|| Print ||
|Articles - June 2013|
|Tuesday, May 28, 2013|
BY MANDY JONES
My mentor was my dad, who owned a small business in Milwaukie, Oregon. He taught me the importance of businesses being involved in their community and the joy of making a difference in people’s lives. He was not surprised when I chose to work in credit unions. Today I’m CEO of Oregon’s second largest state-chartered credit union, and I love going to work every day, making a difference in the lives of our members, employees and the communities we serve.
Credit unions have been so focused on serving communities and providing excellent financial services to members that we have failed to tell our story — who we are and what makes us different. Here are some key facts I hope you find interesting.
1. We are people helping people.
Many credit unions were started by pioneer member-owners who began the business in the garage of someone’s home and pooled their funds in a shoebox. The focus was always clear: providing access to credit for people who could not seem to get it at the local bank. Fast forward and today you find 71 Oregon credit unions and thousands of stories annually about members who need help — and get it —from their credit union.
Even in this tough economy, credit unions understand that “bad things happen to good members.” In the last three years, credit unions have continued to loan and work diligently to help members who have lost their jobs to keep their autos and stay in their homes. These efforts have helped stabilize families during the worst economic downturn since the Great Depression.
At Oregon Community, we helped more than 500 members in 2012 alone with special workout loans that adjusted rates or payments on auto loans and mortgages.
2. It’s all about the members.
Credit unions are member-owned, not-for-profit financial cooperatives. That means everyone who becomes a member owns a piece of the rock. No shareholders. No paid board of directors focused on profits. Every decision the credit union board and management makes takes members into consideration first. Decisions such as convenience, rates, branches, technology, products and services are all made to support the needs of the membership. Over a million residents in Oregon belong to a locally owned credit union, and that number is growing.
3. Everybody benefits.
Credit unions are a positive influence on all financial services in the communities where they do business. Here in Oregon, credit unions hold a small percent of market share, but even so, we effectively help to control costs and maintain the rate environment for everyone. Research shows that when credit unions are in a market, all loan and deposit rates are positively impacted.
In 2012 Oregon credit unions put more than $110 million back into the pockets of members as a result of lower loan rates, free checking, higher rates on savings and other benefits. That works out to an average of $152 per credit union household. That’s real money our members didn’t spend to get access to vital services like credit and a safe place to keep savings. Given the cost of groceries or gas these days, that’s a great reason to be a credit union member.
4. “Community” is our middle name.
Credit unions have a well-deserved reputation for superior service and being the kinder, gentler financial institutions. But it’s not just our members who benefit. Community service is in our DNA. For example, Oregon Community Credit Union is the single largest corporate scholarship sponsor at the University of Oregon. UO is where our membership started. Our members believe in supporting education, so it only makes sense to give back through scholarships for Oregonians, many of whom are the first of their families ever to go to college. Along with supporting other scholarship programs in 2012, Oregon Community also donated over half a million dollars, and our employees volunteered over 2,000 hours to help our members have the opportunity to live in a vibrant and prospering community by supporting many nonprofits.
The simple truth is 1.3 million Oregonians have figured out that being a member-owner of a credit union is their first choice when it comes to financial services.
Mandy Jones is CEO of Oregon Community Credit Union.
Wednesday, August 19, 2015
BY JACOB PALMER
A Power Lunch at Bob's Red Mill Whole Grain Store and Restaurant.
Wednesday, August 05, 2015
BY KEN MAES
A huge migration from Northern California has contributed to average 16% growth per year since 1990.
Friday, July 10, 2015
BY GREGG MORRIS
Rita Hansen aims to scale natural gas vehicle innovation.
Wednesday, July 15, 2015
We asked readers to weigh in on the fossil fuel-green energy equation.
Wednesday, August 19, 2015
BY GINA BINOLE
Screening for “culture fit” has become an essential part of the hiring process. But do like-minded employees actually build strong companies — or merely breed consensus culture?
Monday, July 13, 2015
BY KIM MOORE
Revenues in Oregon's private, for profit sector maintained solid growth as the economy continued to rebound.
Friday, July 17, 2015
Photographer Jason Kaplan takes a look at Murray's Pharmacy in Heppner. The family owned business is run by John and Ann Murray, who were featured in our July/August cover story: 10 Innovators in Rural Health Care.
|Child care challenge|
|Is there life beyond Reed?|
|Back to School|
|A Bouquet of Beer in Bend|
|Obama aims to restore rights for workers|
|Apple's next new product event: Sept. 9|
|Washington meat producer recalls pork|
|Ninkasi grows to NY|
|Eco challenges facing Oregon|
|Adidas produces special shoe for upcoming Timbers/Sounders match|
Yesterday, a divided National Labor Relations Board dropped another hammer on the employer community. In a long-awaited and much debated move, the Board jettisoned the decades old standard for determining when two independent businesses should be considered joint employers of an individual worker for collective bargaining purposes.
Transforming the culture of Oregon’s educational leadership.
The Board dismissed a petition related to efforts to unionize the Northwestern University football team.
Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.