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I ' V t . i : I S - IM.AINDKALKH -FRIDAY. APRIL K. 1?»77 Your Rings If You're Planning A Wedding Our advertisers are waiting to help you. Your Wedding Apparel Your Flowers See Us For Your Wedding Announcements We have many styles to choose from, both Contemporary and Traditional. The McHenry Plaindealer 'w Happiness is a Full Stringer While a convenient ruck outcropping may make a neat fishing platform, it's evident that one fisherman is slightly envious of the other. Some­ times it takes a good fishing boat and motor to get to the best fishing hole. Even then, a little angling expertise can sure come in handy. Family Money Management . . . Are Women Good Credit Risks? ALLENTOWN, PA -- "Con­ trary to the old assumptions, women are definitely good credit risks," says James M. Browne, President and Chief Executive Officer, of Finance- America Corporation, one of the nation's leading consumer finance institutions. Browne's conclusion is based on the,, results of an informal survey recently conducted by FinanceAmerica among its male and female customers. According to Browne, nearly one-half of Finance- America's customed are fe­ male, both married and single, who work at either full or part-time jobs. "The large majority of our female customers," said Browne, "have proved that they are certainly not the weaker sex' when it comes to understanding and fulfilling financial responsibilities. Only a very small percentage of them have been unable to meet their loan obligations." If women are good credit risks, then why are so many angry accusations of credit discrimination being hurled at all types of leading institu­ tions? "It's true that some criteria used to evaluate credit poten­ tial were, in the past, based on outdated assumptions," ad­ mits Browne. "But, the Fed­ eral Equal Credit Opportunity Act of 1975 ended forever the myth that women can't han­ dle money. Women today have a right to insist that a lender measure her credit worthiness by exactly the samf standards applied to men." "The Federal Equal Oppor­ tunity Act of eleven years ago has also helped by opening employment doors which had previously been closed to women." "The fact that 43 percent of all women in the United States are now employed and that 44 percent of all mothers with children under the age of six are working, disproves the old assumption that women are bad credit risks because they cannot be expected to remain in the job market after they marry." <*\ "Today," stresses Browne, anyone who applies for a loan, regardless of whether they are male or female must be prepared to meet two basic standards of evaluation: a steady income and a satisfac­ tory credit history. "If they successfully meet these basic criteria, have an acceptable character, and all other conditions are favora­ ble, then there's really no rea­ son why he (or she) should be denied credit." Browne advises that women begin early to build-up a good credit history. "A woman should open checking and sav­ ings accounts, and obtain credit cards in her own name. A married woman should use her own first name to build a credit history for herself. It is also a good idea to establish a record of income in her own name, either through a part time job or by having stocks and bonds in her name to give her an income of record from dividends and interest. "Planning for the future is very important," Browne said. "Unpleasant statistics now in­ dicate that 8 out of 10 mar­ ried women today will one day become widows. The facts in­ dicate that even with substan­ tial cash assets, widows who have not established a credit history are often refused credit because, monthly income from trusts, annuities and social se­ curity is often too low to meet retail credit requirements. "As creditors," he says, "we make loan decisions which are based on the entire credit­ worthiness of an individual, not on isolated qualities of race, creed, marital status or sex. That's why it's so im­ portant to undersand the total needs and situation of the in­ dividual. "Fortunately, the more we learn about women as credit customers, the more we are forced to discard the old myth that women, in general, are poor credit risks," Browne con­ cluded. ES So says the VA... CiSS0N n0tN VETERANS Of WORLD WAR tt, THE KOREAN CONFLICT, POST- KOREAN AND THE VIETNAM ERA ARE GENERALLY ELIGIBLE FOR 61 LOANS FOR HOMES, MOBILE HOMES, AND CONDOMINIUMS. \ i * 6 Contact nearest VA office [chock your phona book) or • local vitartnt group. One moment of a man's life is a fact so~6tupen- dous as to take the lustre out of all fiction. -R.W. Emerson. Life is an instinct for growth, for survival, for the accumulation of forces, for power. -F.W. Nietzsche. 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