The Rice Thresher (Houston, Tex.), Vol. 67, No. 2, Ed. 1 Thursday, August 16, 1979 Page: 3 of 8
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Court calls credit union draft accounts illegal
A recent federal appellate
court decision has threatened
to put federally chartered credit
unions out of the "share draft
savings" business. Share draft
savings, though legally
different from a bank checking
account, are quite similar to
them except that share draft
accounts pay about 4% interest
on deposits.
The court decided that, since
there is no legislation
authorizing credit unions to
provide such accounts, credit
unions are in violation of
banking laws against paying
interest on checking accounts.
However, the court has delayed
enactment of its decision until
January 1, 1980, in order to
give Congress a chance to
provide the necessary
legislation should it desire to do
so.
Many Rice students and
Energy...
continued from page 1
of up to $10,000 per day per
violation.
Various measures have been
implemented at Rice in past
years to conserve energy. Air
systems are turned off in
buildings that will be
unoccupied for more than 8
hours, and a sophisticated
computer system, currently
operational in 10 buildings, has
been installed.
Inplementing a compre-
hensive conservation plan at
Rice is difficult, however, since
virtually every building has a
different heating/cooling
system. Many use chilled water
from the central plant, but
others mix cold and warm
water, while still others use a
system in which cold air is
reheated. What kind of system
any particular building uses
depends on the architect, the
engineer, and the year in which
the building was constructed.
ktru
917Tm
rice radio
faculty have share draft
accounts at the Houston Area
Teacher's Credit Union, an
organization which has been
associated with Rice since last
winter. Since H ATCU is a state
chartered, rather than a
federally chartered, credit
union the court decision will
not affect it directly.
However, Texas Credit
Union League spokesman
Wayne Lough said that state-
chartered credit unions have
felt increased pressure across
the country as a result of the
decision. "In San Antonio a
suit has been brought by two
banks against a local credit
Seminar...
continued from page 1
observed that "this is really as
much a briefing as it is a
seminar."
The meeting will take place
in the R Room (at the stadium)
beginning at 9am. From 9:30 to
11:30 the NSF representatives
will address the delegates, and
any students who want to
attend, about the areas where
Texas research institutions and
sister schools in Mexico might
profit from technical and
scientific cooperation.
The afternoon will be taken
up by personal interviews,
arranged before the lunch
break, between the delegates
and the NSF representatives.
Phones...
continued from page 1
say that the university is
seriously considering a new
system. Right now we are jsut
negotiating for a proposal and
doing our best to make the
existing equipment work."
"However," he added, "if we
get the equipment working and
it still can't handle the load next
fall, we'll just have to bite the
bullet."
See our fine selection of
Swedish dogs.
Semi-annual sale now in progress
20% oft
2370 RICE BLVD.
union. The suit asks that the
credit union be forced to
terminate its share draft
savings program.
"We feel this case will be
appealed no matter what the
decision," said Lough, "so
eventually this will wind up in
the State higher courts."
The suit would become
meaningless if the state
legislature enacted authorizing
legislation for share draft
savings. Lough pointed out,
however, that the legislature
doesn't return to regular
session until 1981, and he
added, "I don't believe this is
something Governor Clements
has on his mind for a special
session."
Several other states have
already passed legislation
authorizing share draft
accounts, said Lough, and it
does appear likely that
Congress will approve such
accounts for the federally
chartered credit unions.
Lough refrained, however,
from drawing the implication
that share draft accounts
seemed to be here to stay.
"Right now we are just
watching the case at San
Antonio very closely," he said.
HOUSTON, TEXAS 77005
522-138°
READ ME
I'm an ad. I represent Kinko's Graphics, Inc. They
make high quality Xerox copies for 44. They have no
minimums. Overnight rates only 3%4. Dissertations
reproduced on 100% cotton bond 84.50% cotton 74.
Tell them 'ad' sent you.
Kinko's I 2368 Rice Blvd. 521-9465
Kinko's II 2811 Main St. 654-8161
D00NESBUBT <
do you have
any idea there'll be
what a blow anoimsea-
rmu), look, you've 6ctt to
i knquj, get your mind off
but its tanning! whydon't
just so you drive down
ofmdpai- m stupid vi h htu
the famed ^ i'm
celebrity taping a broad
dance hall? cast therefor
are you kid- my wat/ wsco
i cant, mark.
strobe news
dry out the
zonker,
you HAV5
to put all j
that rf -
all of this
son, zonk,
another. shot
at the pros
C' '
has been to
shoou1 what
ding me
me, mark
do you say':
B
mm
studio 54 ? cm0n, zonk, i
no, i don't need someone to
think i'm help me l/utth the
BROADCAST. besides,
tt'll help 6et your
mind off tanning.
it won't matter.
if they are. at
a discotheque, a
man is judged by
his moves, not the.
color of his skin.
not ukely,
mark. the
whole hamp-
tons'sun
deck crowd
is sure to
be there..
absolutely
but. but i
believe mb
disco has a
don't know
he is:
no kid
ding-
its a lot eas
quite up
to that,
man..
totally dif
ier to take
the first
ferbnt value
thing about
care of than
system
a tan! /
polyester!
c ~V. .
(HAPPr
rwvy
4SP*
Cofi \U,a4UuS-
i don't
um.. is he
some sort
of clothes
designer
/
sure. you
and six mil
lion other
john travolta
look-alikes!
&
hjhc ? did
you just
say'who;
ZONKER?
uh-oh..
here we
go again.. \\\(-
kn0wwhyi
togs, man!
even bother
you are
it's me?
underlining
definitely
"time for
ready to
you, man '
Ct
hey! where you no time to
going, zonk? i eat! i got
i just put dinner my dancin'
on.. shoes on!
not true, nr ims
dancing ? my upbringing.
I thought my PARENT5 never
you HATED allowed ME to strut
discos!
my stuff! /
but all that's changed now! i'm
a natural- born boogie child,
and if staytn'auve means get-
tin'doujn, then gettin'doujn is
_ where tm at!
(S v * -,^
ustbnup,
people, ide
, HAS AN AN -
] n0uncement!
; /
" I SHOULD
BE DANCIN',
DANCIN'.. J
DANCIN'!"
MAY I HAVE YOUR ATTENTION,
PLEASE? STUDIO 54 REGRETS ANY
INCONVENIENCE OUR PRIVATE fWTY
; HAS CAUSED THOSE OF YOU WHO
DROVE ALL THE WAY TNTDTHE CTTY.
STUDIO 54 UU ONLY Be "I'M A
ADMITTING CELEBRITIES DANCIN'
TONIGHT, SO THE REST Mi..
OF TOUCAN ALL 60 STAYIN'
/ BACKTOBROOKLYN. ALIVE..'
/
TO MAKE UP FOR IT, LIZA
MINEUI AND BIANCA JAG -
6ER HAVE AGREED TO COME
OUT AND SIGN AUTOGRAPHS
FOR AWHILE.
hill ALL FAMOUS
PEOPLE PLEASE
COVtTOTHE T€AP
OF THE UNE FOR
J-J-J-JIVE
TALKJN'.."
X
we don't ujant
AUTOGRAPHS! we
want to GET IN!
what is more
this, a like a
modern sta6e.
parable? '
hey, call
me a danc-
in'fool! i
don't mind!
THOSE CELEBS doesn't
WH0D0NTIOOK LOOK GOOD
UKE TtCMSELVES, 20VK- '
PLEASE HAVE YOUR / rAkE
CUPPINGS READY. /
take it or
leave it.
if they throw
in halst0n, i,
for one, will
go quietly. _
\ /C.
The Rice Thresher, August 16, 1979, page 3
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Muller, Matthew. The Rice Thresher (Houston, Tex.), Vol. 67, No. 2, Ed. 1 Thursday, August 16, 1979, newspaper, August 16, 1979; Houston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth245408/m1/3/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rice University Woodson Research Center.