Robert A. Stuart,
OnPoint Community Credit Union President/CEO
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Your Money is Safe and Secure with OnPoint
In light of recent turmoil in financial markets and questions we have received from members concerning OnPoint's financial well-being, we would like to take this opportunity to assure you that you can be confident your hard-earned money is safe and secure with OnPoint Community Credit Union. With over 75 years of banking know-how and the strength of 188,000 members behind us OnPoint has grown into a financial institution that, year after year, is financially sound and remains a safe place for your money.
As a member-owned credit union, we carefully review our products and services,
lending processes and business practices on an ongoing basis to ensure we maintain the
integrity of the credit union and interests of our members. As a result of our safe practices,
OnPoint made prudent lending decisions when other lenders didn't. OnPoint has never made "sub-prime"
mortgages - mortgages that have adversely affected other financial institutions and have proven
to be high risk.
OnPoint's financials
underscore that the credit union is well capitalized and well managed. As a financial cooperative,
OnPoint does not rely on the stock market for funding. Plus, all OnPoint account deposits are
insured to at least $250,000 under the National Credit Union Share Insurance Fund (NCUSIF),
administered by the National Credit Union Administration (NCUA). NCUSIF, like FDIC, is
a federally insured fund backed by the full faith and credit of the U.S. government.
Your standard account deposits are federally insured to at least $250,000; if you have a retirement
account with OnPoint, it's insured up to an additional $250,000. For more information about
the insurance that protects your deposits, you'll find these publications helpful.
How Your Accounts Are
Federally Insured is an overview of NCUA insurance.
Your
Insured Funds is a more detailed review of this subject.
In this challenging economic environment, OnPoint is dedicated to promoting the
financial well being of our members and maintaining a safe and secure credit union.
If you have questions concerning this important topic, we invite you to call Member
Services at 503.228.7077, or toll free at 800.527.3932 (Monday - Friday 7am -7pm; Saturday 9 am - 3pm).
A Look Back at 2007
2007 marked OnPoint's 75th anniversary and highlights yet another year of successes for our credit union. As the largest credit union in Oregon, increasing member value is always at the forefront of our efforts. Over the past year, member access to OnPoint's products and services grew with upgrades made to our bill payment and online banking, increased Member Services hours, and expansion of the ATM network.
In 2007 we also continued to make strides in convenience. We opened a full service branch in Beaverton's Murrayhill area and relocated the Gresham branch to a more accessible site. OnPoint also expanded our charter to include Clark and Skamania counties in southwest Washington. The charter expansion will bring additional services to OnPoint's growing member base in southwest Washington.
Our belief in helping make our community a better place was never stronger during 2007. A partnership with Portland Housing Center and Portland Public Schools Foundation resulted in "Our Homes, Our Schools," a program for first time homebuyers that also contributes monetarily to schools and strengthens our neighborhoods. In addition, OnPoint awarded a total of $75,000 to 10 area non-profit organizations in honor of our 75th anniversary.
We've come a long way since our doors opened by that group of 16 schoolteachers back in 1932. With the launch of new mortgage products and a full suite of business deposit products already in 2008, we're excited by our future opportunities. We will continue to work hard every day to honor the spirit of our founders and to keep their vision intact - while remaining focused on providing outstanding value to our members.
Our Mission
The purpose of OnPoint is to promote the financial well-being of our members by being the preferred provider of consumer products and services and to ensure the safety and soundness of our credit union.
Our Vision
- Engage and retain mutually beneficial long-term relationships with members, employees, volunteers, business partners and communities.
- Exhibit distinguished leadership in delivering unsurpassed, sustained member value.
- Provide outstanding financial returns to our membership by delivering totally reliable and competitively superior financial services.
- Vest employees with the responsibility and authority to deliver superior member service.
- Encourage members to assume greater responsibility for achieving their financial goals.
- Serve the needs of our membership without regard to technological or geographical limitations.
- Pursue avenues for increased and sustainable growth.
About OnPoint Community Credit Union
OnPoint Community Credit Union was founded as Portland Teachers Credit Union in 1932 by 16 teachers from Portland Public School District #1. These teachers shared a simple dream: accessibility to safe savings and affordable loans. They formed a nonprofit, financial cooperative where they could safely combine their savings and borrow from each other. While our membership today includes many professions in addition to teachers, our strength still lies in the foundation established by those 16 teachers over 75 years ago.
Each member is an equal owner of the credit union, and each member has an equal vote to elect an unpaid board of directors. The Board of Directors represents the membership and are elected to three-year terms. The Board sets overall strategy for the credit union, while management implements policies and manages the ongoing credit union operations. The Board of Directors also appoints a Supervisory Committee who ensures that the Board and OnPoint management abide by OnPoint's written policy and that OnPoint's financial records are accurate.
Membership in OnPoint Community Credit Union is open to everyone who lives or works in Benton, Clackamas, Columbia, Lane, Linn, Marion, Multnomah, Polk, Washington, and Yamhill counties in Oregon and Clark and Skamania counties in Washington. Membership is also open to family members of current OnPoint Community Credit Union members.
OnPoint has over 188,000 members and over $2.6 billion in assets. You may view the 2007 annual report online or to request a printed copy contact us at info@onpointcu.com or stop by any branch.
Credit Union deposits are federally insured by the National Credit Union Administration.
Management
- Robert A. Stuart, President/Chief Executive Officer
- Jim Armstrong, Senior Vice President/Human Resources
- Gary Lawrence, Senior Vice President/Chief Risk Officer
- Tory McVay, Senior Vice President/Retail Delivery
- Kelly Schrader, Senior Vice President/Member Services
- Kelle Summerfield, Vice President/Branch Manager
- Michele DeBuhr, Vice President/Organization Effectiveness
- Veronica Ervin, Vice President/Controller
- Dick Gregory, Vice President/Branch Manager
- Elaine Pratt, Vice President/Branch Manager
- John Stevens, Vice President/Operations
- Cecile Wood, Vice President/Member Services
Board of Directors effective March 16, 2007
- Steve Gray, Chair
- Wayne Pederson, Vice Chair
- Maureen Scally, Secretary
- Lori Freeman
- Michael Jordan
- Keith Morris
- Steve Nicholson
- Darrell Tucker
- Fred Wong
Supervisory Committee
- Rick Morine, Chair
- Wes Davis
- Lee Lancaster
- Brent Macey
Executive Committee
- Steve Gray, Chair
- Wayne Pederson, Vice Chair
- Maureen Scally, Secretary
- Robert A. Stuart, Treasurer
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