Thursday, December 9, 1982
Page 10
Daily Nebraskan
Winter fraternity rush 'a success'
It looks is if UNL's
first formal winter fra
ternity rush will be a
success, according to John
Foley, rush coordinator.
Rush began Nov. 21 and
bids are still being extend
ed. Foley said approximately
75 men signed up to partici
pate in the winter rush.
Of that number, Foley said
he expects that about 40
or 50 new members will
join the Greek system.
"It's been real success
ful," he said. "The house
rush chairmen were really
pleased with the numbers
and I think this should
help summer rush."
Foley said the Greek
system can build on the
winter rush and a formal
rush is planned again for
next fall.
"It was fun to blaze
new trails," he said.
Although the final list
of new fraternity mem
bers, showing the full re
sults of the winter rush,
won't be completed until
after the Christmas break,
Foley said awareness of the
Greek system is thriving.
"The system is really
ticking and growing," he
said.
Formal winter rush
began with orientation in
the Nebraska Union Ball
room. Each house was re
presented and had a table
where representatives talked
to rushees, and prospective
members could sign up for
house tours, Foley said.
Two informative
speeches were given, one
concerning the advantages
of Greek life and the
other on the changes from
living in a residence hall
to moving into a house.
"I thought it was pretty
successful," Foley said.
"The individual rirsh chair
men were pleased and so am
I."
New dean is still sought
The search is still on to fill the post of Arts and
Sciences' dean, vacated by Max Larsen, former mathemat
ics and statistics professor.
According to Larry WalWin, journalism professor and
president of the Faculty Senate, applications are still
being taken and a decision will not be made until next
year.
Walklin said advertisements for the position have been
posted and the committee is meeting every two weeks
to discuss the applications and affirmative action reports.
Larsen left UNL to work as executive vice president
of Selection Research, Inc. He was dean of Arts and
Sciences from 1976 until 1981.
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Robert Torell
Credit union offers savings,
loans and extended hours
By Peggy Polacek
Recent plant and store closings, lay
offs, unemployment and the general
recession have caused many people to
worry about the safety and soundness
of financial institutions.
During the Depression, from 1929
to 1933, more than 9,700 U.S. banks,
with more than $7 billion in assets, closed
their doors temporarily or permanently,
causing many people to lose their savings.
In 1933 alone, 4,000 banks were forced
to close.
Credit unions during that time pro
tected members' savings and preserved
their integrity as safe, sound institutions.
The University of Nebraska Federal
Credit Union (UNFCU), 501 N. 10th
St., is following the stable credit union
example, credit union manager Bob Torell
said.
Credit unions are required to maintain
reserves for losses, Torell said, and the
credit union has built up large assets be
cause reserves have not needed to be
spent.
Excellent financial conditions place
UNFCU in fine shape, compared to many
other credit unions, he said. At the end
of November the credit union had 31,050
members.
Lack of student support and active
accounts contributed to the closing of the
ASUN Credit Union last December, he
said. There were about 300 members
of the ASUN union when its doors were
closed. Torell said the credit union is
unique because it was composed of stu
dents who did not have much money to
invest and support the credit union.
However, mainly UNL employees,
faculty and staff contribute to UNFCU,
Torell said, with most students taking
out loans instead of investing.
At the end of November, the credit
union had a total savings of almost $4
million, Torell said.
Savings acquire a 7 percent interest
rate for the first $500, and 8 percent
for savings over $500.
Loans are paid back at a rate of 17
percent for mature loans, 16 percent for
used cars and home improvements and
15 percent for new cars.
Torell has been manager for about
five months and has instituted a few
changes at UNFCU, which was established
in the 1930s.
Office hours were expanded to 8 a.m.
to 5 p.m. from the previous 8:30 a.m. to
3:30 p.m. hours. Also, the credit union
now can pay small share withdrawal
in cash to members.
Daily dividends are paid on savings
accounts based on daily account balances,
compounded monthly. Now members can
earn from the date they deposit savings
to the date they withdraw them. A new
data processing system allows members
of balances to be changed and updated
immediately, instead of the few days wait,
which occurred before the system was
installed.
UNFCU will soon begin making com
puter loans, Torell said. The current in
terest in personal computers by faculty,
staff and students provided UNFCU
with the unique opportunity to offer
loans for computers.
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