OnPoint Community Credit Union
{{Infobox company
| name = OnPoint Community Credit Union
| logo = OnPoint Logo.png
| image = Lumbermen's Building - Portland, Oregon, 2011.jpg
| image_caption = Oregon Trail Building, home of OnPoint's corporate headquarters.
| type = Credit union
| industry = Financial services
| foundation = 1932
| location = Portland, Oregon, United States
| 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
| products = Savings; checking; consumer loans; mortgages; credit cards; online banking; car loan; home loan, solar loans
| assets = $9.4 Billion USD (2022)
| homepage = [https://www.onpointcu.com/ www.onpointcu.com]
}}OnPoint Community Credit Union, (colloquially OnPoint), is an American credit union based and headquartered in Portland, Oregon.{{Cite web |title=OnPoint Community Credit Union: Banking, Loans & Credit |url=https://www.onpointcu.com/ |access-date=2023-10-14 |website=OnPoint |language=en-US}}
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.{{Cite web |title=How is a credit union different than a bank? {{!}} MyCreditUnion.gov |url=https://mycreditunion.gov/about-credit-unions/credit-union-different-than-a-bank |access-date=2023-10-14 |website=mycreditunion.gov}} To qualify for membership one must live or work in one of OnPoint's 30 membership counties in Oregon or Washington.{{Cite web |title=Join OnPoint Community Credit Union {{!}} Become a Member |url=https://www.onpointcu.com/join/ |access-date=2023-10-14 |website=OnPoint |language=en-US}}
History
File:OnPoint Credit Union at Crossroads at Orenco Station - Hillsboro, Oregon.JPG]]
OnPoint was founded in 1932 as Portland Teacher's Credit Union by a group of 16 Portland Public Schools teachers.{{cite news |title=OnPoint Builds Custom DEI Trainings |url=https://businessmatters.oregonstate.edu/onpoint-builds-custom-dei-trainings/ |work=Business Matters |date=July 12, 2021}}
In 2003, the credit union considered merging with Oregon Community Credit Union.{{cite news|first=Edward|last=Russo|title=Credit unions consider merger|newspaper=The Register-Guard|location=Eugene, Oregon|date=November 11, 2003|url=https://news.google.com/newspapers?id=4VJWAAAAIBAJ&sjid=BOwDAAAAIBAJ&pg=6299%2C2610245|page=B1|accessdate=August 5, 2010}} 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.Mosley, Joe (May 29, 2004). [http://goliath.ecnext.com/coms2/gi_0199-408168/Credit-union-merger-called-off.html "Credit union merger called off"]. The Register-Guard (Eugene, Oregon). Retrieved October 22, 2010. While compensation issues such as then-CEO Cliff Dias's $1.6 million salary were cited as possible reasons for the failed merger,{{cite news |title=Portland Teachers CU CEO Cliff Dias to Retire Next May |url=https://www.cutimes.com/2005/08/30/portland-teachers-cu-ceo-cliff-dias-to-retire-next-may/?slreturn=20230923130518 |work=Credit Union Times |date=August 30, 2005 |language=en}}{{cite news |last1=Hartley |first1=Brandon |title=Portland Teachers Credit Union |url=https://www.wweek.com/portland/article-4372-portland-teachers-credit-union.html |work=Willamette Week |date=May 3, 2005 |language=en}} the credit unions cited philosophical differences, stating that they could not agree on which products or system to use.{{cite news |title=Portland Teachers Credit Union and Oregon Community Credit Union Come Up Short on $2.3 Billion Merger |url=https://www.cutimes.com/2004/12/21/portland-teachers-credit-union-and-oregon-community-credit-union-come-up-short-on-2-3-billion-merger/ |work=Credit Union Times |date=December 21, 2004 |language=en}}
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.{{Cite web |title=Our Story – OnPoint Community Credit Union |url=https://www.onpointcu.com/our-story/ |access-date=2023-10-14 |website=OnPoint |language=en-US}}
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.{{Cite web |last=Oregonian/OregonLive |first=Jamie Goldberg {{!}} The |date=2021-03-10 |title=OnPoint Community Credit Union opening 20 branches inside Fred Meyer stores |url=https://www.oregonlive.com/business/2021/03/onpoint-community-credit-union-opening-20-branches-inside-fred-meyer-stores.html |access-date=2023-10-14 |website=oregonlive |language=en}}