OnPoint Community Credit Union

OnPoint Community Credit Union, (colloquially OnPoint), is an American credit union based and headquartered in Portland, Oregon.[1]

OnPoint Community Credit Union
TypeCredit union
IndustryFinancial services
Founded1932
HeadquartersPortland, Oregon, United States
Number of locations
55
Area served
30 counties in Oregon and Southwest Washington
Key people
Robert Stuart, President/CEO board of directors
Katherine Durham, Chairman
Keith Thomajan, Vice chairman
Darren Nakata, Secretary
Greg Chandler, Director
Melissa Damm, Director
Matt Mroczek, Director
Amy Slagle, Director
Felicia Tripp, Director
Margaret "Peggy" Willer, Director
ProductsSavings; checking; consumer loans; mortgages; credit cards; online banking; car loan; home loan, solar loans
Total assets$9.4 Billion USD (2022)
Websitewww.onpointcu.com

It operates 55 branches throughout Oregon and Washington with $9.4 billion in assets and 503,078 members.

Membership

OnPoint is owned and governed by its members and like all credit unions has a field of membership that designates who may join.[2] To qualify for membership one must live or work in one of OnPoint's 30 membership counties in Oregon or Washington.[3]

History
An OnPoint branch in Hillsboro, Oregon

OnPoint was founded in 1932 as Portland Teacher's Credit Union by a group of 16 Portland Public Schools teachers.[4]

In 2003, the credit union considered merging with Oregon Community Credit Union.[5] The merger, which would have been the largest in credit union history, was approved by the boards of both credit unions and was given regulatory approval by the FTC and the NCUA. The merger fell apart in June 2004.[6] While compensation issues such as then-CEO Cliff Dias's $1.6 million salary were cited as possible reasons for the failed merger,[7][8] the credit unions cited philosophical differences, stating that they could not agree on which products or system to use.[9]

In 2005, Portland Teacher's Credit Union was granted a community charter in Oregon and Southwest Washington, thereby expanding membership eligibility. They changed their name to OnPoint Community Credit Union.[10]

In 2021, OnPoint struck a deal with the retailer Fred Meyer, allowing them to open branches within 20 of their stores throughout the Portland metropolitan area.[11]

References
  1. "OnPoint Community Credit Union: Banking, Loans & Credit". OnPoint. Retrieved 2023-10-14.
  2. "How is a credit union different than a bank? | MyCreditUnion.gov". mycreditunion.gov. Retrieved 2023-10-14.
  3. "Join OnPoint Community Credit Union | Become a Member". OnPoint. Retrieved 2023-10-14.
  4. "OnPoint Builds Custom DEI Trainings". Business Matters. July 12, 2021.
  5. Russo, Edward (November 11, 2003). "Credit unions consider merger". The Register-Guard. Eugene, Oregon. p. B1. Retrieved August 5, 2010.
  6. Mosley, Joe (May 29, 2004). "Credit union merger called off". The Register-Guard (Eugene, Oregon). Retrieved October 22, 2010.
  7. "Portland Teachers CU CEO Cliff Dias to Retire Next May". Credit Union Times. August 30, 2005.
  8. Hartley, Brandon (May 3, 2005). "Portland Teachers Credit Union". Willamette Week.
  9. "Portland Teachers Credit Union and Oregon Community Credit Union Come Up Short on $2.3 Billion Merger". Credit Union Times. December 21, 2004.
  10. "Our Story – OnPoint Community Credit Union". OnPoint. Retrieved 2023-10-14.
  11. Oregonian/OregonLive, Jamie Goldberg | The (2021-03-10). "OnPoint Community Credit Union opening 20 branches inside Fred Meyer stores". oregonlive. Retrieved 2023-10-14.
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