthening the education level of its employees and other citizens. The statewide educational programs en courage businesses and industries to help people improve their basic and technical skills by offering and en couraging employees to return to school. and earned a Master’s of Textile Engi neering from the Institute of Textile Technology. He also completed the Executive Management Program at the University of North Carolina School of Business. Gorga, his wife Carolyn and two children, Caroline and Matthew, will reside in Greensboro. Otis Ray Brewington