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Show THE WEST MOUNTAIN TIMES, DECEMBER 31, 1981. PAGE THREE Because of the holidays, the center section of this weeks newspaper will feature numerous general articles for your entertainment which are syndicated by Allied Press International for The General Store. The West Mountain Times hopes you enjoy reading them and wishes you ihe joyous of holiday seasons. Debit or Credit Moneys Future Is Plastic Quickly accessing bank accounts and transferring funds is on the way As a result, many consumers can't get year's credit curbs and bank fees and restrictions, look for the increased use of the debit card. newly-impos- ed Debit card? Think of it as an electronic check. Unlike a credit card, which postpones payment, the debit card transfers money from your account for payment, sometimes immediately. The debit card is just one way to use what today is called EFT, or electronic fund transfer systems. Nancy H. Teeters, a member of the board of governors of the Federal Reserve System, sees it as the coming new wave. Not that credit card buying is dead, by any means. More than 6$ million Americans own VISA bank cards and 55.7 'million own MasterCard bank cards, the vast majority of them credit cards. Only six years ago, credit card debt was SIS million; today it is up to $57 billion. But what had been a dramatic annual increase in credit card use got a jolt last year when the Federal Reserve Board issued credit curbs in March of 1980. In reaction, banks and department stores began increasing fees for cards, cut back on the amount of lines of credit and stopped issuing the cards. The cutbacks linger today. Performance AjjBay credit cards or are discouraged from seeking them. Many of those who hold the cards aren't using them or they are paying off the balance within the y grace period, before the Finance charges come due. as long as he follows certain prescribed procedures. Governor Teeters of the Federal Reserve Board has said she thinks "the world is going a different way" from buying on credit. "I think we are going into electronic funds transfer, and that your VISA card or your MasterCard or all the rest of them will not be credit cards' per se, but they will be debit cards and they will access a person's account directly." potion The technology is already here. For example, banks all over the country have automated teller machines. The consumer inserts a plastic debit or EFT card into the machine, then using a code often called a personal identification number, or PIN, authorizes a debit or credit of his account. 30-da- Theoretically, into the gap comes the debit card. A VISA spokesman maintains that the debit card idea, slow to get off the ground since its inception about five years ago, has "taken off" in the last year. He says 1 .4 million cardholders had VISA debit cards by the end of last year, with 200 banks now issuing the cards. The Interbank Card Association, which controls the MasterCard trademark, began marketing a new debit card last September and claims it is catching financial on "like wildfire." Sixty-fou- r institutions have signed up to issue the "On the horizon are national automated teller machines networks." debit card so far although no cardholder figures are yet available on the new card. Russell Hogg, president of Interbank, said recently that MasterCard debit cards have the potential to pull ahead of credit "The merchant can't lose with a debit card" cards in five years or more. He noted that 50 percent of MasterCard holders pay their bills on a current basis. To the modern "credit junkie." the credit card makes perfect sense. You can enjoy now, pay later. Or you can simply buy time to decide whether to pay all or some of your balance now or later. But the debit card? What's the advantage? Besides the fact that it may be easier to get a debit card than a credit card ("All you have to do is have money in the bank," says a MasterCard spokesman), and nearly everybody seems to desire some plastic identification today, the advantage is simply convenience. There are some debit cards today that also act as credit cards once you debit more than you have deposited. A line of credit is authorized which, once you withdraw more than is in your account, automatically gives you more. Some stores in the country have point of sales terminals" which instantaneously debit your bank account when you use your debit card. On the horizon are national automated teller machines networks which will allow you to withdraw money from your bank in Chicago, say, at 4 oclock in the morning by inserting a card in a bank Even though the debit card transaction means pay now, the consumer doesn't have to carry around cash, and can avoid the hassle often experienced when trying to pay w ith a personal check. Try buying something with a personal check in a place that is not your hometown. And with increased bad check risks, even cashing a personal check in your ow n city can be difficult. The VISA or MasterCard debt cards like their credit cards arc accepted by three and a half to four million merchants around the world. The merchant cant lose with a debit card as he can with a bad check machine in Los Angeles. With all this convenience comes potential problems. For example, on lost or stolen credits cards, y our loss is limited to $50 per card. On an EFT card, your liability for unauthorized withdrawals is also limited to $50. but only if you notify the bank within two business days after learning of the loss or theft of your card or code. You could lose as much as $500 if you don't notify the bank within two business days. And, if you're one of those people who rarely looks at a bank statement, watch out. If you do not report an unauthorized withdrawal that appears on your statement w ithin 60 days after the statement is mailed to you, you risk unlimited loss on y transfers made after the period. What that means is you can lose all the money in your account plus, if you have a credit-typ- e card, your maximum overdraft line of credit. 60-da- These warnings are contained in the Electronic Funds Transfer Act and Regular E of the Federal Reserve Board issued to carry out the act. An explanation of how to protect yourself against theft, loss or computer errors under the law is found in the free booklet, "Alice in from the Consuavailable Debitland," mer Information Center, Department C, Pueblo. Colo. 81009. You will also learn that a financial institution can send you an EFT card that is valid for use" only if you ask for one. They can send you, unsolicited by you. a card marked not valid for use." Such a card can be validated only at your request and only after the institution verifies that you are the person whose name is on the PLEASE TURN TO PAGE 4 not politics No matter bow small the office, politics More importantly, however, is whether or not office politics affects la present. your attitude and performance. Nothing can put you at the precipice faster than trying to align yourself with specific views and then trying to push those views at the expense of others. While you may gain some temporary advantage, in the end you may lose, because every office has its political cycles. One view or personality may predominate for a while then fade. Promotions, transfers, terminations and resignations all insurethat the office atmosphere will change somewhat and, in many cases, change radically. The most important part of your job is your performance. You gain recognition and respect through performance. Moreover, that's how you secure significant salary increases. If you're not performing, playing politics might extend your job time; but in the end, you will be evaluated on how well you do your job. Focus on improving your skills, developing professional business relationships, creating a positive, "can-do- " attitude and displaying loyalty to the company. These are the cornerstones of job performa nee thelastingvaluesany working professional needs to have in order to rise above office politics and to succeed. The Ultimate Hamburger" Start by buying fresh" ground round or sirloin. Mix 'A cup of whole milk into each pound of meat used. Season each side of every patty with Morton and Lawry's seasoning salts and grated romano cheese. Bake, barheque or fry. When the hamburger is about done treat to your taste w ith teriyaki sauce, but don't be bashful about how much you use. The teriyaki sauce will blend nicely with the meat and ooo What does your performance review mean? Plenty It's your company's record of your performance, and as long as you stay w ith your present employer, its your ticket to more pay and better opportunities If you don't agree with with your performance review, talk to your immediate supervisor. Discuss why you dont agree and present some "examples" If you generalize you won't effectively communicate your viewpoint. Dont make comparisons! Be specific about your own performance. Positive images can change judgments and move supervisors to be more careful with your next review or evaluation. You should also keep in mind that your supervisor can err in judging your overall worth and performance, so be prepared to be diplomatic, calm and understanding. A little smile, a relaxed demeanor and a positive aura will help dissipate any tension, which can block communication. Yet dont be timid. No matter what job you do, you have the right to express yourself, the right to explain your situation. seasonings. If you happen to use a kettle to barbeque, be sure to "smoke" the hamburger for additional flavoring. And in place of the teriyaki sauce, you can use the barbeque sauce of your choice. Serve and enjoy a moist, tasty "ultimate" hamburger. A news newspaper. THE WEST MOUNTAIN TIMES Self defense made easier Automatic Trap for Catching Cockroach (PAT. 4.266.163). The new patent by Chang C. Chen of Taipei Hsien, Taiwan may be just what everyone has been waiting for! between said collection room and said trapping house, an electric current reversing switch located substantially toward the rear of saidtrapping house operatively connected to reverse operation of said motor. Chang's invention is protected for 17 years by the patent in case anyone gets a notion to copy it. And. if you're pretty well caught upon stockpiling equipment for the great land invasion, you might give some forethought to a flanking maneuver by sea. John C. Phillips and Michael D.Nobclof Phoenix. Ariz. have taken out a patent on an Underwater Firearm (4.266.358). It looks like a pregnant .45 and fires a projectile" of unknown caliber, which resembles a Subscriptions only $8 a year. . e r r IV 7 jfy t? THE WEST MOUNTAIN TIMES BEGINS A NEW ERA IN NEWSPAPER COVERAGE AND ADVERTISING IN THREE COMMUNITIES. SERVING KEARNS, WEST VALLEY CITY, AND MAGNA. To start your subscription, call 966-44- (right now, before you forget.) Or clip and mail this coupon. 44 mini-torped- o. It it described in the Official Gazette of the patent office as follows: An automatic tra p for catching g cockroach comprising a a first ...and second dutch pulley... a transmission gear... a motor... a trapping mechanism. . .a trapping house... (and) an entrance to said trapping house. . .a collecting room extending from said rear opening of said trapping house, a turning plate located for closing said rear opening trans-includin- For the ultimate emergency, there is the Multiple Unit Flare Launcher (4.266,357) invented by John M. Greenleaf of Jericho, N.Y. A multiple signal unit launcher comprising a plurality of signal units 4 positioned in side by side array, and communicating at their lower ends with a common slot, single unit firing means positioned beneath said slot and said units, slide means for mov ing said firing means from adjacent one unit to the next and complementary cam and cam follower means engaged with each other for guiding said firing meant and for activating the tame for firing each unit separately. WEST MOUNTAIN TIMES Saving v.iwy Q'ty M.gn. od YES! Start my subscription by mail immediately for our new, community newspaper, the West Mountain Times. It s a bargain I can 7 refuse. enclosing S8.00 am Addreea for a full years subscription. Cl,y S,a' Zip Bill me. MAIL TO: WEST MOUNTAIN TIMES. 4140 West 5415 South, Kearna, UT 54118 |
