area news
july10
6 2012
Wauna FCU and St. Helens Community FCU Begin Merger Discussions
The boards of directors for
both Wauna Federal Credit Union and
St. Helens Community Federal Credit
Union have signed a non-binding
Letter of Intent to explore the benefits
associated with merging the two credit
unions.
“Officials
from
both
organizations are committed to do what
is right for their membership and the
communities they serve,” reports Robert
Blumberg, CEO & President of Wauna
Federal Credit Union. “Key factors to
these discussions include the impact
that the economy and competition has
for credit unions of our asset size, plus
both credit unions share a common
heritage and serve local communities.
A merger would produce greater
efficiencies, support needed technology
advancements, and joining forces
would create an even stronger and local
organization with roots to the members
and communities it serves.”
Lea Chitwood, Chairperson for
the SHCFCU board of directors, also
stressed the importance for members and
the public to understand that a merger
such as this is completely different
than mergers between the mega-banks.
“Their reason to merge is to generate
more profits and with no consideration
to their customers. When credit unions
merge, it is the membership that benefits
because we are not-for-profit. Any
monetary considerations from a credit
union merger go directly to the members
in the form of better savings and loan
rates, and the opportunity to provide
more services.”
Added Blumberg “It’s important
to understand that at this time our merger
discussions between the two credit
unions are completely exploratory.
If these discussions prove mutually
beneficial, then we will advance to
the next stage in what is a very formal
process required by the National Credit
Union Administration, an independent
agency of the federal government.”
“If the discussions suggest there
are no benefits to a merger, both credit
unions will continue business as usual,”
added Chitwood.
According to Chitwood and
Blumberg, the employees and officials of
both Credit Unions have been informed
of the discussions, and both credit unions
will keep their members informed of any
new developments.
Oregon College Savings Plan
P.E.O. Awards
Brings Penny’s Puppets to Vernonia Library Scholarships
In an effort to encourage
children to visit their local library
during the summer months, the
Oregon College Savings Plan is
bringing beloved puppeteer Penny
Walter to Vernonia Public Library at
701 Weed Ave in Vernonia. Walter
will share her puppet show on July
18 at 6:30 PM.
Penny’s Puppets is an
imaginative show that takes the
audience on a magical, musical
journey packed full of comedy,
laughter and audience participation,
blurring
the
boundaries between
fantasy and reality
to create a fun make-
believe world where
anything can happen
and usually does.
T
h
e
performance is part
of THINK BIG
Save for College, a
statewide campaign
designed to promote
Oregon public libraries’ summer
reading programs. As part of its
sponsorship, the Oregon College
Savings Plan is underwriting a
series of free special performances
in libraries in communities with
a population of 10,000 or less to
engage and motivate young readers,
while helping these smaller libraries
drive traffic and encourage summer
reading.
While at the libraries
enjoying the performances, parents
are encouraged to pick up an entry
form for THINK BIG Save for
College, which encourages kids and
Terry’s
Gym
teens to participate in their local
library’s summer reading program as
a fun way to maintain their reading
skills and prepare for the coming
school year during summer break.
Parents fill out the entry form for
a chance to win a $1,000 Oregon
College Savings Plan account
for their children. A total of 15
winners, three from each Oregon
congressional district, will be selected
in a random drawing. Every library
with a winning child will also receive
$500. The program is a partnership
between the Oregon College Savings
Plan, the Oregon State Library and
the Oregon Library Association.
THINK BIG Save for
College kicked off June 1 across the
state and continues through August
31. Last year, nearly 162,000 children
and teens statewide participated
in the summer reading programs
offered at public libraries throughout
Oregon, reading more than 165,000
books and 678,000 pages, according
to the Oregon State Library.
To participate in THINK
BIG Save for College, Oregon
parents/guardians/grandparents
must first enroll their children in
the 2012 Summer Reading Program
at their local public library, then
fill out a postage-paid entry card,
available at the library, and drop
it in the mail, or enter online
at OregonCollegeSavings.com All
entries must be postmarked by
August 31 and received by Sept.
7. Multnomah County Library
patrons must enter online by August
31 at OregonCollegeSavings.com.
Visit OregonCollegeSavings.com for
official rules and prize
details. No purchase
necessary. Void where
prohibited. Sponsored
by the Oregon College
Savings Plan.
About The Oregon
College Savings Plan
The Oregon College
Savings Plan, is part
of the Oregon 529
College
Savings
Network, launched in January 2001
and has grown to more than $750
million in assets as of March 30,
2012. An account can be opened
for as little as $25 or $15 per pay
period by payroll deduction. For
more information about the Oregon
College Savings Plan, its investment
options and how to enroll,
visit OregonCollegeSavings.com or
call toll free 866-772-8464.
The Oregon College Savings
Plan is administered by the State
of Oregon. TIAA-CREF Tuition
Financing, Inc., is the plan manager.
Three recent graduates from Vernonia
High School received scholarships from P.E.O.
Two were awarded by the local chapter to Seniors
Alyssa Loggins and Kelly Smith. The Ida Loyd
Walrod memorial scholarship, which is given to
a graduating senior in a county-wide competition,
was won this year by Natalie Wallace.
In addition, during the past few months,
P.E.O. scholarships were awarded to Tonya Clark
and Souvanny Miller. These grants were awarded
by P.E.O foundations in our state, to support them
in their ongoing studies.
P.E.O. is proud of the “success stories”
that occur by virtue of the hard work and
determination of the recipients. Marissa Clement
recently received a Bachelor of Science Degree
from the University of Portland, graduating in
Life Science with a Minor in Psychology. She
was a P.E.O. scholarship recipient four years ago.
Kelly Martinez has recently graduated
with a BS in Education, and has been working in
Vernonia, substituting at the elementary school,
serving in many classroom situations. Kelly is one
of those “returning” students, having received a
degree from Pacific University a decade or so ago.
Her present degree was attained mostly online-
-she did her practice teaching here in Vernonia.
At present, she is continuing her studies, working
toward a master’s degree in Education. Her long-
term goal is to teach at the middle school level in
Special Education.
The local P.E.O. chapter is a small
part of a huge international philanthropic
organization, sharing a goal to help women meet
their educational needs. This includes support
for high school graduates as well as women
who return to college to further their education.
Locally, this effort is supported by various fund-
raising events, the largest of which is the annual
Christmas Bazaar; All those fragrant wreaths
that are sold at the bazaar contribute greatly to
P.E.O’s educational fund.
VERNONIA
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I
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& RE
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