NORTHWEST FEDERAL CREDIT UNION ACTIVITIES PROGRAM FISCAL YEAR ENDING - 30 JUNE 1964

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-01826R000200030001-0
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 12
• Document Creation Date: December 9, 2016
• Document Release Date: June 27, 2001
• Sequence Number: 1
• Publication Date: June 30, 1964
• Content Type: REPORT

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NORTHWEST FEDERAL CREDIT UNION
ACTIVITIES PROGRAM
Fiscal Year Ending - 30 June 1964
Since the Credit Union operates on a calendar year basis,
attached to and forming a part of this report are the annual
Credit Union financial and statistical reports for the period
ended 31 December 1963. These reports reflect Credit Union
growth during the past five years. In order to give a more
significant picture of the actual growth and scope of the Credit
Union operation, I will use comparative figures and percentages
taken from the 1963 report of operations of Federal Credit Unions.
Federal Credit Unions are cooperative associations or-
ganized in accordance with the Federal Credit Union Act "to
promote thrift among their members and create a source of credit
for provident and productive purposes." Membership is limited
to a group of persons having a common bond of association, oc-
cupation, or residence. Federal Credit Unions are chartered,
examined, and supervised by the Bureau of Federal Credit Unions.
The Bureau's operating expenses are borne by the Federal Credit
Unions; the Bureau receives no direct appropriation of public
funds.
Members' shareholdings. are not insured by an agency of the
Government.
The Credit Union's assets have grown.over one million
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.dollars during the year to rank nationally among the sixty
Credit Unions. having assets of over five million dollars.
There is a total of 10,955 federally chartered Credit Unions.
25X9 There has been an .increase of M in total membership. There
25X9 were - new loans for a total dollar value of $9,489,592.59.
Total receipts received by the Credit Union for payments of
loans and shares during the fiscal year totaled $6,140,100.
In connection with work load and cost of Credit Union
services, it was found that during the fiscal year, the Credit
25X9 Union cashed - treasury checks for a total of $14,428,394.92
25X9 and - personal checks for a total of.$7,412,102.75. Total
25X9 checks cashed, - at $21,840,497.67.
A comparison of our Credit Union with the other sixty
Credit Unions with over five million dollars in assets:
.Ratio of total expense to gross income:
National average - 35.3% Northwest - 23.2%
Average membership for Credit Unions:
National average 13,143 Northwest -
Average shares per member:
National average - $661 Northwest - $657
Average loan outstanding as of 31 December 1963:
National average - $931 Northwest $961
Last year your Credit Union reported installation of
modern bookkeeping machines and of the need for the management.
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staff to remain well-orientated on new equipment. Over the
course of the year the manager and assistant manager have
attended numerous seminars and machine exhibits.
The machine industry is constantly improving their
equipment. They now have electronic machines that are com-
pletely transistorized, which is a big improvement over the
tube-type machines that are now being used by the Credit Union.
It is anticipated that within the next few years, our present
machines will have to be replaced.
The Credit Union was in the process of increasing their
T/O last year at this time. We received approval of M
positions from the Board of Directors. We have recently,
within the past month, increased the T/O to _ with an 25X9A2
anticipation in the near future of one-or two additional em-
ployees.
Space requirements: The need for additional space is
becoming very obvious. While the space appears adequate from
the member's point-of view, approximately fifty percent of
the total space is used for mem'bers' lobby.
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OTHER SIGNIFICANT ITEMS
1. Bureau of Federal Credit Unions completed their
annual examination of the Northwest Federal Credit Union
under more stringent requirements as set forth by the office
of Security.
2. Bi-annual confirmation of accounts will commence
11 July 1964. Statements will be transmitted to members
under control conditions by the Supervisory Committee. Any
discrepancies should be reported to the Supervisory Committee
and not the Credit Union. Appropriate instructions are carried
on each member's statement.
3. All the old NCR ledger cards have been micro-filmed;
thus enabling the Credit Union to destroy the original records.
4. The Federal Credit Union Act was signed into law by
President Franklin D. Roosevelt thirty years ago on 26 June
1934.
5. Dividend paid in 1964 amounted to $412,373 at a 5%
rate of return.
6. Total amount of dividends returned to our members
since 1947 amounted to $2,093,808.
7. H.R. 8459 was signed inlaw by President Johnson
which provides that a Credit Union may pay semi-annual
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.dividends-, appoint up to five members on the Supervisory
Committee, accept F. H. A. Title 1 Insurance as collateral
on home improvement loans and makes a FEDERAL CRIME OF WILL-
FULLY FAILING TO DISCLOSE ACCURATE, INFORMATION OR FORGING
A SIGNATURE TO INDUCE A CREDIT UNION TO LEND MONEY.
8. The Uniform Commercial Code has been adopted by
the Virginian legislature and will. become effective on
1 January. 1966.
9. Form 1099 relative to Credit Union dividend re-
porting was issued for the first time this year in collabor-
ation with appropriate Agency departments to provide the same
security protection afforded recipients of W-2 forms.
10. Attached to and forming a part of this report is a
brief history of. the Credit Union movement entitled, "Great
Moments in Credit Union History."
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CREDIT COMMITTEE'S ANNUAL REPO FT
JANUARY 1964
1.F For the year 1963.
2. Number of regular meetings: 52. Number of special meetings:
3. Number and amounts of loans approved:
YEAR
FACE TOTALS
1963
$9,489,592.59
1962
7,989,452.80
1961
7,358,620.04
Types of loans approved:
NUMBER
TYPES
FACE TOTALS
Comaker
1,997,819.25
Signature Loans
1,852,876.54
Collateral Loans
(cars, boats, ect.)
1,562,513.67
Share Loans
1,243,310.63
Combination Loans
2,609,878.75
Trust Loans
84,191.27
Educational Loans
48,217.15
Stock Loans
90,785.33
v9,489,592-59
;lumber of EXTENSION AGREEMENTS: 322 approved in amount of: 403,157,39.
loan Officers approved
in amount of 3,506,992.02
lumber of applications rejected: 134.
GROUP i
Excluded from automatic
declassification L
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ACCOMPLISHI4E1 TS FOR FISCAL YEAR 1964
1. Suggestions and Inventions
Suggestions and Inventions received ........................ 542
Suggestions eliminated by Branch as ineligible... *00.*49609 253
Suggestions processed and evaluated as eligible............ 289
Suggestions considered as patentable inventions............ 4
Suggestions adopted... ....................................... 94
Suggestion Awards (Cash) ...........................61
Certificates of Appreciation .......... .............33
Total Cash paid for Suggestions and Inventions ............... $5,845.00
Adoption Rate ................................................ 32.5%
During the past Fiscal Year a certain amount of success has been
realized in the Suggestion and Invention Awards program through continu-
ous advertising of its value as a good management tool. This advertising
has been through briefings, individual contacts with the supervisors, and
special attention to effective Awards ceremonies. Literally hundreds of
employees have been briefed on the goals of the suggestion system.
When President Johnson's economy drive was launched, the Suggestion
Awards program was used as one of the means to achieve Economy in Govern-
25X1A6a ment. The introduced a contest to solicit Econo-
my ideas. xs a matter yr Tact, tine Directors of the Office of Logistics
and of the NPIC have enhanced the stature of their Internal Panels, and
through these Panels have emphasized the value of the suggestion system
to their operations. As a result they have realized substantial improve-
ments and have earned substantial awards for their employees.
Publicity for the program has been through the SUGGESTION EXCHANGE,
new posters, film showings, handouts in the cafeterias, and articles in
the Support Bulletin. However, the most effective publicity has been
achieved through the personal contacts in the various Offices, and in the
OTR training courses.
There were some very unusual suggestion awards paid in this fiscal
year--one for $7500.00 to a GS-11 technician in OC, one for $755.00 to a
GS-7 Supply Clerk in OL, one interim award of $1000.00 to a Photo Inter-
preter in NPIC, and one for $500.00 to a Special Operations employee in
the DD/P for a most significant technical improvement.
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ACC( '1PLISITS FOR FISCAL YEAR 1964 (cont'd)
25 9 2
2. Honor and Merit Awards
Recoomanendations received ...................... .......??????????,??? 95
Recommendations approved.(by.DCI) ...................................
`Y Distinguished Intelligence Medal.????.......'. 3
\Intelligence Star.....?..?????..... .....??????. 9
Intelligence Medal of Merit .................... 19
Certificate of Merit with Distinction.......... 22 Cash Paid $1,100.00
Certificate of Merit ........................... 20 Cash Paid
Legion of Merit (Army) ......................... 1
Air Force Commendation Medal ................... 3
Board Meetings held ......... 9 Recommendations approved by Board 102
Ceremonies held 27
In the Honor and Merit Awards program there are no new achievements
to report, save an increase in interest and, therefore, in the number of
awards and ceremonies held for our people.
A new regulation was drafted and debated about, which will appear
in print fairly soon.
Length of Service Program
The 16th Anniversary Ceremony was held in the Auditorium at which
employees were honored for having served 10 or 15 years with this
Agency.
The Director presided and delivered an address to the ranking Agency
Officers and to all the employees in the Assembly. A selected group went
on stage to receive their certificates as representatives of their compo-
nents. The Choral Group participated by leading the singing of the National
Anthem and by singing a few other selections.
* 11 Recommendations approved by DCI were received in FY '64
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PLANS AND OBJECTIVES FOR FISCAL YEAR 1965
1. Suggestions and Inventions
a. To continue to increase Agency benefits through the Suggestion and
Invention Program by extending interest throughout CIA, particularly
by reaching more supervisors in NPIC, OL, DD/S&T, and above all, in
DD/P in the Field.
b. To post more exciting posters which will attract attention and in-
crease participation. (As a matter of fact, we now have five posters
designed, approved, and ready to be printed.)
c. To have a Suggestion Fair and tell all cleared persons about specific
achievements, and to give thew guidance about the best way to submit
prize-winning suggestions.
d. To schedule attendance at NA.SS Convention for both _ and myself. 25X1A9a
2. Honor and Merit Awards
a. To assume complete administrative responsibility for the Agency Honor
and Merit Awards Program, in the interest of economy, of time, motion,
and personnel, and above all, to reduce the aggravations inherent in
a divided responsibility situation.
b. To work toward honoring our OVERT Award winners at the Annual Awards
Ceremony by having the awards presented to them on that date by the
Director.
c. To use our new film about the President's Award for Distinguished
Federal Civilian Service to maximum advantage, to encourage szper-
visors to use the Awards programs to honor their people.
3. Length of Service Awards
a. To improve the administration of the paperwork involved.
b. To improve the seating planning by issuing tickets of admission.
c. To make maximum use of the fact that Mr. Kirkpatrick received the
President's Award for Distinguished Federal Civilian Service.
4. Public Service Awards
To effectively administer the Agency's participation in this program,
and to introduce proper planning to avoid any last minute nominations.
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PLANS AND OBJECTIVES FOR FISCAL YEAR 1965 (cont'd)
5. Retirees Award
To devise the best and most efficient administration for awarding the
new Retirement Medallions to our retirees.
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PLANS AND OBJECTIVES FOR FISCAL YEAR 1966
The plans and objectives for FY 1966 will be very similar to the
plans described for the Incentive Awards Program in FY 1965. As stated
last year, a procedural manual should be published describing the Agency's
precise criteria for available awards.
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