Oregon Credit Unions Bring Credit Union Difference to Elected Officials
March 31, 2015
March 31, 2015
Advocacy Army Descends on Salem for Credit Union Day
Oregon credit union advocates plan visits to the offices of all 90 elected state representatives and senators today, to message how the cooperative structure of credit unions brings economic value to Main Street and positively impacts communities.
Armed with the 2015 Northwest Credit Unions’ Economic Impact Report — an analysis performed by the independent firm ECONorthwest — the advocates will detail how the $103 million in direct benefit value returned to 1.63 million Oregon credit union members produced a ripple effect buying power of $206 million. Credit unions, ECONorthwest found, had an overall economic impact of $1.9 billion.
Credit-union-backed legislation is advancing as the advocates visit Salem. House Bill 2893, the bill that permits financial institutions to offer prized-linked savings accounts — passed the House Business and Labor Committee by a unanimous vote. The bill is scheduled for a vote on the House floor later in the week or early next week.
Earlier this month, SB 582, the bill to update the Oregon credit union charter, passed the Senate. It now moves on to the Oregon House, where it will receive a reading and a committee referral.
Positive Media Messages
Oregon legislators have likely already noticed a series of positive credit union messages in local media. Advertising promoting the economic impact report has been running this week in the Salem Statesman Journal. In addition, the paper published an op-ed Monday by Jean Wheat-Palm, president and CEO of Salem based Valley Credit Union.
Virtual Family Comes to Salem
Making its debut at Credit Union Day at the Capitol will be a prototype “home” of a credit union family. The Northwest Credit Union Association created a fabricated, four-walled house where a typical credit union family — the Garcias — live. Displays detail how families such as the Garcias can leverage credit union membership to improve their home, start a business, buy a car and more.
Questions about this story? Contact James Pearson: 206.340.4790, email@example.com.