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Show V the - F .ENTERPRISE ! CUs Continued from page The meaning of all this? The credit unions collectively have assets estimated at $500 million. Thats at least the asset equivalent of half the small banks in Utah, and more than all but two or three of the very largest banks, with First Security having assets of something over $2 billion. docs not become consumed, but rather, moves from credit union to credit union, used as necessary, then returned to the central bank for use by another credit union. Its like a little Fed, said one Salt Lake banker, referring to the Federal Reserve Bank, in which many banks participate. One goal of the Corporate Central Credit Union of Utah is to put together packages so we can sell them in the secondary mortgage market, said one credit union staffer. The smaller credit unions must now warehouse their money to make larger investments. They have to save it up. But the Corporate Central organization will provide a mutual pool. Dawson, seeking to avoid friction with the banking community over the new organization, emphasized the credit unions would not drop lines of credit with their existing banking connections. Pay no taxes The credit unions can sell money for less, because they pay no taxes. They pay more to depositors and charge less to borrowers, said the money man. More and more people are qualifying for credit' union membership. What began as a dim-agai- n credit union ship. he added. for JUST A NICKEL (50 A CUP I i Plus a Coffee Maker and Maintenance FREE Office and restaurant service with Hills Brothers and Yuban coffee at a quantity earned discount of up to 25Vfe over retail prices. And Imperial Coffee Service will equip your business with a one or two plate drip coffee maker free of charge. Service you can count on Call Ken at IMPERIAL COFFEE SERVICE 29 EAST KENSINGTON SALT LAKE CITY, UTAH 84115 PHONE member- tic isno (life ai6i!ann5isEro(ttiii!n!rc dil3feat5lTI?Bfe feelings stys-tem- f J .V j , a. .y 'A SHARON SHEPHERD Cl HI s r i ia ' Av V - ELUS HENDRICKSON y .Vr S. : ? S ' . t. VWT ... .. - r. OPEN: TUE$.FRI.1(V5:30 P.M. D SAT. & , MON.-CLOSE- 444 EAST 2nd SOUTH 61 mt (ana? f tunnci 0i0i,imaxgxy5i& Since credit unions carry significant amounts at some banks, bankers themselves about the new consortium. What else? We dont know where s electronic funds transfer mav take us, but we anticipate the new corporate central would serve in some said the capacity here, staffer. It is alrcadv known that some credit unions arc looking at the possibilities of offering MastcrCharge or Visa cards to members, and nationally, some 30 credit unions arc already offering them. Corporate Central could act as a clearing house for these transactions, as well as for share drafts. Currently, share drafts offered by credit unions arc cleared through the Salt Lake Clearing House Association, operated by eight Salt Lake banks. 486-23- ttn.ui um rayntiura dJHHUrnmn Ambivalent feelings have ambivalent 1 cooperative effort during the New Deal has become a trend that threatens banking, the last bastion of true capitalism, said another Salt Lake banker. It would hurt the banks in both checking and installment loan departments. Which takes one to the finale, as seen by the money man who looks out his window at the neon: What will happen is that money for business will slowly, almost imperceptibly, get tighter as the trend continues. It will be going to finance consumer loans you know, all that and boats, campers instead of investment loans for business expansion. That can continue only so long before business cannot expand and as a result cannot employ people, and unemployed people cannot qualify &mysSiR nisi i f 10 |