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Show ffF The S.lt Lake Tribune Sunday, May 5, 1 Millstream Success Began With Bold Ad Campaign 385 Business Portrait Credit Unions Better, Says League Leader ; $39,000 to $68,000. The concept acknowledged the realities of the time. There were a lot of divorced people, no longer in need of a large home, but now in need of two smaller, but more efficient, quarters And there were a lot of single women the product of womens rights g who were hitting the market for the first time. San Francisco also was testimony to the fact: Small does not equal poverty. Residential units with efficient space arrangements and group amenities two swimming pools and eight tennis courts are quite adequate for the of an airline pilot or an needs basing executive secretary. toured the models thousand Eight One on the first weekend in hundred nine units were sold in the first seven days. Millstream and San Francisco earned an award of merit in the smaller is smarter category of Professional Builder Magazine. In its comments, Professional Builder noted that the annual income reeded to qualify ranged from $14,000 to $26,000. The average age of the buyer was 34.5 years. In its advertising, Millstream pushed the low cost of ownership: How can I afford San Francisco? asked the professional young lady in the ad. Ill bet my home investment is lower than your monthly rent. An ad for the second phase showed a handsome young urban professional type saying, Just because Im single doesnt mean I cant own my own home. The day a builder can simply wait for customer to show up is long over, says Mr. Harmer. Marketing is absolutely essential. Media purchases now account for upwards of 5 percent of Millstream revenues, says David Tolman, a 1974 U. political science graduate, who bits. After high school he served four years in the U S. Navy. I spent most of the time in Southeast Asia. After four years I decided there was a better way to make a living I got out in He met Paula Schmitz while attending a cousins graduation from Brigham Young University. They were married in 1970 and now have four children three boys ages 13, 11 and 6 and a daughter. Attended College Once out of the Navy, Mr. Sullivan began attending college, first at the University of Nevada at Las Vegas. It was, however, not until about 1978 that he officially received his degree in business administration from Weber State College. He said college dragged on because he often needed to work either part or full time as financial needs dictated. My wife says it took 14 years for me to get through college and thats about right, he said. In 1974, Mr. Sullivan went to work Utah is a good credit union state, Mr. Sullivan said, with one out of every two adults a credit union member. The Utah Credit Union League represents 236 credit unions statewide. Self Help Organization' Credit unions are the epitome of a self-hel- p organization in which people cooperate and work together ;for their common good. They deal almost exclusively in making consumer loans and the money they lend is money that has been deposited by members. 'Though he was only named president of the Utah Credit Union League Feb. 11, for the six previous years he served as the organizations vice president. I wasnt too concerned about taking over the responsibilities of league president because I knew what was involved, he said. Although there are some very long days required, I saw it more as an opportunity to serve. Mr. Sullivan said the spirit of service is widespread within credit unions. Statewide there is a volunteer contingent of between 2,500 and 4,000 d credit union volunteers, serving for instance as members of credit and supervisory committees. , uf' Spirit of Cooperaton 'It is that spirit of cooperation that has allowed credit unions to survive and prosper in an intensively competitive environment, Mr. Sullivan said. If credit unions didnt have volunteers our competition would squash us like an ant, he said. Trtbpne Staff Photo Dy Frank Porschatis Charles W. Sullivan believes that credit unions are better than banks due to the involvement of members' self-help. able but after I go out and ride my horse for an hour in the evening I usually feel just great afterwards. Mr. Sullivan said credit unions have been evolving rapidly over the past several years and have been offering a growing variety of services to their members. We have the full range of credit unions in Utah from the plain vanilla credit unions that offer just consumer loans to ones that City Councilman He has served as a city councilman for the City of South Weber and is a past director of the North Davis Chamber of Commerce Associa. on, Though he said he no longer hunts he is an avid runner. He has has only been running seriously for the past six or seven months but is presently training to run in his first race, the St. George Marathon. A dog trainer, Mr. Sullivan said he le Born in Las Vegas, van said his family moved from that area when he was 6. He spent most of his youth in the Spokane, Wash., area. "We lived pretty much out in the country and I had to take the bus to school. Since we lived so far away I didn't really have the opportunity to participate in sports. He said he re N.M., Mr. Sulli- raises and trains doberman pinchers at his home in South Weber. Theyre a dog that doesnt deserve the reputation they 1 ave, he said. He also keeps a horse on his property. My wife accuses me of going out in the evening and kissing my horse before I kiss her. Actually, I can have the worst day or week imagin- - offer share draft accounts, IRAs and certificates of deposit. Though Utahs credit unions combined have total assets of only about $1.5 billion, he said they will continue to grow and evolve in the coming years. The future of credit unions will be governed by what the members want and need. In the end they are the ones who will determine what services will be offered. Harmer that the intrinsic economies of condominium and multifamily residential structures would be the answer to the higher costs of construction and mortgage money. And it was clear, too, he said, that builders could no longer rely on inflation to cover the carrying costs of unsold merchandise. That called for imaginative marketing. In June 1984 the firm kicked off its $85,000 to $100, Spring Lane S. 1500 East in 5000 at Development 000-pl- Holladay. Spring Lane was the beginning of a connected trend from decondominiums to lower-densit- y velopments and unattached structures that offered some of the amenities of single-famil- y housing. More than 6,000 toured the project on the opening weekend last June. By September, 53 of 80 planned units had high-densi- been sold. Spring Lane also got the attention of Professional Builder Magazine as being among 16 top condominium de- Study Shows Salary Gender Gap Begins When Students Make Education Choices League. non-pai- savings. Passbook savings then accounted for, by far, the bulk of deposits in savings and loans. When Regulation Q was gone, so was cheap construction finance and mortgage money. It was a clear message to Mr. mid-198- for Commercial Security Bank, where he served as director of training and manager of placement and personnel development. When I took the job with Commercial Security I had one paper to write foi a management class before I could graduate. I didnt get around to finishing it and getting my degree until four or five years later. Mr. Sullivan said after he left Commercial Security Bank he became manager of training and personnel development for the Federal Employees Credit Uion, the 24th largest credit union in the nation. From there he joined the Utah Credit Union single-- home-buyin- 1968. self-hel- That means merchandising and marketing now run nearly a million dollars yearly. Mr. Harmer had ventured in housing construction befamily fore Millstream was formed. He remembers vividly, however, a conversation with then Prudential Federal Savings & Loan Association Senior Vice President Hayden M. Calvert, now head of his own firm, Calvert Mortgage Co. Mr. Calvert had told him the day of housing mortgage financing was soon to end with the termination of Regulation Q. Regulation Q, a measure of nearly 50 years standing, had artificially restrained interest required to be paid by financial institutions on passbook 199-un- it members most sitting on the banks of the Spokane River with his dog and gun. He hunted mostly ducks and rab- On the surface credit unions might not seem like overly glamorous financial institutions, according to Charles W. Sullivan, but the closer you look at them the more fascinating they become. Mr. Sullivan is the president of the Utah Credit Union League and his enthusiasm for credit unions, which he calls the ultimate in democracy, is more than apparent. Banks are OK, but credit unions are better, said Mr. Sullivan. Credit p unions are organizations and unlike banks where a few wealthy investors reap all the profits, the profits a credit union generates go to its members. now heads Millstreams advertising and marketing programs. Continued From F-- l South and 1300 West and started San Francisco" a community of Victorian townhouses priced from - NEW YORK (UPI) The gender gap in salaries often begins with early career choices, a study of the gender differential among recent college graduates indicates. Using data from the National Longitudinal Studies of the High School Class of 1972, Temple University professors Paul J. Andrisani and Thomas N. Daymont found that the young men and women in the sample tended to indicate a preference for different occupational roles while still in high school. In college, they also chose different majors according to their sex. Taken together, these differences d accounted for to of the gender gap in hourly earnings three years after graduation from college. When asked to identify what was most important in choosing a career, the male high school seniors ranked making a lot of money and being a leader as high priorities. Women were more likely to emphasize the importance of working with people and of being helpful to others or to society. In college, men were more likely to in business, engineering, law and medicine, while women more often opted for majors in the humanities, health or biology, and education. two-thir- one-thir- velopments from among 282 projects considered across the nation. Still later in September, the company opened its first apartment venture, Vinegate, at 6150 S. 1300 East 138 units built for possible conversion to condominiums. Under development: The Villages of Normandy, a major $95,000 to $150,000 ment at 4700 S. 1300 develop- East, with single-levunattached structures akin to traditional housing including both fenced front and back yards to accommodate children. it Cross Pointe, a development at 4500 W. 5400 South. The two members of Temple's School of Business Administration faculty believe their study underscores the fact that where you start out has a lot to do with where you end el . 400-un- up. BMA 108-un- it Salutes Award-Winnin- g At Knutson, its easy to secure a great Salt Lake City Agency Associates For outstanding achievements in growth, manpower development and overall service to personal insurance needs during 1984, the Salt Lake City Agency, under the direction of Kent O. Hansen, General Manager, has earned the company's prestigious Award of excellence. mortgage rate. In winning this coveted award, these agents have helped guarantee their clients' future financial security with BMA life and health insurance. You can count on these award-winninagents to serve your personal and business insurance needs in an award-winninstyle. g g In Salt Lake City: Union Park Center 6925 S. 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