July 22, 1965 Shelton Mason County Journal | ![]() |
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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