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Show Prudential Federal Savings to open Cedar City branch in June Later this month, Prudential Federal Savings and Loan Association As-sociation will open a branch office in Cedar City. After an Intensive study of the area late in 1971, an application wag filed with the Federal Home Loan Bank on October 31, 1971 and . aproval was granted on May 2, 1972, according ac-cording to Gene Donovan, Chairman of the Board of Directors Di-rectors and President of the Intermountain West's largest savings Institution. "Our studies showed that southern Utah needs a major Insured savings and loan association as-sociation whose mortgage lending would aid materially In the commercial and residential resi-dential real estate development develop-ment of southern Utah," Mr. j, J( a dip n"1"" n .:ii'TnrWfljiili l'ffflljytafc ' ' i'i' v mffl XM Mm GENE DONOVAN President and Chairman of the Board, Prudential Federal Savings. Donovan said. "In addition, Lie auracuveness of insured savings accounts would be beneficial to most families in the area. These facts lead to our decision to provide a branch facility at the earliest possible date." Prudential Federal Savings, founded in 1916, is one of the 100 largest savings and loan associations in the United States. Main offices are in Salt Lake City. Other cities served by Prudential include Ogden, Provo, Tooele, Utah, and Butte, Montana. Assets of the association now exceed $300,000,000 and reserves are over $17,000,000, far in excess of those required by supervisory authorities. The new Cedar City office of Prudential will be located at 60 West Center Street. Remodeling Re-modeling is now under way and the expected opening date is Monday, June 26th, Mr. Donovan added. |