Los Banos Rotary Club History
Merced Credit Man Is Speaker Here

"Credit is the force that puts the good things of life into the hands of the people," asserted Don Blauert, manager of the Credit Bureau of Merced, in a talk before the Los Banos Rotary Club Tuesday.

Credit buying is largely responsible for the high standard of living we know today. Blauert asserted, helping to move raw materials from the mines and farms to the factories, from factories to warehouses, to the store and finally from the store in consumer.

Blauert said 95 per cent of the people use credit in one form or another, and that 90 per cent of those who apply are good risks to whom merchants can expect to sell merchandise or services safely. Of every 10 credit purchasers, seven can be relied upon to pay regularly and promptly; two have the same virtues but must be watched and guided to be sure their credit is not extended beyond their means. The lone one out of ten, he said, is about equally divided between the new comer, to whom credit is always a risk until past credit history can be ascertained, and that member of society who stumbles along, getting credit where and as often as he can, paying nothing or as little as possible in return, and completely irresponsible as to his credit obligations. This 5 per cent of credit risks, Blauert emphasized, can easily lose for the merchant the normal profit on 25 similar sales.

To point out what constitutes good credit and a good credit rating, Blauert read two credit bureau reports, one covering the 90 per cent cases and the other covering the 5 per cent casualties.

The speaker was introduced by Rotarian A. P. Machado, of the West Side Credit Bureau Association.

September 16, 1955

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