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On Credit
A director of the Screen Writers' Federal Credit Union does not merely decorate the left side of the imaginary stationery. In addition to Attending Meetings, Carrying Out Policy, Building Up the Organization, and (in the future) Recommending the Declaration of Dividends, he is likely to be assigned to Miscellaneous Responsibilities. Prexy Partos tossed me this month's report simply on the grounds that at the first meeting I almost had been elected treasurer.
The headline of this bulletin could read sensationally:
SWFCU UP 150%
Between the parentheses you would learn that the number of members had increased from 40 in June to 74 in late July.
The shares at this writing amount to $5,144.75.
Ten loans have been made, ranging from two hundred to four hundred and fifty dollars. The first three payments on all have come in on time.
The by-laws authorize the granting of loans "for provident or productive purposes."
By EDWARD ELISCU
That covered all the requests . . . the fellow who had a story in the typewriter which he couldn't finish because the figures kept getting in the way of the letters . . . the writer with a job on the fire that was slower to come to the boiling point than he had anticipated . . . the one who was tiding himself over while promoting an independent writer-producer setup, and who offered objets d'art as collateral though none was required . . . and the one who was writing a book and insisted upon putting up the pink slip on his car though assured it was unnecessary.
No requests for loans have been refused.
The credit committee's standards and functions are impersonal, and are clearly defined in the bylaws which govern the thousands of credit unions under the supervision of the government's Federal Deposit Insurance Corporation.
The credit committee does not ask the plot of anyone's projected original screenplay nor judge his in with agents nor his out with producers. If you're a shareholder you're
entitled to a loan as long as you seem to understand you've got to repay it — with less interest than if you'd borrowed the money elsewhere.
The plan goes beyond the immediate needs of screenwriters who must tilt lances regularly with the First of the Month Men.
You may have an idea for which you need financing — like putting in plumbing at last — or going back to college — or fortifying your study with stout Proustian walls to shut out the wails from the nursery.
Or, with an eye on the future, you may buy shares (in their names) for your five year old son and your eight year old daughter, and add to it steadily, so that by the time they become teledradioscreenwriters they can afford to hold out with their colleagues for a better percentage deal.
The greater the capitalization, the livelier the loans, the bigger the dividends.
We're in business. Let's grow.
SHIRLEY COLLIER AGENCY
(FOR WRITERS EXCLUSIVELY)
204 South Beverly Drive ■ BEVERLY HILLS • CRestview 6-3115
New York Representative: SIDNEY SATENSTEIN, 75 Varick Street WAIker 5-7600
The Screen Writer, August, 194
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