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The Weekly Gazette
East Hartford, Hartford County, Connecticut
What is this article about?
The East Hartford Aircraft Federal Credit Union held its fourth annual meeting on January 15, electing officers and directors, reporting significant financial growth, and voting a 4% dividend to shareholders. It is the largest credit union in Connecticut, serving 2,500 United Aircraft Corporation employees.
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The following officers were elected at the fourth annual meeting of the members of the East Hartford Aircraft Federal Union on January 15: William Hawksworth, president; H. J. Fischbeck, vice-president; Harold A. Iverson, re-elected treasurer and general manager. New directors are Philip S. Farnsworth, Clifford Brewer and Lionel Clark. Reelected directors included Alfred P. Tebbets, Jr., A. R. Root, Paul Azinger, Arthur Pronovost, George P. Churilla, Adam C. Wolz, Charles T. LaVista, Harry C. Smith and Charles Lambert.
Mr. Iverson stated that the share deposits had increased during the past year from $63,000 to $110,000. Outstanding loans had increased from $50,000 to $104,000. He also reported that the assets had increased from $69,000 to $119,000.
A four percent dividend was voted to all shareholders of record December 31.
This credit union is the largest operating in Connecticut and is controlled by the employees of the United Aircraft Corporation here. Total membership is now 2,500. It permits its members to deposit savings and make loans in accordance with regulations embodied in the Federal Credit Union Act passed by Congress in 1934.
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Domestic News Details
Primary Location
East Hartford, Connecticut
Event Date
January 15
Key Persons
Outcome
officers and directors elected; share deposits increased from $63,000 to $110,000; outstanding loans from $50,000 to $104,000; assets from $69,000 to $119,000; four percent dividend voted to shareholders of record december 31.
Event Details
Fourth annual meeting of East Hartford Aircraft Federal Credit Union where officers were elected, financial increases reported by treasurer Harold A. Iverson, and a dividend declared. The union, controlled by United Aircraft Corporation employees, has 2,500 members and operates under the 1934 Federal Credit Union Act.