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|Articles - June 2014|
|Thursday, May 29, 2014|
Page 1 of 3
BY KIM MOORE
OB: How has the economic recovery affected your lending strategy?
RC: After the downturn, consumer loan demand decreased. Now that the economy has recovered, we have seen the pent-up demand by consumers lead to a robust recovery in the auto-loan industry. Our auto portfolio increased by 71% last year. We also saw an increase in homeowner refinances, but that seems to be slowing a bit. With real estate values once again moving in a positive direction and with rates still relatively low, we have turned our focus toward the purchase market for mortgage loans.
OB: Are more businesses coming to you for loans because of the economic recovery?
RC: Yes. Our commercial-loan portfolio grew 41% last year. During the downturn, as commercial banks backed away from the market, we experienced an increase in demand for commercial lending and are still seeing robust activity. Predominantly, we are a commercial real estate lender; however, we are looking at additional opportunities to better serve the small-business community.
OB: How do you distinguish yourself from other financial institutions?
RC: Our biggest challenge isn’t differentiating from other credit unions — it’s simply creating awareness of credit unions in general. There is still an education gap as to what credit unions are and what services we provide. When we are trying to distinguish Advantis, we like to rely on the fact that we have served the Portland area for more than 85 years, are stable, are financially sound and are consistently rated as a best value for consumers.
OB: Why do you think there is not much public awareness of credit unions?
RC: Nationally, there have been efforts to increase public awareness of credit unions. However, we still have work to do. I think of how the “Got Milk?” campaign raised awareness of the benefits of milk, and I think the credit union industry could benefit from the same type of campaign. The overall message of credit unions formed as cooperatives and returning earnings to members in the form of lower fees and better interest rates is a positive one.
OB: Credit unions still represent a small section of the financial services sector. Do you see any potential for future growth?
RC: There is significant opportunity for growth, particularly as consumers are looking for other options and a better value after the financial crisis. However, the nature of our cooperative model puts a restriction on our growth. Credit unions must maintain appropriated levels of capital and can only increase capital through earnings. This restriction is both a plus and a minus, as it ensures financial stability but limits how quickly we can grow.
Thursday, September 25, 2014
BY HANNAH WALLACE
Well-financed outsiders from France and California are buying up vineyards and wineries in the Willamette Valley.
Friday, September 19, 2014
BY TOM COX | OB BLOGGER
How can you tell if you, a peer, a subordinate or a job candidate has the emotional intelligence needed to do well?
Tuesday, August 26, 2014
BY KIM MOORE
The ubiquitous fast-food restaurant may be on the decline.
Monday, September 29, 2014
BY LINDA BAKER | OB EDITOR
Wehby disappears, Kitzhaber fails to disclose and Seattle gets bike share before Portland.
Thursday, August 28, 2014
OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.
Monday, August 18, 2014
Portland is in the middle of another construction boom, with residential and office projects springing up downtown, in the Pearl and Old Town. OB Web Editor Jessica Ridgway documents the new wave.
Thursday, September 25, 2014
National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.
|A Good Leap Forward|
|A Taste of Heaven|
|Fast Food Slows Down|
|Tight and Loose|
|Startup or Grow Up?|
|DreamWorks Animation may have a Japanese suitor|
|Yahoo, AOL propose merger|
|Cadillac brand to rename its vehicles|
|Early memory lapses could be signs of dementia|
|Jimmy John's chain reports data breach|
|Apple pulls iOS software update|
|Walmart to offer checking accounts|
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