Oregon’s largest credit union opened 20 branches inside Fred Meyer stores in 2021, expanding access to critically needed financial services in communities across the region.
PORTLAND, Ore., May 26, 2022— OnPoint Community Credit Union is celebrating the one-year anniversary of opening 20 new branches inside Fred Meyer stores; the largest branch expansion of any credit union in the country last year, according to S&P Global Market Intelligence. Today, OnPoint operates 55 branches in Oregon and Southwest Washington and serves more than 480,000 members with $9.4 billion in assets. In honor of hitting this historic branch growth milestone, OnPoint will donate $1,000 to 20 different non-profits that serve the communities of OnPoint’s new branches. Donations will go to organizations such as the African American Alliance for Homeownership, Marion Polk Food Share and the National Alliance on Mental Illness Southwest Washington. OnPoint is also hosting celebratory events at all Fred Meyer branches with member promotions and community giveaways, today through July 30, 2022.
“Despite all the challenges facing our communities, we were proud to open 20 new locations and provide essential financial services,” said Rob Stuart, President and Chief Executive Officer, OnPoint Community Credit Union. “Access to in-person financial services and education is more important than ever as our communities continue to navigate an increasingly complex economy. Working with a community pillar like Fred Meyer allows us to meet members where they are and connect with them on a deeper level, so we can fully understand their challenges and create a roadmap to help them accomplish their goals.”
Special promotions and branch details
In celebration of its vast growth and the new member and community connections it has forged over the last year, OnPoint is offering special promotions from today through July 30 in all 20 in-store Fred Meyer branches. Specific promotions include:
- $100 when you open a membership with a checking account1
- $50 for opening a new credit card2
- $800 off closing costs on a first mortgage3
- Up to $175 off a home equity line of credit4
- 0.25% off standard consumer loan rates5
- 0.25% APY increase on any published CD rate6
In addition to the special promotions, each in-store branch will host weekly giveaways for $100 OnPoint Visa gift cards. Branch staff will also hold raffles for gift baskets and OnPoint branded merchandise.
Access to financial services builds strong communities
OnPoint’s historic growth in the last year has helped ensure communities that were previously under- or un-banked now have convenient access to financial services. Over the last three decades, the number of banking institutions has declined by 66%, with the nearly 18,000 branches operating in 1984 dwindling to fewer than 5,000 in 2021. As financial institutions continue to close, “branch deserts” have emerged in lower-income and minority communities, requiring residents to travel long distances to access in-person financial services, according to the National Community Reinvestment Coalition (NCRC).
“Working so closely with our communities, we hear time and again how important access to in-person financial services is for individuals, families and businesses,” said Cory Freeman, Vice President and Regional Manager, OnPoint Community Credit Union. “When a community loses access to financial services, residents may turn to alternatives that are more expensive and sometimes unscrupulous, such as check-cashing stores or payday lenders. Branch closures also create barriers for small businesses, many of which are located in communities of color. When local entrepreneurs lose access to in-person banking, securing the loans they need to expand their business can be more challenging. We are pleased to fill this gap and look forward to supporting more residents and small business owners in our second year of operation within Fred Meyer stores.”
Charitable Giving Grows Alongside Network of Branches
As OnPoint has expanded its geographic footprint, it has also increased its support of the communities it serves, donating $2.2 million in 2021 to 304 non-profits across Oregon and Southwest Washington. A new record for the credit union’s annual giving program, OnPoint’s donations focused on education, climate change, services for vulnerable groups of people, and diversity, equity and inclusion. As part of their giving efforts this year, OnPoint will donate $1,000 to 20 different non-profits that serve the communities of OnPoint’s in-store branches. Click here to learn more about the many ways OnPoint invests in its communities.
Below is the full list of OnPoint’s 20 new in-store branches. Visit onpointcu.com/locations-atms/ to view the full list of OnPoint’s 55 branches and 60,000 surcharge-free ATMs nationwide.
- Sandy, 16625 SE 362nd Dr., Sandy, OR 97055
- East Gresham, 2497 SE Burnside Rd., Gresham, OR 97080
- Cornelius, 2200 Baseline St., Cornelius, OR 97113
- South Hillsboro, 6495 SE Tualatin Valley Hwy., Hillsboro, OR 97123
- 158th Walker Rd, 15995 SW Walker Rd., Beaverton, OR 97006
- Beaverton Town Sq, 11425 SW Beaverton Hillsdale Hwy., Beaverton, OR 97005
- Hollywood, 3030 NE Weidler St., Portland, OR 97232
- 67th & Glisan, 6615 NE Glisan St., Portland, OR 97213
- Scappoose, 51501 Columbia River Hwy., Scappoose, OR 97056
- Burlingame, 7555 SW Barbur Blvd., Portland, OR 97219
- Tigard, 11565 SW Pacific Hwy., Tigard, OR 97223
- Tualatin, 19200 SW Martinazzi Ave., Tualatin, OR 97062
- Johnson Creek, 8955 SE 82nd Ave., Portland, OR 97266
- South Salem, 3450 Commercial St. SE, Salem, OR 97302
- Albany, 2500 Santiam Hwy. SE, Albany, OR 97322
- Santa Clara, 60 Division Ave., Eugene, OR 97404
- Springfield, 650 Q St., Springfield, OR 97477
- Salmon Creek, 800 NE Tenney Rd., Salmon Creek, WA 98685
- Orchards, 7411 NE 117th Ave., Vancouver, WA 98662
- Hazel Dell, 7700 NE Highway 99, Vancouver, WA 98665
ABOUT ONPOINT COMMUNITY CREDIT UNION
Founded in 1932, OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 480,000 members and with assets of $9.4 billion. OnPoint membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. More information is available at www.onpointcu.com or 800-527-3932.
- Consumer bonus: To qualify, individuals must open a new membership with a personal checking account and receive direct deposit of at least $500 to that account within 60 days of the open date. A bonus of $100 will be credited to their checking account approximately 60 days after new account is opened. Accounts must be open and in good standing at time of payout to receive bonus. As of 5/1/22, APY (annual percentage yield) for Interest Checking is 0.05%. APY is subject to change. $500 minimum balance for Interest Checking; no minimum balance for OnPoint Checking. When Interest Checking average monthly balance falls below $500, a $7 monthly service fee applies. Fees may reduce earnings. Bonus will be included on a 1099-INT for tax purposes. Cannot be combined with other offers for opening a new membership, such as OnPoint Savers or Refer a Friend. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations. Offer valid through 7/30/22 and subject to change. The Fred Meyer consumer bonus is not available to existing members. Business bonus: To qualify, a new membership must be opened with a business checking account and receive $500 in deposits to that account within 60 days of the open date. A bonus of $100 will be credited to their business checking account approximately 60 days after new account is opened. Accounts must be open and in good standing at time of payout to receive bonus. Bonus will be included on a 1099-INT for tax purposes. Cannot be combined with other offers for opening a new membership, such as OnPoint Savers or Refer a Friend. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations. Offer valid through 07/30/22 and subject to change. The Fred Meyer business bonus is not available to existing members.
- To qualify, individuals must apply for a credit card by 07/30/22. To earn the $50 bonus this must be a new Visa relationship. Bonus does not apply to existing Visa loans that are transferred or converted to a new card. Applicants who are approved by 8/15 will be credited a bonus of $50 to their savings account on or around 8/30/22. To be eligible for this bonus offer, credit card account must be open and not in default at the time of fulfillment. Bonus will be included on a 1099-INT for tax purposes. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations and subject to change.
- OnPoint will waive up to $800 off the closing costs on any new first mortgage purchase or refinance. This offer applies to all OnPoint Mortgage standard products and cannot be used in combination with any other OnPoint Mortgage promotional offers. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations. Offer valid through 07/30/22 and subject to change.
- OnPoint Community Credit Union will waive up to $175 off closing costs on any new EquityFlex Line of Credit product. This offer applies to standard rate EquityFlex Line of Credit products and cannot be used in combination with any other EquityFlex Line of Credit promotional offers. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations. Offer valid through 07/30/22 and subject to change.
- OnPoint will take 0.25% off standard consumer fixed APR (Annual Percentage Rate) loans. This offer excludes line of credit products, mortgage products, and the refinance of existing OnPoint loans. Auto payment from an OnPoint Checking or Savings account is required. This offer applies to standard consumer loan rates and cannot be used in combination with any other consumer loan promotional offers. Offer only available at OnPoint Community Credit Union’s Fred Meyer locations. Offer valid through 07/30/22 and subject to change.
- APY = Annual Percentage Yield. OnPoint Community Credit Union will add 0.25% to Certificate of Deposit (CD) rates. This offer applies to all OnPoint CD products and cannot be used in combination with any other CD promotional offers. Offer only available at OnPoint Community Credit Union’s Fred Meyer Locations. Offer valid through 07/30/22 and subject to change.
Promotion period ends July 30, 2022.
Click here for the 2022 OnPoint Fred Meyer Branch Anniversary Prize Raffle Official Terms and Conditions.