“PAGE 10

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__ THE HERALD CREDIT UNION SUPPLEMENT

D.E. Collins on

the growth of the | tee = |

_ ‘Terrace and
District Credit .

Union

’ Whatis it that has enabled the
: Credit Union to grow from
assets of $5.80 to its nearly three
million dollars of today? To
find the answers this writer
talked to manager, David E.
Collins who came up with.the
following points.
. “The Terrace and District
Credit Union,” he stated, “has
had the support of local people

tight from the start, It started .

steadily nearly thirty years ago
and has been snowballing ever
Since. . :
_. “J. think one of the more at-
tractive of our services is the
-interestrates, On savings plans
~ our
because we don't have any
- pverhead liabilities connected
with a head office. Here we are
the head, and only, office.
“We offer customers a full
line of banking services."’
’.. “Another thing that makes
the Credit Union attractive is
‘the feeling of community and
family. Everyone who deposits
money here becomes a member
of the Terrace and District
Credit Union, a full share
holding, voting member. Every
‘year we have our general
_. meeting which attracts many
-“members. This meeting sees
‘the election of a Board of
Directors with each member

interests are higher =

David E.

having one -vote in the ‘Board
and on any questions of policy.

_No matter how much money |

they have in our banking in-
stitution, they have only one
vote.

“Plan 24 has become very
attractive to many people.
Where else, after all, can you
collect: daily interest on your

savings? When we started to §

push Plan 24 we had assets for
thal planof about $100,000, Now
it stands at six times the initial
sum.

“The biggest drawer for
people I think has to be the fact
that we are the Terrace and
District Credit Union. All
monies that are deposited here
are invested here. Being a non-

profit organization any profit,

we do make, goes back to the
share-holders. We keep all
monies here in Terrace making
the Credit Union a totally local
thing.”

These are just some of the
thoughts put forward by Mr.
Collins, those which cover the
tremendous Interest and -ac-
ceptability the Credit Union has
faced in its twenty-seven years
of existence. The end result? A
bank that started in an Army

but is now housed in one of |

Terrace’s newest. building.

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