About Us

Who we are

Oregon State Credit Union is a state-chartered credit union. Since 1954 the credit union has been a member-owned, not-for-profit financial institution. Earnings are returned to members in the form of competitive financial offerings, more service and convenience. We exist for the benefit of our member-owners, and not to profit from them. That’s what makes us different from banks and how we’re able to create financial solutions that make lives better.

See our annual report here.

Our history

In 1954, Bob Coyle, an Associate Professor of Agriculture at then Oregon State College (now Oregon State University), founded the credit union to serve the unmet financial needs of faculty. With an initial $25 start-up fund kept in a shoe-box, he originally ran the credit union from his desk in Snell Hall (now Ballard Extension Hall). In those early days, when a member needed a loan, Mr. Coyle went from member to member, shoebox in hand, to pull together the necessary deposits to cover the request.

Mr. Coyle put together an official charter and a board of directors comprising members who volunteered their time and shared his passion for the credit union philosophy. Through careful, conservative management, the credit union grew year by year in capital strength, services and field of membership.

By 1960 the Credit Union had reached its first $1 million in deposits and Mr. Coyle became its first paid manager. The following year the first off-campus branch was opened in Corvallis, Oregon at 1605 N.W. Monroe.

Gone are the days when members had to be affiliated with Oregon State University. Today, Oregon State Credit Union is a thriving financial cooperative able to help even more communities. Yes, we’ve grown, but the relationship between savers and borrowers still keeps us strong, as it did in those early shoebox days.

Our guiding principles

Vision – Creating financial solutions to make lives better
Mission – Providing security, service and solutions
Values – Member focus, integrity, passion, education, cooperative spirit, social responsibility

The credit union difference

While both credit unions and banks offer similar products and services (checking, credit cards, mortgages, etc.), it is important to understand how credit unions are unique and different, and why we remain a necessary and extremely popular financial alternative for millions of Americans.

Not-for-profit – Credit unions are not-for-profit financial cooperatives. We exist to serve our members, not to deliver a profit to stockholders. Unlike other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of competitive financial offerings, more service and convenience.
Taxation – Credit unions do pay taxes – payroll taxes, sales taxes and property taxes. Congress exempts credit unions from federal income taxes. The exemption was established in 1937, affirmed by statute in 1951, and re-affirmed in 1998.
Ownership – Credit unions are an economic democracy. Each credit union member has equal ownership — regardless of how much money a member has on deposit. At a credit union, all members are owners.
Board of directors – Each credit union is governed by a board of directors, elected by and from the credit union’s membership.
Membership eligibility – By current statute, credit unions cannot serve the general public. Individuals and businesses/organizations qualify for a credit union membership through their employer, organizational affiliations like religious groups, or community.
Financial education for members – Credit Unions educate their members, helping them become better consumers of financial services.
Social purpose: people helping people – Credit unions exist to serve their members’ financial needs, not provide a profit to third party investors. They know their credit union will be there for them in bad times, as well as good. The same people-first philosophy is at the heart of why credit unions and our employees get involved in the local community through charitable and other worthwhile causes.

From Credit Union National Association

Are you eligible for membership?

  • As a state-chartered financial cooperative, Oregon State Credit Union’s full selection of services are available to anyone who lives or works in 24 western and central Oregon counties.
  • Our 24 county membership includes: Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Multnomah, Polk, Tillamook, Washington, Wasco, and Yamhill.
  • Always a member. Even if you move to another state, you can keep all your accounts and continue enjoying the benefits of your Oregon State Credit Union membership.

Become a member

Why you should join Oregon State Credit Union

When you compare us to the big banks, the clear difference is in the personalized service you’ll receive – because we’re not-for-profit and working for your financial well-being. Click here to learn more.

Joining is easy

  • Pay a one-time $10 membership fee
  • Deposit $5 into a Basic Savings account. This minimum balance represents your share of the credit union.
  • Open an account or get a loan

Oregon State Credit Union in your community

Our dedication to service goes well beyond financial products and services. As a financial cooperative we take to heart the credit union principle, “Not for profit, not for charity, but for service.” We believe it’s our duty to be a good corporate citizen and actively give back to the many counties we serve in our field of membership.

Above: Credit union representatives
make an annual donation to Western
Oregon University.

Left to right are: Tommy Love, Executive
Director, Western Oregon University
Foundation; Mike Corwin, Business
Development, Oregon State Credit Union;
Molly McDermond, Monmouth Branch Manager,
Oregon State Credit Union; Peggy Mehl,
Regional Branch Manager, Oregon State
Credit Union; Rex Fuller, President,
Western Oregon University.

Oregon State Credit Union gives back

  • Reached 9,518 individuals, more than 8,800 of them youth, benefitting from 402 financial education presentations.
  • Distributed 52 education grants that totaled $15,000 and benefitted 8,204 youth.
  • Donations and grants totaled more than $173,000 benefitting 135 schools and non-profits.
  • Staff volunteerism that tops 8,206 hours for the year, 83% of which was on staff’s own time.
  • Internal staff campaigns for CU for Kids and United Way raised a record $53,000.
  • Teamed with local law enforcement agencies to serve more than 1,400 with free community shred days providing 56,000 pounds of secure sensitive document disposal to combat identity theft and benefit local recycling.
  • Through a series of matched donations, the Oregon State Credit Union team sent $36,000 to the Children’s Miracle Network facilities at Doernbecher in Portland and Sacred Heart in Eugene….this annual effort has totaled $141,000 over the last five years.
  • Joined other credit unions in the annual Credit Unions for Kids programs that have collectively contributed millions of dollars to benefit the Children’s Miracle Network and several children’s hospitals.
  • Through an internal staff campaign, donated more than $17,000 to local United Way charities within our field of membership.
  • Within our 2016 philanthropic giving, dedicated more than $37,500 in scholarships, which includes our Tomorrow’s Leaders Today (TLT) Scholarship program, all designed to make higher education more accessible.
  • Provided financial services tailored to community needs and customized to help low-to-moderate income families achieve their dreams.

Get our annual report here.

Click here for a list of financially supported organizations.

Click here for a list of organizations we volunteer for.

Oregon State Credit Union is committed to education

Scholarships, and classroom grants

Programs and seminars

Everyone benefits from understanding financial basics. We offer free programs and seminars to help people to gain financial knowledge, and—most importantly—establish good habits for wise spending and saving.

Oregon State Credit Union in the news

We have a variety of resources available for the press and media. If you have any questions, please contact Mike Corwin. For transactions and other non-media related questions, please contact our Member Service Center at 800-732-0173.

News releases

Media contact:

Mike Corwin
AVP Public Relations and Business Development
541-714-4286 Office

Oregon State Credit Union ©2017 Oregon State Credit Union

  • PO Box 306
  • Corvallis, OR 97339
  • Phone: 800-732-0173

Routing number : 323274270