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T Ug Lumber Merchants Associ-

I ation prepares to provide a new service for employees. As an addition to the benefits package for employees working in the building materials industry, the association is in the process of establishing a Building Materials Employees Federal Credit Union.

Over the past four years, employees and dealers have asked if there was a way to set up a credit union for employees in the building material industry. The cry to provide this service increased and a survev indicated an overwhelming acceptance.

After investigation and review of federal regulations it was learned that it was possible to establish a credit union for our employees. A meeting was held in the LMA offices on September 19, at which time Gordon Knott, Yosemite Lumber Co., Fresno was elected president. The board of directors, supervisory committee and credit committee were elected to complete the officers and governing body of the credit union.

All documentation is being forwarded to the National Credit Union Administration for review and approval. If federal approval is granted it is hoped that all administrative details will be completed and the credit union will begin activities around January 1, 1978.

The value of credit unions is well recognized and currently there is little opportunity for employees of our industry to participate in the savings and loan benefits found- in a credit union. With the formation of this credit union a first will be achieved in our industry since no other association has established a credit union.

When the credit union is in operation each dealer will be contacted to arrange for a meeting with employees to explain the benefits and solicit their participation. The credit union will be able to accept funds from corporations but will be unable to loan to corporations. Corporation deposits will earn the same interest rate as will be paid to individual accounts.

The credit union will be able to assist employers in providing a means of employee benefits. Many firms have a profit sharing plan or provide a bonus for a job well done. Employers can now provide employees with a number of shares in the credit union rather than direct cash. This will encourage employees to retain some sort of savings and at the same time provide employers with an additional tool in employee benefits management.

The assocation as well as industry employees are excited about this new concept in association services. A credit union has the ability to provide service to the employee and the employer.

Fighting Federal Paperwork

If you're fed up with the feds and all their (+"$V&ll) forms and red tape, call the Commission on Federal Paperwork on their toll free number Mon.-Fri. 8 a.m. - 8 p.m. E.S.T. Number is (800) 424-8982. Supposedly they will lend a helping hand and a sympathetic ear.

PONDEROSA PINE

SUGAR PINE

INCENSE CEDAR

DOUGLAS FIR

WHITE FIR

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