|| 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.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Tuesday, August 26, 2014
BY VIVIAN MCINERNY
Craft beer comes to Mount Angel.
Friday, August 22, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
When business intersects with family, a host of situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.
Wednesday, August 27, 2014
BY AMY MILSHTEIN
Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Thursday, August 28, 2014
OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.
Wednesday, August 06, 2014
BY LINDA BAKER | OB EDITOR
Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.
|The Private 150: Bigger But Leaner|
|The Perfect Food|
|Powerlist: Staffing Firms|
|Taxis Uber Alles?|
|Halliburton to pay $1.1B to settle lawsuits|
|U.S. eating habits improve, except among poor|
|Google tests drone deliveries|
|Abercrombie to remove logos from most clothing|
|FBI investigates JPMorgan 'cyber-attack'|
|GoPro launches camera dog harnesses|
|Snapchat now worth $10B|
First Call Resolution targets employee well-being and client satisfaction.
How six leading foundations are working together for a better Oregon.
Vigilant enters a New Year with a new president.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.
Fifty-one Lane Powell lawyers were recently selected by their peers for inclusion in The Best Lawyers in America® (Best Lawyers) 2015; of those selected, 23 lawyers are from the Firm’s office in Portland, Oregon.
Barran Liebman is proud to announce that Andrew Schpak, a Partner of the firm, has been named Chair of the American Bar Association’s Young Lawyers Division for the 2014-2015 bar year.