Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, August 3, 1995 TAG: 9508030041
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
N&W Federal Credit Union said Wednesday it will open a branch in Salem in early October and expand its office in Southwest Plaza.
The new branch in West Salem Plaza formerly was occupied by Signet Bank. It will have five employees, drive-up service, safe-deposit boxes and a walk-up automated teller machine to serve the credit union's 4,000 members in Salem and surrounding areas, President Dick Williams said.
The expansion of the Southwest Plaza office on Virginia 419, to begin in September, will add more than 700 square feet to the facility. It will add safe-deposit boxes and a walk-up ATM. The target for completion is mid-October.
-Staff report
Greenspan: Healthy S&L fund is priority
WASHINGTON - Federal Reserve Chairman Alan Greenspan on Wednesday urged Congress to expand the reach of the nation's savings and loans but said the first priority should be addressing the problem of the industry's depleted deposit insurance fund.
A House Banking subcommittee on financial institutions called Greenspan and four top bank regulators to discuss the Clinton administration's rescue plan for the Savings Association Insurance Fund.
The fund has just $2.2 billion in reserves to cover $704 billion in insured deposits and could be wiped out with the failure of just one large thrift, said Ricki Helfer, chairman of the Federal Deposit Insurance Corp.
-Associated Press
DuPont counters ex-workers' lawsuit
DuPont is denying age discrimination charges and other allegations in a lawsuit by former employees of its Martinsville nylon plant.
DuPont filed papers Tuesday to counter a May 26 suit in U.S. District Court in Wilmington, Del., brought by 170 former employees who said they were effectively coerced to quit by rigorous cross-training policies the company introduced in 1993.
DuPont has asked a judge in Wilmington to move all proceedings to the federal court in Danville.
-Staff report
MCI to eliminate at least 2,500 jobs
WASHINGTON - MCI Communications Corp. on Wednesday said it would reduce its nationwide work force by 2,500 to 3,000 employees as part of a broad restructuring plan.
The company also announced agreements under which five cellular-telephone companies will provide wireless communications services under the MCI brand name. The deal includes partnerships with GTE Corp.'s Mobilnet, BellSouth Corp., AT&T Corp.'s McCaw division, Frontier Corp. and NewPar, a joint venture of AirTouch Communications and Cellular Communications Inc.
MCI employs 41,000 people nationwide.
-Washington Post
by CNB