HomeMy WebLinkAboutClinton News-Record, 1958-02-13, Page 10congratulations
to the
CREDIT UNION
W. E. Managhan
CLINTON
Plastering and Stucco
Phone HU 2-7471
7-p
ANNOUNCING•
NEW LOCATION
HURON COUNTY FEDERATION
OF AGRICULTURE OFFICE
Effective February 17, 1958
Our Office will be located in the New Credit Union
Building Corner Ontario Street (Highway 8)
and William Street.
J, CARL KMINGWAY WINSTON SHAPTON
Secretary-Fieldman President
7b
4,44-00-4.4-44-•
Congratulations
. . . on the occasion of the opening of your
new building — a sign of growth, development and good
service to members, and an eye to the future.
A note of APPRECIATION, too, Your credit
union has given CIA insurance services warm welcome and
support: first in automobile insurance andn the in our other
support: first in automobile insurance and then in our other
,special tractor coverages), accident and sickness and home
protection insurance.
BEST WISHES for your continued success!
Co-operators Insurance *Association
402 1/2 Richmond Street — LONDON
Telephone 8-2177
• He is saving so he and his wife
can take an extended'motor trip She is saving so she can continue"
her music studies
. ..
Congratulationsl
to the
CLYNTON COMMUNITY CREDIT
UNION L.T.D.
on the opening of the new office
We are pleased to have been °warted the contract
to serve them with oil requirements.
ti
A. G. Grigg & Son
Coal and Fuel Oil
CLINTON HU 2-9411
7-b
pAGfl 'TgN
MAN ON NEW.540/10041) A raluitspiAY, JANUARY 1.3, 1958
Use of Credit Union Increa sing
For the past decade or so the
number of credit unions has been
increasing en an average of MQVQ
than 150 a year. At the end of
1956 the number of ,credit unions
stood at 4,191, It is interesting
to compare the number of credit
unions in Canada with the number
of branches of the chartered
banks.
At the end of 1956 Canada's
ten chartered banks, including the
Bank of Canada, had more than
4,400 branches and sub-agencies,
and for the past decade the aver-
age increases have been about 120
annually. Banks got off to a head
There were 1,555 new credit un-
ions formed in the western hem-
isphere during, 1957, bringing the
total number of credit unions to
23,876, according to the Credit
Union National Association (CU
NA).
During the% past year, 1,372 cr-
edit unions in the United' States
and its possessions; 4,219 in Can-
ada and 893 in. South America,
Central America and _the West
Credit, Unions have beep exem-
pt .from income taxes for more
than 20 years, and OUNA, the
Credit Unioh National Association
steadfastly opposes any repeal of
that status.
In the United States in Jan-
uary, OUNA officials testified be-
fore the House 'Ways and Means
Committee saying, "some 300,000
Americans volunteer their time
and effort without monetary com-
pensation every day to make pos-
sible the benefits of credit union
services to an ever -increasing
start of course. By 1905 there
were already more than •1,100
branches operating in Canada,
but there was not even legislation
Under which a credit union could
be incorporated until the passage
of the Quebec. Syndicates Act in
1906,
Credit unions and banks are of
cows not comparable in many
important respects. For instance
the services of the banks are
offered to a much greater number
of people because they welcome
all corners. Credit unions on
the other hand deal only with
members.
Illinois led the U. S, in new
credit unions during 1957, with
138, closely followed by Californ-
ia-. with 125. In Canada, Ontario
led all.provinces with 67 new Cr'
edit unions.
The Credit Union Nation As-
sociation (CuNA) is an independ-
ent, non-profit organization work-
ing for the advancement of econ-
omic democracy through credit
unions. It is entirely supported
by the dues of its' member credit
unions throughout North' America.
number of our citizens. To tax
credit unions on the savings made
through this unusual public-spirit-
ed volunteer effort would in; ef-
fect be a tax upon the dedication
and contribution of these individ-
uals to the common welfare,"
Also, W. 0, Knight, Jr„ presid-
ent testified that "bills intended
to repeal this exemption have been
introduced from time to time, but
Congress-has declined to take act-
ion on them, recognizing the un-
ique, nonprofit character of credit
unions."
CONGRATULATIONS
CLINTON
The opening of the new building of the
Clinton Community Credit Union Limited
is another indication
of your progress.
It is a matter of pride to us that we have been
privileged to supply the Main Vault Door and Safety,
Deposit Boxes for this Building,
Chubb Safe Company Ltd.
577 OXFORD STREET TORONTO 14, ONT.
MANUFACTURERS OF A COMPLETE LINE OF SAFES AND RECORD PROTECTION
EQUIPMENT TO SERVE COMMERCIAL, INDUSTRIAL AND "
RETAIL BUSINESSES.
CHUBB — Largest Manufacturers of Safes in the Commonwealth
Ontario Leads All Provinces
With 67 New Unions Last Year
Credit Unions Are Tax-Exenipt
On Grounds of Volunteer Workers
BEST WISHES
to the
CLINTON COMMUNITY CREDIT
UNION LTD.
F. At Peckitt and Son
PLUMBING — HEATING — SHEET METAL
LONDESBORO — ONTARIO
Suppliers of
Universal-Rundle
THE WORLD'S FINEST WASHROOM
FIXTURES
Exte,udg Best Wishes to the Clinton. Community
Credit Union Ltd. on their fine new home.
It was our pleasure to do the decorating
in the fine new' office building.
....,••••••••••spor -virr•-virr.:
Grant Rath
Painter and Decorator
CLINTON
HU 2-7040.
7-p
have a
bank cc ,,unt. and
a purpose for saving
The difference between reaching a goal and
missing it can be the savings you put by,
now, in. a bank account.
'Such savings don't just happen. They involve
some sacrifice, definite planning. But as
your dollars mount up you feel a sense of
accomplishment, of getting somewhere, that
makes the effort more than worth while.
Your. bank account provides ready cash that -
can help take care of any emergency that may
arisp, or open the way to barga4ps or other
opportunities. Whatever objective you may have
in mind, and whatever use your savings may
ultimately serve, you'll always be glad you saved.
Save at a bank do 1
A THE CHARTERED' BANICS SERVING YOUR .COIPAMUNI*Y, 7-p