ANNUAL REPORT OF THE CREDIT UNION

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP79-00498A000600070006-2
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 9
• Document Creation Date: December 9, 2016
• Document Release Date: October 23, 2000
• Sequence Number: 6
• Publication Date: July 20, 1976
• Content Type: MF

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MEMORANDUM FOR: Management Advisory Group
FROM E. H. Knoche
Desuty Director of Central Intelligence
SUBJECT Annual Report of the Credit Union
REFERENCE : MAG Memorandum, Dated 24 June 1976,
Same Subject
1. In a Management Advisory Group memorandum, dated
24 June 1976, it was suggested that the BAA, EAF and PSAS
be urged to publish their financial reports. The three
organizations involved fall under the aegis of the Office
of Personnel. I am attaching.-',herewith a copy of Mr. Janney's
memorandum agreeing to publishh.the reports.
2. 1 do appreciate suggestions such as these and urge
you to continue to submit these matters for review.
E. H. Knoche
Distribution:
Orig - MAG (via DDCI)
1 - DDCI
1 - ER
D/Personnel
DDA Subject
1 - DDA Chrono
1 - RFZ Chrono
STATINTL EO/DDA/
:lm (20 July
76)
Background: (1) MAG Memo, dated 24 June 76, The Annual Report
of the Credit Union; (2) Memo from D/Pers to DDCI, dated
19 July 76, Subject: Financial Reporting of EAA, EAF and PSAS.
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. JUL 197$
1 ORANEU FOR: Deputy Director of Central Intelligence
THROUGH : Deputy Director for Administration
FROM F. W. i Janney
Director of Personnel
ECT
NC
pinancial Reporting of EAA, EAF and PSAS
Memo to DDCI from MAG dtd 24 June 76,
subj: The Annual Report of the
Credit Union
This is in response to the referent Management
Advisory Group memorandum which recommends that the-Fmplorece
and the'Pub is Service- Aid Society (PEAS) disseminate annual
reports.
2. while annual reports have not been published in the
to these organizations have received careful supervision
Agency and information has been available to employees
ook an interest. In each case a Board of Directors is
selected or elected from within the Agency. Each is audite4l
by the Audit Staff and files income tax returns with the
Internal. Revenue Service. The Office of Personnel provides
administrative direction and support to all three organiza-
tions.
S. In the case of the EAA, an annual meeting is held
each year In the auditorium and all members are invited
and encouraged to attend this meetin . An annual report is
given anti a question and answer session is held on any topics
members wish to bring up. Last year EAF and PSAS provided
information about their activities in the literature distrib
uted to all employees in conjunction with the Consolidated
Fund Campaign (CFC) -- see attachment.
4. We will now plan to publicize the annual reports of
p The EAA. report can be combined with other important
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information on the activities Of the Association and published
the form of an BAA-Gra+. Financial statements of RAP and
PSAS will be posted on official Bulletin Boards and a.dditionml
information regarding their activities included on a regular
basis in the annual CPC pamphlet,
S. We recommend, therefore, that the Management Advisory
Group be advised of your support of their recommendation and
that action will be taken by the Office of Personnel to pub`
licixe the reports.
P, W. M. Jana*)
Att
Distribution:
Orig I - Adse
l ER
,,7r DDA
I - D/Pers
2 - C/BSD (I w/held)
TATINTL ap/BSD~:gec (19 Jul 76)
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FUND CAMPAIGN PAMPHLET
Enclosed is your CFC/EAF/PSAS Consoli-
dated Fund Campaign pledge card. Return the
pledge card to your Keyperson whether or not
you make a contribution. Return of all pledge
cards is required for audit purposes and to en-
sure that no contribution is lost.
Consolidated Fund Campaign is the combi-
nation of the Agency's fund drive for the Edu-
cational Aid Fund and the Public Service Aid
Society being conducted concurrently with the
Metropolitan Washington Area's Combined Fed-
eral Campaign.
Combined Federal Campaign (CFC) repre-
sents many charitable organizations and agen-
cies. You may designate a specific agency or
agencies to receive your contributions by enter-
ing that Agency's assigned number in the box
on the back of the pledge card. A listing of CFC
organizations and agencies with assigned num-
bers are listed in the CFC contributor's leaflet.
HOW TO MAKE YOUR
CFC/EAF/PSAS CONTRIBUTION
1. Cash or Check: Contributions by check for
CFC, EAF, or PSAS should be made payable to
CONSOLIDATED CHARITIES only. Indicate
the dollar amount being contributed in the block
marked "Cash or Check" on the pledge card.
2. Payroll Deduction: Complete your pledge
card and return it to your Keyperson. In order
for the Payroll Branch to deduct your contribu-
tion each payday, you must sign the card.
a. When you use the payroll deduction plan,
you authorize the deduction of a specific
amount from your pay each pay period during
1976. This authorization remains in effect un-
less terminated by you in writing,
b. Indicate on your card the total annual
amount you wish to pledge and the amount
to be deducted each pay period. The minimum
deduction is 250 biweekly for a total annual
pledge of $6.50. A table showing various bi-
weekly deductions and the corresponding total
annual pledge is located on the last page of
this pamphlet.
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 your annual p edge on -your card arid' indicate
the amount in the box provided, for Direct Billin .
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top line. You may make payments on your pledge
any time during 1976. Quarterly statements will
be sent to you on the unpaid balance (April,
July, October 1976, and January 1977 prior to
closing our books ).
4. Y/ou may pay your pledge by a combination
of the above plans.
EXAMPLE: A $25.00 pledge may be paid
by a deduction of 500 per pay period if you
are paid every 2 weeks and the remaining
$12.00 may be paid in cash or check during
the Drive, or by Direct Billing in quarterly
payments.
5. Personnel paid every four weeks may con-
tribute to CFC and/or EAF only by cash, check,
or Direct Billing.
CONTRIBUTIONS
1. Your contribution to PSAS may be made
either by check or cash. Payroll Deductions and
Direct Billing plans are not available for PSAS
contributions.
2. Checks are to be made payable to "CON-
SOLIDATED CHARITIES."
CONFIDENTIAL CONTRIBUTIONS
1. Enclose your pledge card with your contri-
bution in a sealed envelope. Write the control
number of the card on the envelope and turn
it in to your Keyperson. This envelope will then
be delivered, UNOPENED, to the Fund Drive
Coordinator.
RECEIPTS
1. The Fund Drive Coordinator will furnish
you a receipt for cash contributions to CFC,
EAF, and PSAS if you write "Receipt Requested"
and your name and office address.
2. Receipts for Direct Billing pledges will be
issued by the Office of the Fund Drive Coordi-
nator when payment is made in cash.
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Through the Educational Aid Fund, EAF, you
help the sons and daughters of deceased, retired,
and active Agency employees fulfill their hopes
.and plans for further education. Your generosity
is a warm and friendly act, a manifestation of
faith in the future.
EAF awards come either in the form of direct
grants or interest-free loans, which are not repay-
able until after the student graduates. The vast
majority of awards are loans, and the principal
source of funds for the awards is the annual EAF
Campaign,
Factors taken into consideration in selecting
EAF awards are: financial need; academic
achievement; motivation, as demonstrated by
part-time work and extracurricular activities; and
a personal essay written by the applicant. All
applications are reviewed and considered in
anonymous form by the EAF Selection Commit-
tee and, in turn, the EAF Board of Trustees.
More than one member of the same family
may receive awards and awards may be given
to the same individual in successive years if the
!student reapplies. Moreover, the EAF Board
within the past two years has instituted a new
policy of considering applications from students
entering or attending junior colleges and post-
highschool-vocational schools, rather than limit-
ing the awards to four-year college students tas
in previous years.
The EAF also awards four special grants each
year:
The Matthew Baird Award is granted ex-
clusively to the student who demonstrates un-
usually high personal motivation through self-
help.
The John A. McCone Award is granted to the
stu ent Foliose financial need is particularly
significant.
The Frank G. Wisner Scholarship is awarded
on the basis of outstanding academic and per-
sonal achievement.
The Lawrence K. White Award is granted to
the student who has demonstrated unusual
leadership qualities.
Last year, your contributions totaled $31,036.30
and helped make possible the awarding of 35
loans ranging from $750 to $1,000, 5 special
grants of $300 each and five special awards
totaling $8,500. In its eleven years of existence,
the EAF has given 406 awards valued at $244.400.
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 mediate family. -
o Relief from , indebtednessunder circum
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indivi ual's. capacity or repayment n
normal period of time.
PSAS will not make loans that would normal!
be obtained from the Credit Union, banks c
other sources, or for matters which are primaril
under the control of the individual for his pei
sonal economic convenience, such as financin
the purchase of personal property. The applicar
must demonstrate a pressing need and must ha.,,,
exhausted every reasonable means of self-assist
ance. Requests for assistance should be submitte,
by the applicant directly to the Personal Affair_
Branch, Office of Personnel, Room 5 E 11 Head
quarters, X-6081 or 6341. All such requests will b
handled in confidence.
SOURCE OF FUNDS
PSAS obtains its funds entirely through volur
tary contributions. Such contributions are d(,
ductible for income tax purposes. PSAS woul
have been unable to achieve its objective withot
the support it has received from many indivic
uals. During the 1974-1975 Consolidated Fun
Campaign, PSAS received $9,412.84. .
ADMINISTRATION
The Society is administered by a Board
Trustees composed of officials from variou
components of the Agency. The Board mee
annually to consider policies and affairs of tl
Society and to elect officers. An Executive Con
mittee is empowered to act for the Board in t1
consideration and approval of requests fc
assistance.
During the Fiscal Year 1975, eighteen loaf
were approved fora total of $21,354.69.
LOAN ACTIVITIES AS OF
30 JUNE 1.975
Loans receivable ...........
65
$94,366.,
New loans 1 Jan-30 June ....
9
10,112.
Paid up loans 1 Jan-30 June ..
8
3,964.(
Payments received in 1975 ..
171
9,557.(
Average monthly income from
loan repayments in 1975 ..
1,592!
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 Contributions to CFC, EAF, and PSAS are
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2. Contributions to CFC and EAF paid by
payroll deduction may be deducted on your 1976
tax return. If you wish to deduct your contribu
tions to CFC and EAF on your 1976 tax return,
you should pay the balance of your pledge in cash
or check before 31 December 1976.
3. If you are making a contribution by payroll
deduction, you should, retain your earning state-
ments to verify the amount to be used on your
'\.tax return. You may obtain a statement of with-
'holding from the payroll office if you are re-
quired by a tax authority to show proof of the
amount withheld for charitable purposes.
PUBLIC SERVICE AID SOCIETY
(PSAS)
The Public Service Aid Society is a non-profit
corporation organized under the laws of the
District of Columbia on 31 December 1955 for
the purpose of rendering assistance, financial
and otherwise, to eligible individuals in urgent
need of assistance who have exhausted every
reasonable means of self help.
POLICIES
The Public Service Aid Society assists de-
serving individuals through financial and ? other
means; each request is considered in confidence
on an individual basis.
. Direct financial assistance is offered as a non-
interest bearing loan. Loans are generally made
on a deferred payment basis and with a level of
payment which takes into account the individual's
particular circumstances.
When financial assistance is not required, aid
may be in the form of advice and counseling or
guidance in contacting appropriate health or
other assistance organizations.
Typical of the needs for which PSAS has pro-
vided assistance are the following:
? Emergency or unusually heavy medical or
hospital expenses, not covered by insurance.
? Emergency travel funds when critical ill-
ness or death occurs in the immediate
family.
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PAYROLL DEDUCTION SCHEDULE
isted below is a scale of biweekly deductions from 250 to $15.00 and the total annual value of each if deducted from
our salary every pay period for one full year. If you wish to have your pledge paid by payroll deduction, please deter-
nine the amounts you wish deducted each pay period from this scale and the corresponding annual pledge and record
hese amounts in the appropriate spaces on the pledge card.
iweek
Annual
Biweek
Annual
Biweek
Annual
Biweek
Annual
Biweek
Annual
Biweek
Annual
educ.
'Pledge
Dedue.
Pledge
Deduc.
Pledge
Deduc.
Pledge
Deduc.
Pledge
Deduc.
Pledge
$ .25
$ 8.50
$2.75 =
$ 71.50
$5.25 =
$136.50
$ 7.75 =
$201.50
$10.25 =
$266.50
$12.75 =
$331.50
.50 =
13.00
3.00 =
78.00
5.50 =
143.00
8.00 =
208.00
10.50 =
273.00
13.00 =
338.00
.75 =
19.50
3.25 =
84.50
5.75 =
149.50
8.25 =
214.50
10.75 =
279.50
13.25 =
344.50
1.00 =
26.00
3.50 =
91.00
6.00 =
156.00
8.50 =
221.00
11.00 =
286.00
13.50 =
351.00
1.25 =
32.50
3.75 =
97.50
6.25 =
162.50
8.75 =
227.50
11.25 =
292.50
13.75 =
357.50
1.50 =
39.00
4.00 =
104.00
6.50 =
169.00
9.00 =
234.00
11.50 =
299.00
14.00 =
364.06
1.75 =
45.50
4.25 =
110.50
6.75 =
175.50
9.25 =
240.50
11.75 =
305.50
14.25 =
370.50
2.00 =
52.00
4.50 =
117.00
7.00 =
182.00
9.50 =
247.00
12.00 =
312.00
14.50 =
377.00
2.25 =
58.50
4.75 =
123.50
7.25 =
188.50
9.75 =
253.50
12.25 =
318.50
14.75 =
383.50
2.50 =
65.00
5.00 =
130.00
7.50 =
195.00
10.00 =
260.00
12.50 =
325.00
15.00 =
390.00
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