(OnPoint Community Credit Union was Ranked No. 5 in Financial Services in the Portland Business Journal | Photo courtesy of OnPoint Community Credit Union)
For the 13th year in a row, the Portland Business Journal has recognized OnPoint Community Credit Union, the largest credit union headquartered in Oregon, as one of the state’s Most Admired Companies. Ranked No. 5 in the financial services category, OnPoint was the only credit union named in this year’s financial services top ten, which also included banks and wealth management firms. The annual list of companies, which is determined by a survey sent to 6,000 CEOs across Oregon and Southwest Washington, evaluates companies across all industries based on innovation, branding and marketing, quality of management, community involvement and quality of products and services.
“As our communities faced unprecedented challenges this year, we are proud to have grown our commitment to financial wellness across Oregon and Southwest Washington,” said Rob Stuart, president and chief executive officer, OnPoint Community Credit Union. “Serving as a financial partner to our members and communities, we see the firsthand impacts of the financial crisis and have responded with unprecedented levels of charitable giving, special support to our members and increased accessibility for our growing membership. We thank Oregon’s leaders and the Portland Business Journal for honoring our ongoing commitment to our members and community.”
Record-breaking year of community, member investment
This year, multiple crises have required people to quickly navigate financial setbacks, government assistance and loan programs, along with a sharp increase in scams and credit card fraud. To support members through these complex challenges, OnPoint offered customized services to address members’ specific needs, including skip pay, special loans, mortgage forbearance, waiving CD early withdrawal penalties and Small Business Administration Paycheck Protection Program loans.
This year’s financial challenges also impacted local nonprofit organizations and the resources and services they provide to their communities. In response, OnPoint distributed a record-breaking $1.65 million in donations to 280 nonprofit organizations across Oregon and Southwest Washington focused on diversity, equity and inclusion as well as education, community development, support of youth and pandemic and wildfire relief.
Historic membership, service area and branch growth
In 2020, OnPoint grew its total membership to more than 415,000 members in Oregon and Southwest Washington and its assets to more than $7.7 billion. The credit union also significantly grew its service area this year, adding 15 new counties to its charter in June 2020, which brought its total to 28 in Oregon and two in Southwest Washington. With this recent charter expansion, more than four million Oregonians are now eligible for OnPoint membership, including those who live or work in Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark counties).
After expanding its charter, in November 2020 OnPoint announced its largest branch expansion in company history with the opening of 20 new branches throughout 2021 in Fred Meyer stores across the region. Additional details regarding OnPoint’s Fred Meyer branch openings will be shared in the coming months. To learn more about a career at one of OnPoint’s new in-store branches, please visit onpointcu.com/careers.
