Bill Anderson, President and CEO of Mid Oregon Credit Union, announced that Mid Oregon Credit Union reached two significant milestones. The membership has grown to over 20,000, and the lending portfolio surpassed $100 million in loans. Since its inception in 1957, Mid Oregon has provided over $550 million in loans.
Despite the economic downturn, 2009 and 2010 saw loan balances grow by annualized rates of 3.38 percent and 5.37 percent respectively. The $142 million credit union attributes much of its lending growth to the launching of their low interest rate Platinum Visa and new business loans. The Platinum Visa, launched in the fall of 2009, provides a low-cost way for members to finance their credit card debt. This program has already generated more than $3 million in outstanding balances.