ifa. 47
. VOL. 11
Palmer, Alaska
December 10, 1948
CO-OP nOTES
DAIRYMEN TO HOLD ANNUAL
MEETING
There will be a meeting of the Matanuska
Valley Dairymen’s (Breeder’s) Association !
on Monday, December 13, at 8:00 P#M. in
the Extension Office, for the purpose of
voting on an amendment to the By-Laws
changing the name from the Matanuska Val
ley Dairymen’s Association to the Mat a
nuska Valley Breeder’s Association, This
will be the first Annual Meeting of the
Association, and will include the election
of a Board of Directors# The M V D A is
not to be confused either with the’’Co-op ”
or with the "Militant” dairymen, but is
an organization solely for tjie purpose of
bettering tfce herds in the valley. All
those interested* whether or not voting
members, are cordially invited# Mr# Sv'eet
man will talk on the progress of the arti
ficial insemination program#
Secretary
PLEASE RETURN FANNING MILL
Will the person having the Co-op Fanning
Mill please return it to the Warehouse.
The Warehouse.
COLD WEATHER KEEPS MEMBERS
HOME
About 40 persons uere in attendance at the
Third Quarterly meeting uhich uas called
for December 7, of this uoek. About half
of the forty persons consisted of employee
uho had been invited to attend this meet
ing. The cold ueather uas blamed for keep
ing members home.
Due to the fact that therO uas no quorum
of voting members present, the usual busi
ness uas* not taken up but uill bo included
in the Annual Mooting the first part of
the year.
Mr. Lance S. Barden, Regional Supervisor
from the Bureau of Federal Credit Unions
of Son Francisco, was present and discuss
ed the formation of local credit unions’
and hou they operate,
Mr® Barden gave a brief history of the
grouth of Credit Unions in the World,fo±
louing uith the organizational st®®cturo
and hou they operate in the United States.
A great deal of interest uas in evidence
among those present at the meeting.
Follouing Mr. Barden’s discussion, a C6-op
Movie uas sboun. A lunch of sanduiches,
cQjffs-Q. and... Dixie,.
CREDIT union 13El ns
FORITIED. Ill VALLE 0
Follouing the talk given by 3tir. Lr.nce S.
Barden on Credit Unions at the meeting of'
the MVFCA on Tuesday evening of this week,
the required number of signers started an
application on its uay to Uashington for a
a local Charter to organize a Credit Union
in the Valley.
The initial membership feo in a Credit
Union is 25 cents. U"xm the granting of a
Charter to organize in the Valley the final
stops may bo takon to get things moving.
A Credit Union is organized like a club.
Each member has ono vote and the off icors
are elected from the membership. It is
organized for a particular group such as
!people uorking for the same employer;people
uho are members of the same church, labor
union, fraternal order; or people uho live
in the same community,' H&mbership is open'
| to anyone in the group, regardless of raco,
color or creed4
Mr, Bardon'explained how the credit union
is used by its oral members to accumulate
their savings and to make loans to each
other from tie ir savings* A board of Di
rectors elected by the members controls the
policies of the credit union, A treasurer
appointed by the directors takes care of
the business details, C credit committee
elec-tod by the members passes on applica
tions for loans. Each year lii an annual
meeting the members review the business of
the credit union and vote on policies,
Mr, B;irden also explained how the credit
union is safe-guarded. It is incorporated
under stato or federal law. A supervisory
committee periodically inspects the books
independently of the treasurer. An annual
examination of the books is made by state
or (federal authority. The treasurer and all
other officers who handle money are bonded,
Mr, Barden was sent to Alaska to assist in
the formation*of Credit Unions throughout
the Territory, Six such unions are nor in'
the process of being formed: two in Juneau,
three in Anchor ago and one in the Valley.,
Mr, Barden is regional Supervisor in the
Northwest area and has his Headquarters in
San Francisco, *
SECOND POTATO ADVANCE
AUTHORIZED
The Board of Directors at their last regu
lar meeting authorized Cofct, on pp, 3