St. Paul recorder. [volume] (St. Paul, Minn.) 1934-2000, 1958-01-24
crediofown Credit
Union In 20fh
Annual Meeting
BY Jean GuIImant

Approximately so members and
friends Of the Credjafawn Credit
Union met for dinner, business,
and words Of wisdom from Fred
stahl, Managing Director Of the
League Of Minnesota Credit I'm
ions. Monday night Jan. 20 at
the st. Paul YWCA.
BY a unanimous vote all incum-
bent members OF the Board Of
Directors were returned 10 office
for another 3-year term. BY a
majority vote the incumbent mem
bers Of the Credit Committee and
the Supervisory Committee were
also returned TO office for 1-year
terms.
Janabelle Taylor, Huron Shelton
and Nilee Lewis were reelected to
the board Of directors.
Reelected TO the Credit Commit
tee were Mrs. Bella Shelton, Vic
tor Galloway. and John L. Banks
Retained as the Supervisory Com
mittee were Leroy Lazenberry,
Mrs DeVaughnia Scott, and Mrs.
Dorothy Mcfarland.
Terming herself a proverbial
"squeaking wheel requiring
grease" Mrs. Taylor said in effect
that her "squeaking was for a
better and bigger Credit Union
in the coming year" Pointing out
the more obvious advantages OF
family memberships" Mrs. Tay-
lor went on to ask each member
to broadcast the advantages Of
Credit Union membership through
out the community.
Veteran Credit Union treasurer
Huron Shelton was greeted with
a gift from the organization for
his years of exemplary service.
The smuggling" Of the gift,
beautiful piece of mems luggage,
into the meeting without Mr.. Shell
toms knowledge was affected with
the aid OF Mrs. Shelton who was
In on the surprise.
The guest speaker, Mr.. stahl,
began his remarks with a round
Of congratulations TO the various
committee reports. Singled out for
special praise was Mrs. Alverta
Coram whose persistence some
twenty years ago led to the found
ing of the Credit Union. Mrs.
Coram Is honorary member of the
board.
In his address, Mr.. Stahl noted
some of the more important as
poets Of Credit Unions and credit
union membership. Thrift is best
encouraged by the credit union
method, said Stahl.
According to the Federal Re-
serve Systems report, IS per cent
of an individuals take-home pay
is used in some form of personal
credit. The advantages Of using
the credit union for personal credit
are many" Some advantages cited
by Mr.. Stahl are the high interest
return on savings (4s6), the in
surance on savings which pays
ones beneficiary dollar for dollar
returns for the amount on de-
posit in the deceased members ac-
count plus an equal amount of
insurance, the low interest rates
on loans, and loan insurance up
to $4,000.
As an example, Mr.. Stahl cited
a member having a real estate
loan Of $4,000, a personal loan
Of $4,000, and a $4,000 savings
account, IF It should occur that
this member died: 1. His $1,000
real estate loan would be paid in
full: 2. His personal loan OF 1000
would be paid in full, and 3. His
beneficiary would receive double
the amount of the savings &C
count, or $4,000"
In speaking OF Huron Shelton,
Mr.. Stahl said, the mea-
sure Of an institution is usually
the measure of a man. From all
that know, and all that have
heard. about Mr., shelton feel
the gift you presented him with
tonight was well deserved"
Among other guests in attend
ance were Cecil Newman, editor
and publisher of the Spokesman
and Recorder newspapers, Miss
Gladys Marker Secretary OF whirl-
pool tSeeeers) Credit Union, and
Mrs, Stahl,
An old editorial Of Mr.. New
man praising the Credjafswn Club
credit union was read and he was