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Page 10 / Clinton Mills Clothmaker / Credit Association News / February 1987 Long Term Savings Opportunities Are Provided In August 1986 Clinton Mills announced the establishment of the Clinton Credit Association, a non-profit financial institu tion which provides a wide range of services much like those you would expect from a bank, savingsand loan, or finance company. It is important that Clinton savers consid er that the main purpose of the association is to provide loans and savings programs at competitive rates for its members. The association encourages its members to review their payroll deductions periodical ly and to minimize the number of withdraw als made from accounts. “Many savers are building quite a large savings balance by regular payroll deduc- tionsand dividend earnings," noted Dickert, “while others are withdrawing the amount of their deductions each week." “Excessive withdrawals are expensive to the association because of the amount of paperwork necessary to make disburse ments. Employees who find it necessary to make frequent withdrawals should consider lowering their payroll deductions in order to Employees who find it necessary to make frequent withdrawals from their savings account should consider lowering their payroll deduc tions in order to meet their current expenses. —Harvey Dickert, Manager Genelle Robertson, left, and Javan Atkinson, center, listen attentively as Sandi Satterfield explains the details of the Clinton Credit Association loans and savings program. Terry Messick, like hundreds of other employees, is finding the Clinton Credit Association a convenient way to save regularly. meet their current expenses/’ noted Dickert. “We’re very pleased with the rapid growth our association is making and certainly wish to encourage members to establish a syste matic savings program." “However, members who find it necessary to make weekly withdrawals should consider a personal checking account such as those offered by other financial institutions," he added. “The Credit Association offers an excel lent means of saving through payroll deduc tions. Most of our members are saving to meet long-range financial goals. This is not a substitute for a checking account and is not a Christmas savings program," he con tinued. “In order to meet the loan demand, accu mulate reserves, and meet operational ex penses, we must monitor all ofthe activity of our institution." “Our trained tellers and receptionists pro vide prompt courteous service to all our members. The strength of the Credit Asso ciation depends on enthusiastic savings goals by our members and a strong loan demand. We encourage all our savers to let their savings grow and accumulate a large balance," stressed Dickert. Harvey Dickert, Credit Association Manager, explains to an employee, via telephone, the many advantages of participating in the Credit Associa tion. Credit Insurance Available The Clinton Credit Association offers Cre dit Disability and Credit Life Insurance for loan applicants. Credit insurance is voluntary and not re quired in order to obtain a loan. This type of insurance takes the worry out of making loan payments when your income has reduced because of sickness. If you elect to participate in the insurance program, the changes for the insurance will be added to your loan each month. Individuals are eligible for insurance up to the maximum age for insurance, which is 66 “The Clinton Credit Association provides a convenient way to save money. It’s a good benefit the com pany has added for the employees/’ Tommy Starling, Geneva. for disability and 70 for life. Single credit disability rates are 210 for each $100 monthly loan balance and single credit life insurance is 5.50 for each $100 monthly loan balance. Disability benefits will begin with the 15th day of disability. Benefits are paid directly to the Credit Association to pay off or reduce your loan. Clinton Credit Association employees will be pleased to discuss the provisions of the disability insurance program with eligible loan applicants. Old Timers Are Eligible “A reminder to Clinton Mills retirees — Old Timers and any eligible employees re tired under the company’s retirement pro gram —you are eligible to participate in the Clinton Credit Association and may enroll at any time," says Manager Harvey Dickert. Some retirees have already signed up, but “There are still those who are not aware they are eligible and that there is no de adline for enrolling," added Dickert. All it takes for an eligible member to join is for the depositor to pay a $2 membership fee and maintain a balance of $5 or more. An enrollment card must be completed, also. Membership Cards Available Clinton Credit Association membership cards can be picked up at the association office at 301 Bailey Street, Clinton, or from the Geneva office. Completed cards can be returned directly to the office to save post age. A member of the Credit Association staff will be pleased to assist any member in completing the membership application.