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Newspaper Archive of
Shelton Mason County Journal
Shelton, Washington
July 22, 1965     Shelton Mason County Journal
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July 22, 1965
 
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in the ini,er- tlnusu,l] his- Fedora l written ti~is in- its new office Oedar streets. will 7:00 o'clock and evening with inspect the new as Union. i atat'r na~. been quarters since the open until late- finally got Ross point- 3-girl staff of Hattie Pierce• along with off i- The Mason County Credit Union is the oldest federal credit union in this state. It. was issued nation- al charter No. 665 wheu it was orginally organized as the Shel- ton Rayonier Employes Federal Credit Union on Sept. 19, 1935 wit b sevcn illcol'pol'ators ~nd 15 rI]onl- bers. Today it l{as 1674 members, onl.y a, small percentage of whom are Rayonier employes. WHEN RAYONIER closed ~ts Shelton pulp producing plant with its nearly 500 employes in 1957 the credit union faced the choice of and BEST WISHES to a growing, healthy and Welcome contemporary serving the financial needs of our growing and healthy community. YOUR FUTURE IN YOUR HOME BE AS SUCCESSFUL AS HAS BEEN YOUR PAST. SIMPSON EMPLOYEES CREDIT UNION ~th and Franklin • Ken Fredson, mgr. the first community credit unions in the State of Washington, with its membership open to any legal resident of Mason County except those employed by the Simpson Timber Company ,who ah'eady ha:l their own credit union. The .original seven incorporators at Rayonier are listed in the of ganization's minutes as Pete Eitri- em, Carl Rains, Clint Haupt, Walt Spinharney, Wilbm" Flint, A. W. Wright and Jolm McReavy. They, along with Harry Carlon, Don Moore, George Wittingham, Char- les Norris, Clara Eitriem, Harry Cole, Charles Loitz. and Thelma Carlon, comprised the 15 charter members of the organization. CARLON BECAME the first treflsllrer and as such pevfovnlod the duties of manager. These re- sponsibilities he held until after tl~e clmnge to community-wkl(: st~ttus became effective on Au~-ust ]1, 1958 and headquarters were moved uptown to the Covey build- ing. Carton resigned in the spring of 1959 and was succeeded by Rob- ert Sargent, who stayed gout years and was succeeded by Ross April 1, 1963. Except for the year that Ray- enter closed its plant here the Credit Union has shown a steady membership increase, along with assets, savings and loans. It has ~also had a record of holding even or increasing its dividend percent- ages each year with one exception, in 1955 when it dropped back from 4 per cent to 3~ per cent. For the past: throe years a 4.8 per cent ¢tividend bns been declared. IN THE 12 YEARS between 1953 through June, 1965, member- ship has gf'own from 712 to 1674, assets from $448,8(;1 to $1,577,; 197; membership shares from 412,- 581 to 1,422,356; and h)ans from $397,388 io $1,306,505. Two statistics outstanding in tim Mason Comity Credit Union's rec- ord are found in the average say- ings of its members, which are $850 as'compared to a national av- erage of $496, and the average loan balance of $1,586 compared to the national average of $795. A study of the tables in the Credit Union's statement of con- dition found elsewhere on this page should be highly interesting to readers. They show a healthy con- dition and: increasing financial strength. PROGRESSION---Pictured here are the three homes occupied by the Mason County Federal Credit Union during its 30-year existence. In its inception it was the Rayonier Employes Federal Credit Union and occupied a small office on the ground floor of Rayonier office building. After Rayonier closed its pulp producing mill, the credit union moved to quarters in the Govey Building on 4th street and changed its name to the present title. And now today the credit union occupies a building all ,of its own at 4th and Cedar streets, where open house will be held this Friday be- tween 3:00 and 7:00 p.m. ;!i~i¸¸ ; i :;~ ~!:( :::i THE BOSS---Harry Ross, man- ager of the Mason County Fed- eral Credit Union ,assumed those responsibilities April 1, 1963 but he had much to do with it be- fore that. As an examiner for the Bureau ,of Federal Credit Unions he was instrumental in its orginal organization, little knowing then he would some day be directing its activities. He is its third manager, following Harry Car!on, wl~o served from its inception on Sept. 19, 1935, until the spring of 1959, when he was succeeded by Bob Sar- gent, who served until Ross came in 1963. THE GIRLS--Staff members who keep the wheels rolling at the Mason C~ounty Credit Union are Bernadine Duffey (left), Hattie Pierce (center) and Rose Laugen. Mrs. Pierce, although working only part-time now, dates her association with the credit union back to October, 1947. Mrs. Duffey joined the staff in 1958 when the move was made from Rayonier to the Covey building, and Mrs. Laugen became a staffer on June 1, 1963. • ii A PRETTIER SHELTON grows from such modern new additions as the Mason County Credit Union's new home. We are proud and privileged to be able to say it was LANDSCAPED BY SUNSET Congratulations and Best Wishes to the Mason County Federal Credit Unl,on and all its members from SUNSET LANDSCAPING ,1932 Olympic Hwy. N. (Mt. View)I • Herb Baze N a anxious kltets 6-30-64 to Members ......... ......................... $ 902,059. on Hand and in Bank ............ 32;327. and Loan Shares ................ 170,000. to Other Credit Unions ............ 100,000. and Fixtures ........................ 3,075. and Building ................................ 17,518• Other Assets .................................... 14,021. COMPARATIVE STATEMENT OF CONDITIONS ~Otal Assets ............................................ $1,239,000. IIItles Payable ........................................ Payable .................................... $ 936. ........................................................ 1,154,251. 64,651. Earnings ................................ 19,162. Liabilities ...................................... $1,239,000. 6~30-65 $1,306,506. 30,735. 70,122. 65,000. 10,877. 81,340. 12,617. INCREASES Amount Percent $404,447.44.8% $1,577,197. $338,197. 27.2% 50,000. 1,906. 1,422,35~. $268,106. 23.2% 80,813. 16,162. 25.0% 22,122. 2,960. 15.4% $1,577,197. REFRESHMENTS AND A TOUR THRU THE BUILDING BETWEEN 3 and 7 P.M. THIS FRIDAY AFTERNOON We invite you to inquire about the advantages of membership in our organization and to study its financial soundness and fine growth record as shown from the Statement of Condition at the left, Any legal resident of Mason County except employes of the Simpson Timber Company are eligible for membership. on of Members ................................ 1485 1674 Savings ................................ $ 777. $ 850. Loans .................................... 675 824 Loan Balance ........................ $1,336. $1,586. 189 12.7% $ 73. 9.4% 149 22.1% $250. 18.79, End 1953 1954 1955 1956 1957 1958 i959 960 !961 1962 1961 19e5 STATISTICAL DATA BY INDICATED YEAR Mem~bers Auets Shares 712 $ 448,861. $ 412,581. 736 482,138. 429,907. 833 523,358. 470,800. 826 536,758. 474,874. 706 459,657. 372,801. 737 435,248. 335,159. 904 585,704. 414,9~7. 1076 678,448. 528,076. I18~ 762,089. 692,138. 1352 963,!27. 873,833. 14~9 1,094,676. 992,140. 157~ 1,411,712. 1,287,895. 1~74 1,577,19Y. 1,422,31~. $ I.~ans 397,388. 463,833. 457,933. 463,251. 363,146. 368,265. 550,160. 632,864. 800,459. 801,243. 1,051,112. Dividends 3.5% 3.5% 4% 4 % 4 % 4% 4.75% 4.8% 4.8 4.S Ronald Casebier, president Donald Brown, vice president Russell Jacobson, sec.-treas. Harry Ross, manager Credit Committee: Dick Angle, Dick Holland, Mary Anstey, Bob Temple, James Donahoe. Supervisory Committee: Jack Christensen, Arlene Doak, Ray Schweitering Romeo Conca, director Marvin Anstey, director John Ragan, director Delmax Cole, director