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About The independent. (Vernonia, Or.) 1986-current | View Entire Issue (May 15, 2003)
Page 4 The INDEPENDENT, May 15, 2003 Business Notes VFCU members agree to merger with Wauna Recognizing the need for in creased services, members of the Vernonia Federal Credit Union voted to merge with Wauna Federal Credit Union at their annual meeting, May 10. In action as decisive as the initial formation of the Credit Union in 1940, 114 members voted in favor of the merger, one opposed it and two blank ballots were turned in. Prior to the balloting, VFCU Manager Randy Holce re viewed the process used by the local board in reaching the de cision to recommend a merger with Wauna. Though they looked at a few potential part ners, St. Helens FCU was the only other serious contender. Holce emphasized his con cern that the merger partner could retain the feel of a small town credit union, and not act like a city financial institution. “The Wauna people feel right,” he said, “They’re our kind of folks." Wauna had to get approval to incorporate Vernonia into its field of membership before the merger could be completed. That was a federal require ment. But they also had to meet some requirem ents insisted upon by the local board, includ ing continuation of the scholar ship for a graduating Vernonia High School student, sponsor ship of a Little League baseball team and continuation of the VFCU life insurance program for 15 years. Holce will also sit on the Wauna board of direc tors. VFCU members can expect a closing statement showing account activity and balances for five months, January through May, of this year. The closing statement will reflect regular dividends, plus merger dividends resulting from the $150,000 paid to VFCU as part of the merger. Though Wauna is much larger than the Vernon ia CU, VFCU has a higher per centage of capital and the $150,000 was needed to make the transaction equitable. In one of those “small world” situations, one volunteer Wau na committee member is Laura Brewer, of Clatskanie, who is the daughter of Ruth Steers, one of the charter members of the local credit union. Laura is also the sister of Alice Smith and Mary Cota of Vernonia. Sam Hearing, Randy Holce’s uncle, is also a charter member. He was unable to at tend the meeting because of health problems. Ed Roediger - account num ber 96 - attended and won a door prize. Wauna will offer full services in Vernonia, with an ATM ma chine, credit and debit cards, checking accounts and much more. It will take until about the middle of June for the ATM equipment to arrive in Vernon ia, but remodeling will begin very soon. Dave Baggett, the Wauna CEO, noted that all of its serv ice towns are economically dis tressed communities. In addi tion to its headquarters in Clatskanie, it has offices in Rainier and Astoria. When the doors open on Monday, June 2nd, the name of the local credit union will be Wauna Federal Credit Union. Vernonia Credit Union Manager Randy Holce, Wauna Federal CEO Dave Baggett and Lead Member Service Rep Brandi Page enjoyed a breath of fresh air on the deck at the Scout Cab in in Hawkins Park. Page will be in charge of the Vernonia office. Tractor Safety & Farm Machinery Clinic set June 4 Oregon youth, 14 - 17, are required to complete a state approved training program in order to operate or assist in op erating tractors or farm machin ery. A Tractor Safety & Farm Ma chinery Clinic will be held Wednesday, June 4, from 4:00 ,Jj Local Bankruptcy Attorney Fees Starting at $299 Ireland at Law 503-324-1500 The American Legion # 119 Invites you to Bingo Saturday Nights twice a month! American Legion Hall 627 Adams Ave. Vernonia May 1 7 6:30 p.m. to 9:00 p.m., Thursday, June 5, from 4:00 to 9:00 p.m., Friday, June 6, from 4:00 to 9:00 p.m. and Saturday, June 7, from 8:00 a.m. to 6:00 p.m. at Hills boro High School, 3285 SE Rood Bridge Rd. The clinic is open to the first 25 participants. Registration Don't miss the latest news... Subscribe to The INDEPENDENT fo r ju s t $15 per year. Call 503-429-9410 to s ta rt your subscription. ÍÍ forms are available at the OSU Extension Service. Pre-regis tration required by May 25. For more information and registration forms, call the OSU Extension Service 4-H at 503- 725-2110 or visit <www.ore- gonstate.edu/extension/w ash ington>. VERNONIA INN Enjoy a quiet weekend with us. PULL SIZE, IN ROOM HOT TUBS Queen Beds • Private Bath • Separate Entrance Cable TV • Phones • Handicapped Access CONTINENTAL BREAKFAST FOR RESERVATIONS CALL 1-800-354-9494 I 503-429-4006 GIFT CERTIFICATES AVAILABLE 900 MADISON AVE., VERNONIA, OR 97064 Just one block off scenic Nehalem River Hwy. (Oregon 47) ,
