»—THE MILL CITY ENTERPRISE
THURSDAY, APRIL 23. 1959
New Personal
Financing Plan
Offered by Bank
All classrooms in the school were
I open for visitation following the
program in the gymnasium. Some of
the current classroom work and pro­
jects of the students were on display
for the inspection of all those inter­
ested.
By Rodney Schaer
Of especial interest to many was
An enthusiastic audience attended the “Rocket” in Mr. Thorpe’s eighth
The Santiam Wolverine thinclads
the annual “Open House” program in grade room which recently won a first I ed a field of 12 schools to win the
prize
in
the
Science
Fair
at
Scio
for
the Mill City Elementary School gym­
me-'t at OSD Friday with 90 points. I
nasium Thursday evening, April 16. ¡Carl Hall Kelly and Rusty Whitten St. Paul took second with 68. Th*,
Numbers on the program were as fol­ who constructed it. The model was to McLaren Hawks tied for third with
be taken to Portland on Saturday and i OSD. followed by Falls City with
lows:
"Patrol Leader,” Elementary Band, put on display at the Oregon Museum 15. Jefferson 35, Perrydale 30, Val-
directed by Earl W. Loucks; “The of Science and Industry as part of the ■tetz 25, Colton 14, St. Boniface 9.
Little Red Hen," a dramatized song Northwest Science Exposition, feat­ I Siletz 6, and Chemawa with 3.
by first grade children, directed by uring the works of the winning 60'*
Tom Fencl took first place in the
Mary E. Brent; “Bugle Boy.” by the students from 22 regional science «hot put and second in the discus.
Band; “Fussy Old Maids from Lynn,” fairs held in the Oregon-Washington Ron Kuhlman was high point man of
a vocal trio, Kathy Boroughs, Mich- area. Judging was to be done by 48 the meet with 24 points, although ha
eale Hayes, and Karen Meader, di­ scientists and educators, who would took no firsts.
rected by Helen S. Fowler; “Be- j pick the displays that would Win
Other Wolverine cinder pounders
guine," by a flut trio, Shirley Veness, magazine subscriptions and college were Dorman Gregory. Bob Boroughs,'
Rozillah Yankus, and John Kelly; and scholarships for their creators.
l-arry Kanoff, Jerry Tucker, Jamie
three numbers, “M a k e " America I Another exhibit, winning a second Baughman, Ia>u Morgan and Jerry
, Proud," “Hymn of Brotherhood," and prize at the Sico Science Fair, was a Johnson.
“Awake, Tis Spring,” by the Elemen­ radio constructed by "Butch" Harris
tary Chorus, directed by Doris M. and Shirley Veness, with two other
Sheythe. with Alice M, Smith as entries from the same class receiv­
SI BS< KIBE TO THE MILL CITY
ing honorable mention.
pianist.
*
ENTERPRISE TODAY! $3.00 a Y*ur
An all-new personal financing plan
is being introduced this week for the
first time in Oregon on a statewide
basis by the United States National
Bank of Portland.
“Custom Credit,” as the new plan
is called, has been defined by E. C-
Sammons, U. S- National president,
as a revolving bank credit account
which permits -the customer -to “write
his own loan” by simply writing
checks, as needed, against a pre- ar-
ranged personal line of credit. This
new service is now available at all
of U. S. National’s 68 banking offices
throughout Oregon.
“Briefly,” Sammons explained, “the I
plaK works like this: Applicants
meeting routine credit requirements
will have a personal line of credit e»- j
tablished for them at the bank. The
total amount, or ‘line of credit,” es­
tablished for the individual customer
will be for 20 times the monthly re­
payment amount the bank and the cus­
tomer agree upon. For example, a per­
sonal line of credit of $500, to be used
in part or in its entirety whenever
the customers wishes, would call for
monthly repayment of $25, with such
repayments starting only when the
line of credit was used "
The customer draws on his “Cus­
tom Credit” by writing checks which
may be used—like any other checks—
anywhere, any time, for any purpose.
Sammons emphasized that anyone,
whether a customer of U. S. National 1
or not, is eligble to apply for this new
service. Users of Custom Credit pay
nothing until they use the credit. Then
they pay the agreed-upon monthly in­
stallment plus interest. Monthly in­
terest rate, charged on amount act- i
ually used, will be $1.25 per hundred
dollars for the first $500 and 83-1-3
cents per hundred dollars on amounts
above that, plus 25 cents for each
Custom Credit check written.
Approvimately 10 days before a
monthly payment is due, the bank will
mail a detailed statement showing
the playment due, interest charge,
total amount of Custom Credit used
and the amount of the Credit still
available.
Sammons pointed out that a per- 1
son using the new service pays only
the agreed-unon monthly installment
even though checks may be written
for all or any part of his established
total credit. When a check is written
for less than the arranged monthly
payment and if no balance is due, the
user pays only the amount actually
spent plus interest.
Only one application is necessary
since the customer may always use
the difference between what he owes
and his total line of credit. In addi­
tion, the line of credit automatically
renews itself as each monthly pay­
ment reduces the amount owing and
therebj- rebuilds the amount of un­
used credit. The effect is to create a
revolving bank credit that may be
used indefinitely.
Except for the factor of bank cred­
it, the operation of the plan will work
as easily as an ordinary checking ac­
count, Sammons said. Customers will
be furnished with a free supply of
checks which carry all the negotiabil­
ity of regular checking account
checks.
An important factor of the service
will be free life insurance, provided
by the bank, for the users of Custom
Credit which in event of death of
the customer will pay off for him
and his family any amount owing un­
der his Custom Credit plan.
SUBSCRIBE TO THE MILL CITY
ENTERPRISE TODAY! $3.00 a Yeur •
Mill City Elementary
Open House Brings
Crowd To School
Santiam Sweeps Track
Meet at OSD Friday
You can enjoy the equivalent of money in the bank nit bout de pouting a penny.'
U. S. National's revolutionary CUSTOM CREDIT gives you a personal line of
credit at the bank that you may draw upon whenever you wish ... simply by
writing a check. The total amount of your CUSTOM CREDIT may be $400,
$600, $800, $1000—any amount agreed upon by you and the bank. CUSTOM
CREDIT costs you nothing unless you use it. Then you repay only the amount
used, plus interest, in easy monthly installments.
Custom Credit buys anything!
Your line of Custom Credit is easy to arrange. You and the bank simply agree
upon the amount that you can conveniently repay each month, over a 20-month
period. The total amount of your Cutlom Credit is then based upon 20 times
the agreed-upon monthly repayment (example: monthly repayment of $W,
times 20 = $¿00 of Cutlom Credit). You can start using your Custom Credit the
COVERAGE GO?
Would your present fire to­
eoats at today's higher fig­
ures? If you want to play
safe, better look into the mate
ter now.
I IMle Pinky Robert* wu «.»
fond u( her two b*:»> reobil*
Easy didn’t have the heart to
tell her they h»d run iv i»,
"Just had to replace those
rabbits before Pinky came
home from school," Eas< said
"Trouble was the only two
available were full grown.
“I tlgured they’d have to do,"
he went on, "so I just hoped
for the best. Then, when Pinky
saw the rabbits she ran into the
housa, yelling, ’Wait'll you see
niy rabbits! Those vitamins
made them twice as big!"’
moment your application is approved. You pay nothing until you draw upon
your line of Cutlom Credit by writing one or more checks. Then you pay only
the monthly amount agreed upon, which will include the interest charge plus
25c for each check paid. Monthly interest is charged on only the amount used ar
$1.25 per hundred dollars for the first $500, and 83'/s cents per hundred dollars
for amounts above that. When the amount used is lett than your monthly
installment, you pay only that amount, plus interest. If you write no Cutlom
Credit checks in any month, and have no balance due, you do not make a pay­
ment. You need never pay more than your agreed-upon monthly installment,
even though you may write check* for your entire line of credit. You may make
larger payment* than arranged for, or repay the entire amount owing, without
penalty.
A revolving line of credit!
You constantly rebuild your Cuttom Credit by making agreed upon monthly
payments. You do not have to repay the full amount used in order to write
additional checks. As long as payments are kept up, you are entitled to spend the
difference between what you owe and your total line of Cutlom ( redit.
You get a monthly statement
You select the monthly payment date most convenient for you. Approximately
10 days before a payment is due, the bank will mail you a detailed statement
showing the pa* merit due, interest charge, amounts of checks paid, any payments
made and the amount of Cutlom Credit still available for your use.
Your family is protected
Life insurance is carried on the amount of Cutlom Credit you owe the bank, u
no cost to you. In the event of death, any amount owing is automatically
cancelled by the bank.
Anyone may apply
You do not have to be a IL S. National customer to establish ■ line of Custom
Credit. 1 he only requirement is a satisfactory credit rating. You make only M4
application, because I utiom Credit is a revolving line of bank credit which may
be used indefinitely.
Your total line of Custom Credit is baaed upon the monthly aoMunt you arrange
to repay the b ink, over a 20 month period. Use the four examples in the table
below as a guide.
A monthly
MAR TO YOOS Nt ArST
U. i. NATIONAL SANK
D. B. HILL INSURANCE
I
NAME
ADCHMtS
Ph. 1708, Mill City, Ora.
Rreuvr* Feamiersen
< onrrigir, /U14. f'sr'tej
NO OBLIGATION
COMPANY
From where I sit. rhildrea
w • thiiiss ** they'd "like them
to be.” but adults ought to see
•blogs as they are. For instance
we can t close our eyes to in­
tolerance and call ourselves
"good neighbors.’’ If I don’t re­
spect your choice of tea or cof.
fee sad v au don’t respect mine
for beer, that’s intolerance and
no excuses. On the other hand,
loleranc. makes good frtendb
"multiply."
Write your own loan with U.S. National
Here’s how it works
WOULD YOUR
Maaic-
Easy Does it
Huer nadUM
for tar Purpose
Cutlom Credit is yours to spend for any purjiose .. .any time! Think of the
convenience of paying for vacations, tuition, taxes, dental and medical expenses,
auto repairs—to name just a few—without digging into your hard-earned savings.
If you don’t use your line of Cm/oas Credit, it costs you nothing—yet it's always
there if you need it
JUST HOW FAR
From whe-e I sit... Zy Joe Marsh
100 North First Avenue
130
DO
»40
DO
»400
»♦00
*100
$1000