'
OUR VALLEY CREDIT UNION
Cor.t. fron pago 1
YT ilc the board of tho local Farriers* Co
op has takon a vital and important part in
advocating and promoting this latest Co
op ontorpriso, lot it bo roll understood
that thoir ain and ambition is to servo
tho rholo valley and nobody deserving of •
membership rill bo excluded. A prelimi
nary organization meeting rill be held in
tho nearest future, but before that it
rill bo roll to givo the valleyites more
information as to the naturo and functions
of tho credit* unions, rith ono or noro
articles to follpr.
The necessary businoss affairs rill bo
discussed and acted upon at the coming
mooting, officers rill bo eloctod and the
initial policios established as outlinod
by the fedoral lars on tho subject. .An
elected board of'directors handles tho'
business affairs, assisted by a credit, a
supervisory and an educational comnittoe,
TJho crodit committee is tho ’big*rorks’—
it doc ides rho may obtain credit. Tho sup
ervisory committee of three members must
audit’the books at least ovory three
months and report to tho members yearly
rhat has boon dono during the year. Tho
educational committee is the. public rela
tions unit of the credit union. Loans,
oxcopt those made to other credit unions
for investment purposes,*are nado to nen
bors only, The intorcst rate, including
all costs ineidont to making the loon,must
not oxceod one per cent per month on un
paid balancos. Loans nay bo made for pro
vident and productive purposos only, A
provident purposo generally is regarded as
one uhich mould bo of immediate sorvico
to the member borroror or his family in
meeting unexpected emergencies, ‘'A pro
ductive purpose is regardod as one uhich
uould aid the member borrouer to savo
through tho uiso uso of credit.
Under the fedoral act the torn of a loan
nay not oxceod 2 years. It is customary
to requiro regular intervals for repayment
There arc limits to the loan sizes as uill
be explained later, .It uill also bo ex
plained uhat nates for the safety of the
loans in a credit union. In the noant imp,
lot us gird'our loins to join tho great
hordo of 12,000 credit unions already oper
ating^in the UgS, and more added every
OR, F R si ms
DEI'ITIST
PALMER
ALASKA
PEARL WHITE LAUnDRA
„ —*<
No place to dry your .
laundry cxcopt in the T.'ihd? \
Let us do it for you—v:o have indoor"
facilities for drying clothes.
IRENE LEPAK
PERM AN EN 75
<fy
lMl/£ SETTING ^
[0(J RASMUSSEI&
Phono: 6 Y 3
Mt BE WISE ■
m
if HAVE YOUR
\ CLEANED ' AND
\> PRESSED
REGULARLY
*FICK-UF A DELIVERY
Palncr and TTasilla
OPEN 5 -DAYS,
MONDAY - --
A WEEK
FRIDAY
MARY WITT