Times-Advocate, 1981-12-02, Page 30ALL
TIMEX
WATCHES
on Sale until
Dec. 24
Savings of 10% - 40%
egs
w_ `o`otgs
Goo
8/00 rebois
kejs
$50,000. worth of stock
to sell before Christmas
All priced to go
`*s
S°
v0'4
Yarn
*owlets
Plus Many More Items
RON'S HEALTH CENTRE
131 King St, Hensall
Page 14A
TimAs-Advocate, December 2, 1981
Income up by $550,000
Credit Union pay record dividend gate
Despite a turbulent year
which featured record high
interest rates, the Clinton
Community Credit Union,
which serves a wide area of
Huron County. is in good
shape and paid a record 11
per cent dividend on share
accounts.
That is the essence of the
message at the Credit
Union's Annual meeting last
week in Clinton. where 57
Legion hosts
Christmas party
The Hensall Branch of the
Canadian Legion and Ladies'
Auxiliary will hold their
annual Christmas party for
their families on Sunday,
December 5th at 2 p.m.
members were told that in-
come was up $550,00 from
last 'par to $3.508,048, most-
ly bec'k�utt$� of the record high
interest�htes on loans.
Becauk many members
moved money out of their
share accounts and into
guaranteed income cer-
tificates: the Credit Union
paid out a record $1,660,490
on those short term notes, an
increase of $540.00 over last
year. which meant their net
income for share accounts
dropped $250,000 to $838,819
in the fiscal year ending
September 30.
Jim Schnaar. a chartered
accountant with the auditing
firm of Ward Mallette, told
the members of the Credit
Union. which has a branch in
Exeter. was in sound finan-
cial shape. unlike some
other Unions in the province,
particularly in the Windsor
Chatham area, where no
dividends were paid.
Schnaar. in explaining the
audited statement, said the
Credit Union's overall assets
had grown by $989.000 to
$26.018.598 this year, but the
amount in share accounts
dropped $3 million, while
term deposits jumped $3.6
million.
With such a large amount
of term deposits, it made it
difficult for directors to es-
tablish interest rates on
loans.
The provisions for losses
on loans jumped $244,000
from • the $127.000 of last
year. partially because of
the poor economic con-
ditions and bankruptcies, but
mostly because of new rules
by the Ontario Deposit and
Share Corp., which requires
the Credit Union to put more
into a reserve account, even
though many of the
defaulted loans are collec-
table.
Chairman of the board,
Ernie Williams, reported
that except for a few dif-
ficulties. the switch to a ful-
ly computerized system
went smoothly last spring.
Williams also explained
the problems with Credit
Union Central which had
gabbed headlines in the dai-
ly media recently.He said it
was mainly a problem of
cash flow because Central
had most of their money tied
up in long term. low interest
yielding Hydro bonds, but as
the interest rate falls. the
problem will disappear.
Although total income and
loans to members set new
records, the total
membership slipped 230
from last year to 7,330 this
year.
A new member, Mason
Bailey of Blyth, was elected
to the board of directors In a
lively contested election,
replacing Milford Durst who
retired, and Antoine Garon
was re-elected for another
two year term.
Richard Lobb and Jim
Hunter were re-elected to
three year terms on the loan
committee, while Clifford
Parker was elected to a one
year term. Parker had been
appointed to the loan com-
mittee earlier this year to
replace the late Norman
Counter.
LODGE INSTALLATION — The installing team of Hensall Oddfellows Lodge is (back from lefts Cecil Pepper. Eric Mansfield,
Ross Sararos, Al Hoggorth, Jack Upshall, Jack Brintnell and Roy Pepper. (Front from left) Ernie Chipchose, Jim Rose, John
Moffat, Alex McBeath, Charles Hay and William Coleman.
IENSALI.
FON (HNISTM
A
Ir40
.11
• Lots Of Free Parking • Great Selection
• ,Small Town Friendly Service • Many In -Store Specials
"Most Stores Open Monday In December"
tit
6,4
Aitia
-b -
Men s Deluxe
Nary Nybn Parka 3499..
41,
CO-OP
Country
Jeans
pre -Washed
14 -oz.
boot -cut
style
1599
WORK CLOTHES
MADE TO BE
WORN AND WORN
Easy -care
Coverall
Heart' Colton
Duck Parka
3499rn
2395
Mach.ne-asn.dy paperer
Conon ser•d petrna Wass
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cur and re•rryced at pool's
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pockets Assorted $•/ IS
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lined Green
Wort Jacket LL
a..• . .• •s/PS Y 46
a,
WORK SHIRTS
AND PANTS
1295
Double reinforced work
pants of 60°° cotton 40°a
polyester Full cut
1195
Peursnent press work
shirt of durable 50°a cotton.
50°° botyester Button Ilap
pocErets S M. L XL
Steel Toe
Insulated C gg
Boots re.
Ka�tman r.O,k OGG'S l.SA
Miro-red Saler, roe and
sae Cheyenne :colour
S•res 6- 13'ro I2 121
549169
leather Top
Felt lined 99
Boot 25
Parr
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10% OFF
All Other Boots & Shoes
In Stock
1
Insulated ge
Work Shirt Each
sena Ue .non
c, 1,ester rest&
.^SutaTron and nyton'.n.ng
assld Math 2 trapped
breast pockets pearl
vp faslene'S 5 M l 61.
MEN'S
Suede & Courdoroy
VESTS 1399
Everyone welcome to shop CO-OP Quality Products Competitively Priced.
HEflSLL DISTRICT CO-OPERI1TIVE
HENSALL
262-3002
ZURICH BRUCEFIELD
236-4393 482-9823
.Es
Santa
Claus
will be
here
Dec. 3 - 4-6 p.m.
Dec. 4 - 7-9 p.m.
Dec. 5 - 2-4 p.m.
Hensall PRO Hardware
122 KING STREET
HENSALL — ONTARIO
262-2015
We have a good selection
of 20" and 26"
ELECTROHOME
Colour Televisions
All with 3 year warranty.
Check our prices before you buy!
HOURS Tues.. * Fri. 9-9 Sat. 9-5:00
Wed., Thurs. 9-6 CLOSED MONDAYS
Boatkron's
�fjjensall262-202
3
111101111:1111P IF IRIllr
INA iss•
%NBtGi/ to'.0121 Iallr4: ' S'
; 5995
and and trade
DRYER MDG 1150
Automatic and timed drying control along with
four cycles, three heat selections, interior drum
light, family size porcelain enamel drum, end of
cycle signal, and a front mounted lint collector,
5399a d trade
CHRISTMAS DRAW
Draw for approximately 15 Ib. Grade A turkey
every week until Christmas. One ticket for
every $100.00 purchase. Tickets remain for
every draw. You may be lucky. "Merry Christ-
mas". WINNER Of LAST WEEK'S DRAW
Mrs. Joyce Miller, Stella, Ont.
WASHER MWG 1150
SPIRALATOR agitator plus five cycles, five
wash/rinse temperature selections, three wash
and spin combinations, bleach dispenser, self
cleaning lint filter and an energy saving water
level control.
Moffat - Washers - Dryers - Ranges - Refrigerators
all at Special Prices while they last
Over 400 Appliances In Stock
Other Automatics From $399°3 & Trade
Drysdale Mujor Appliunce Centre
"The Place To Buy Appliances"
Hensall, Ontario
- We do our own service -
Phone 262-2728
Open Fridays till 9 p.m, Open Mondays in Dec.