Credit Unions: Good for Consumers, Careers and Businesses

Read the full report here.

Oregon Business Magazine readers are getting a strong dose of credit union love this month. The magazine published the annual Credit Union Report in its most recent edition.

A key theme: Credit unions help Main Street businesses to thrive. Charlie Hopkins, Business Development Lending Officer for Unitus Community Credit Union, reports that Unitus grew business lending exponentially throughout the Great Recession and continues to do so during the economic recovery. The credit union loaned $5 million to local businesses in 2008, and a whopping $51 million last year. Hopkins profiles a member success story in his first-hand report.

Also speaking directly to the magazine’s target reader-audience is OnPoint Community Credit Union CEO Rob Stuart.

“As a community credit union, we work to make sure that local businesses have the extra help they need to achieve and maintain their success,” Stuart noted.

Oregon Community Credit Union’s advertisement showcased the ease of banking with a credit union through conveniences such as networked ATMs and mobile banking apps.

Expanding on the convenience theme was Northwest Credit Union Association President and CEO Troy Stang. In an op-ed, Stang detailed the $80 million Oregon’s nearly 1.5 million credit union members collectively saved last year – the result of lower fees, better loan rates and more interest paid on their savings. He also noted the cooperative structure of credit unions would appeal to the 34 percent of Oregonians who volunteer.

“As cooperatives, credit unions attract employees and members who want to give back,” Stang noted.

Stang encouraged the magazine’s business-savvy readers to put their skill sets to work in a credit union. Upward mobility, he noted is “part of the credit union DNA.”

“Good credit union leaders are as focused on readying you to run the organization as they are on serving the members.”

Oregon Business Magazine’s Credit Union Report can be read online.

Questions about this story? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in NWCUA.