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About Portland observer. (Portland, Or.) 1970-current | View Entire Issue (April 29, 1992)
n. « * 4 i' U < \ W * * ” » ' « \ * W \ \ \ ’K * V *> ' Page 6...The Portland Observer...April 29, 1992 U.S. Bank Introduces ‘Cash Back’ Debit Card U.S. Bank introduced April 20th the region ’ s only “cash-back” debit card for convenience-craving customers who w ant plastic that draw s on money in the bank, not on credit. The new UBANK CHECK Card offers the convenience o f plastic and the fam iliarity o f a checking account, w ith the added incentive o f a 1 percent rebate for every purchase. U.S. B ank’s debit card provides tangible rew ards for the cost-conscious c o n s u m e r , a c c o rd in g to R ick C om andich, senior vice president and m anager o f convenience banking for U.S. Bank. "A s part o f a checking ac count, the U BA N K CHECK Card pro vides a convenient alternative to w rit ing a check or using a credit card,” he said. “In addition, w e’re alw ays look ing for ways to deliver consum er prod ucts and messages that em phasize the im portance of spending and saving wisely. By giving cash back for every purchase, our debit card gives people an attractive option to traditional plas tic.” Com andich added, “Customers can appreciate the UBANK C H E C K C ard’s versatility and cash rebate. It can be used to buy goods wherever VISA is accepted worldwide, to withdraw cash from an autom ated teller m achine (A TM ), and as a check guarantee card.” In addition to offering a 1 percent cash rebate for purchases, and being accepted at more than nine million VISA lo catio n s w o rld w id e, the U B A N K CHECK Card allows for: o couples with joint checking a c counts tocarry their own cards, avoiding the need to carry two check books or loose paper checks; o point-of-sale buying at retail o u t lets with the appropriate equipment; o cash machine transactions (the card is also an ATM card), including withdrawals, balance inquiries and trans fers, at any UBANK or other participat ing ATMs; and o over-the-counter cash at VISA member banks worldwide. Customers pay a monthly service fee o f $1.25 for the debit card. W ith the 1 percent rebate incentive, the service fee is offset if purchases reach $125 monthly, and any additional purchases above that amount generate money for the customer. The num ber o f debit cards in the United States is on the rise. During the past year, the number of V ISA debit cards issued increased by more than 21 percent, from 6.9 million in tirst quarter 1990 to 9 million in third quarter 1991. U.S. Bank of Oregon, Oregon ’ s larg est bank, is a subsidiary of U .S. Bancorp, the largest financial services company headquartered in the Pacific Northwest, with assets o f $ 18.9 billion as of March 31,1992. O ther U.S. Bancorp subsidiar ies include U.S. Bank o f W ashington and U.S. Bank of California. Expressions Contemporaneous Art Exhibit May 9 - June 3,1992 Paintings by Daniel Buswell and Jerry Quenton Shades of Color Gallery 316 N.E. Thompson St. Portland Hours: 12-6 p.m. Monday through Saturday A rtists’ Reception: Saturday, May 9 ,4 -7 p.m. For the first time, Shades of Color Gallery brings outstanding works by Jerry Quenton and Daniel Buswell. Quenton uses as many colors as possible to draw people to his work, using designs from African forms and his own experience. “I enjoy working with all mediums,” said Quenton. “L i noleum prints, acrylic, oil, charcoal and pastels all convey what I’m think ing and feeling.” A native of Idaho, Q uenton’s paint ings reflect the memory o f his home state and his exploration of African heritage. Buswell expresses the same pas sion for life and its diversity as do his paintings. “ I have always enjoyed study ing my environment,” he said. “W hether it’s a hot summer day or a cold wet dreary day, they all have their marvels and blessings. The way I use color and line is an expression of the enjoym ent I Health is Tio N ick’s, an adolescent day treatm ent center designed to meet the needs o f adolescents in North/Northeast Portland. Nick serves 15 em otionally disturbed boys and girls between the ages o f 13-17 and approximately 20 youth annually. Tio N ick’s is coopera tively administered by the Center for Community Mental Health and the C on tracts Program department of Portland Public Schools. Being under the public system enables the students atT io N ick’s to acquire accredited credits for transfer to transitional schools. Tio N ick’s offers a multidisciplinary curriculum that are presented through a daily schedule, that involves individu alized or small and large group settings. Students attend academic and treatment classes throughout the day. ©n site are tw o full-tim e teachers and a slot for half-time teachers from the school district, and are supported by social workers. The goal is to improve the students’ skills to return to regular school. W est One Bancorp and Yakima Valley Bank today announced the sign ing o f a definitive agreement under which W est One Bancorp will acquire Yakima Valley Bank. The agreement provides for an exchange o f common stock in which west One Bancorp would acquire all the outstanding com m on stock o f Yakima Valley Bank. The purchase price is $17.5 million plus the annual ized undistributed 1992 net income o f Yakima Valley Bank computed through the month-end preceding the actual closing date. The number o f shares o f W est One Bancorp’s common stock to be received by the shareholders o f Yakima Valley Bank will be determined by dividing the purchase price by the average m ar ket price for ten consecutive days end ing on the 20th trading day preceding the acquisition date. Based on an esti mate o f the purchase price of $18.4 million and on the number o f shares o f Yakima Valley Bank common stock outstanding, the price per share should approximate $108. The agreement has been approved x,_______ Z _______ ’ by the boards of directors of both com panies and is subject to approval o f Yakima Valley Bank’s shareholders and applicable regulatory authorities, com pletion of the transaction is ex pected in the Fall o f 1992. Y akim a Valley Bank is a four branch, $120 million asset institution serving the Yakima, W ashington area. “Expansion in W ashington state has long been a priority for W est O ne,” said Dan Nelson, W est One Bancorp chairm an and chief executive officer. “Our entry to the Yakima market by merging with Yakima Valley Bank gives us an opportunity to continue to build its operations by offering a wide array o f banking services in areas in cluding consumer, agriculture and small business lending, along with invest m ent services.” Doug Pringle, president and chief executive officer o f Yakima Valley Bank, said, “I have been aware of the W est One oranization for the last thirty years and I have a great respect for the company. Although we are very pleased with the growth and income perfor mance o f our bank, along with the quality o f services *e provide to our custom ers, we believe that a merger with W est One will provide expanded banking services for our custom er base and add additional banking facilities in the W ashington market for use by our custom ers.” O n a p ril 2 , 1992 W est O ne Bancorp entered intoadefinitive agree ment to acquire 38 branches, several business banking centers and two pri vate banking centers o f Security Pa cific Bank o f W ashington. The Secu rity Pacific branch facilities to be ac quired have approxim ately $1.3 bil lion in deposits and $800 m illion in loans. Com pletion o f these announced acquisitions in the state o f Washington will increase W est O n e’s banking op erations in that state ‘o over 50 bank ing facilities having approximately $1.8 billion in assets. W est O ne Bancorp is a regional bank holding com pany headquartered in Boise, Idaho, with $5.4 billion in assets and more than 150 offices and 3,600 employees in Washington, Idaho, Oregon and Utah. The IRS and Oregon State Establish Standards for CCCS to Help People Avoid Bankruptcy UNJONZAVENUE^ X GLASSTOMPANY; Continued from front page ' s ' --------------— Good news for the taxpayer who couldn’t pay their tax bills on April 15th. Both the Internal Revenue Ser vice (IRS) and the Oregon Department of Revenue are working with the non profit agency, Consum er Credit C oun seling Service (CCCS), to help CCCS counselors set up debt management plans to pay back taxes. The IRS will be training CCCS counselors next week on how to arrange installment plans for those who need help. The Oregon Department of R ev enue will also provide criteria to enable counselors to include state taxes in the debt m anagement plans. This specific arrangement with both the Federal and State tax authorities will enable CCCS to be more successful in working with their clients who owe back taxes as well as the usual bank, department store, and health bills. CCCS is a non-profit agency that helps people in financial trouble. O ffer ing free counseling, CCCS counselors work with their clients to create a w ork able budget. W hen necessary, CCCS will negotiate with creditors to take smaller payments over a longer period of time. Some m ajor creditors waive interest charges when accounts are paid through CCCS. CCCS is the only viable alternative to filing for bankruptcy, a blemish than can remain on one’s credit record for up to ten years. CCCS has been serving the com munity for nearly 25 years and has o ffic e s in P o r tla n d , B e a v e rto n , Gresham, Oregon City, McM innville, The Dalles, Vancouver, and Longview. LORRAINE HLAVINKA All Types of Auto Plate and Window Glass Storm Doors and Windows 4709 NE Martin Luther King, Jr. Blvd Portland, Oregon 97211 Woman-Owned Phone 249-5886 Persian Folkloric Paintings BY AHMAD SABAHI The IFCC (Interstate Firehouse Culture Center) Gallery is pleased to present Persian Folkloric Paintings by Ahmad Sabahi, May 2-24,1 9 9 2 , at the Interstate Firehouse Cultural Center (5340 North Interstate Avenue), Port land, Oregon. This exhibition of Persian folk loric paintings features recent works by Ahmad Sabahi based upon popular eth nic lore and literature. In the painting “Rostam and Div,” Sabahi has tackled the old theme o f good vs. evil in m onu mental form and bold rhythmic lines. O ther paintings such as “The Mystic Singers” and “ Dance” captures the pat terns of culture in both its traditional and contem porary forms. “The Mystic Singers” is rem iniscent of a painting found in an illustrated Persian m anu script where the images are literally read through its symbols. In “ Dance,” Sabahi p ortrays tw o contem porary w o m en -o n e combing her h air-su b tly conveying the pow er o f ritual or, in essence, “ living culture” through the m etaphors of poetic verse. An im m igrant from Tehran, Iran, Mr. Sabahi discovered his ability and love for drawing as a child. As a young teenager, he developed his skill as a portrait painter, then pursued formal training at the School o f Fine Arts at the University of Tehran, Iran in 1948. After graduation, Sabahi worked as a portrait painter and high school art teacher. In 1962, Mr. Sabahi came to the United States to study architecture. A m em ber of the American Institute of A rchitects since 1976, Mr. Sabahi re cently retired from architecture in 1992. He is presently devoted to his pursuit o f the fine arts. The IFCC invites the public to meet the artist at an opening reception on May 2nd, Saturday afternoon (3:00 p.m .-5:00 p.m.). Nobody Does it Better for Less SAFEWAY Ad Prices Good April 29 through May 5,1992 At Safeway. Fresh Sw eet Corn First of the season tender sweet corn from sunny California. Enjoy with juicy BBQ chicken and your favorite side dishes! Ears Look In The This Week Magazine for your Safeway Shopping Guide for a complete list of specials on sale this week at Safeway! — -____.___ _ W * rv > x > West One Bancorp To Acquire Yakima Valley Bank find in life.” Bom on the Standing Rock R eser vation in South Dakota, Buswell has been a resident o f Portland since 1979. Center for Community Mental Health regard to substance abuse treatment. The C enter for Com m unity Mental Health responded to a request for pro posal and was warded the contract. PCR provides an array o f services autonomously and in joint partnership with other agencies. PCR is located at 3525 N.E. Martin Luther King Jr. Blvd. and provides outpatient treatm ent for drug and alcohol abuse. PCR, in con junction with DePaul’sresidential treat ment, provides 11 beds annually for clients o f PCR. Another com ponent in which two other agencies participate with PCR is a program for those ju st released from the facilities operated by the D epart ment o f Corrections. PCR provides the outpatient counseling, Stay Clean, Inc. provides case management, and Treat ment A lternatives to Street Crim es (TASC) provides urinalysis. PCR is also responsible for a treatm ent service satellite program at Colum bia Villa. The fourth program operated by the C enter for C om m unity M ental t> w-V* ’«-’» a X * -w a * * < **”* * * « V c * * « . 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