Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 11 · column 3 of 4 · from the scan, no model involved
People in Eastern Europe have distrusted government for so long that most have little or nothing to do with financial institutions. For nearly two generations, the accumulation of individual wealth has been suppressed by Marxism, and mattresses and cellars hide the life savings of ordinary men and women.
So its not surprising that Congress has allocated $10 million to develop credit unions as part of the U S. aid package to Poland and Hungary.
Why credit unions? Because unlike other financial institutions, credit unions are member-owned, and democratically controlled, and profits are returned to the membership in the form of dividends, lower loan rates and improved services.
And what’s more important for the people of Europe’s emerging democracies is that credit unions foster financial independence for individuals while building their trust and confidence in fellow members.
77.2%