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.
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.
- Ready to serve you: Contact us by mail, email or phone. Find branch locations and hours. Or use online account access.
- 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.
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
Scholarships and grants
Tomorrow’s Leaders Today (TLT) high school scholarships
Please note: the application period has ended. We encourage
you to check here in October when applications re-open.
This spring Oregon State Credit Union will award ten $2,000 scholarships to high school seniors. Eligible students must meet the following criteria:
- Be an Oregon State Credit Union member in good standing.
- Open savings and checking accounts prior to February 28 of their senior year.
- Be a graduating high school senior at a high school within our field of membership that includes 24 western and central Oregon counties.
- Plan to attend a two- or four-year Oregon college or university.
- Submit application and official high school transcript by February 28 of their senior year.
Oregon State Credit Union is proud to sponsor the following scholarships.
LBCC/Oregon State Credit Union Community Service Scholarship
To assist worthy students who have contributed to their community and to help local students with their educational goals. Learn more
Western Oregon University/Oregon State Credit Union Scholarship
Established in 2002, this scholarship is awarded to any deserving WOU student. Learn more
Education Grants for Teachers (Kindergarten – 12th Grade)
Please note: Grant funds have been awarded for our January grant cycle. We encourage you to check here when applications re-open in October.
The Oregon State Credit Union Education Grant Program exists to fund materials and supplies for school children (kindergarten through high school) within our field of membership. Awards can be up to $300. We look for educational programming ideas from teachers that enhance, not duplicate, the standard school curriculum.
Examples of successful grants
- Supplies for a renewable energy project
- Books, including audio books
- Materials to build a school green house
- Science supplies
- Educational magazine subscriptions
Open grant cycles for 2017
- 1/3/17 – 1/17/17
- 10/16/17 – 10/27/17
Helpful tips for completing the grant application
- Specify how grant funds will benefit students (K-12)
- Target a significant number of students
- Include detailed learning goals and specifics for how the funds will be used
- Show how the funds can benefit future students
- Document additional funding sources if needed to make the project a success
Oregon State Credit Union will request a project update from all teachers who secure a grant award. Testimonials and/or pictures can be submitted via email to firstname.lastname@example.org.
Testimonials from past grant recipients
- The Oregon State Credit Union education grant allowed us to pilot a program that encouraged 4th and 5th graders to attend school regularly, improve behavior and raise self-esteem. Fifty kids were served and all improved in one or more areas with a long waiting list. This program was so successful we will be adding more clubs next year! Thank you for the help in supporting our kids! — Gail Winden, Robotics; Kim Wyatt, Art; Beth Freeborn, Gardening; Salem-Keizer Public Schools
- We used our educational grant from Oregon State Credit Union to purchase a kiln to serve students in the middle and elementary schools. The kiln has helped our students grow in the visual arts and build the skills they will need in middle and high school. — Mrs. Monroe, Corvallis School District
- An educational grant from Oregon State Credit Union allowed us to buy equipment needed by students in the robotics club. Students use the equipment to design and build Vex robots, developing skills in the areas of engineering and mathematics. — Mr. McCargar, Gervais School District
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
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.
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.
Welcome to the Oregon State Credit Union press center. This section is a great way to see what’s going on at your credit union and what we’re doing in the community.
Investment representative Patrick Crowell has joined Oregon State Credit Union as a CFS* Financial Advisor.
Financial industry veterans Denise Rundell and Patrick Schmerber have been promoted within Oregon State Credit Union to branch manager positions in Newport and Woodburn, respectively.
Daniel Echeverri has been named a mortgage loan officer by Oregon State Credit Union. Echeverri comes to the credit union after four years with Wells Fargo Home Mortgage in Salem.
Oregon State Credit Union has recycled and distributed computer stations to better accommodate the staff at Corvallis nonprofit Community Outreach, Inc.
Financial industry veteran Ron Smith has been named as an external mortgage loan officer by Oregon State Credit Union.
Oregon-based Children’s Miracle Network hospitals Doernbecher and Sacred Heart will benefit from $36,000 generated through an internal campaign at Oregon State Credit Union. This is the fifth consecutive year that the credit union has sent these matched funds to the Children’s Miracle Network and that five-year total now stands at $141,000.
The holidays are a time of family togetherness and celebration. Scammers know you’re busy and distracted. That’s why their schemes are so devilish. They get their own twist around the holidays.
Oregon State Credit Union has named Brandon John as a commercial loan officer, it was announced today by Director of Business Services Josh Whisenhunt.
Get educated about scams targeting students. Read on to discover a few sneaky tricks criminals could use to try to steal your money, and what you can do to increase your personal safety and avoid scams.
Oregon State Credit Union has named Shane Kelley as a Commercial Loan Officer, it was announced today by Director of Business Services Dan Ripplinger.
Michelle Poturich, a 10-year professional in the investment services industry, has joined Oregon State Credit Union as a CUSO Financial Services (CFS)* Financial Advisor, it was announced today by Oregon State Credit Union Director of Investment Services Therese Misner.
Oregon State Credit Union has recycled and distributed 86 computer stations to schools and non-profit organizations throughout the credit union’s field of membership over the past six months.
Check out this video. This animated video discusses the benefits of what it means for a credit union to be a cooperative and goes into the 7 cooperative principles in brief detail.
A credit score is a number assigned to a person which indicates their ability to repay a loan. You probably know that your credit score can affect your ability to borrow money, but it also can impact other aspects of your life. A low credit score can make it harder to rent an apartment, get a cell phone or even land a job.
What’s in store for 2016: New branches in Lincoln City and southwest Corvallis, constructions continues at the Operation Center opening in June, and work is underway for a new computer system too.
Sam Niesslein, a 10-year professional in the local investment services industry, has joined Oregon State Credit Union as a CFS* Financial Advisor.
Bonnie Humphrey-Anderson, Oregon State Credit Union’s Chief Financial Officer, has been recognized by the national trade journal, Credit Union Times, as one of the credit union industry’s “Women to Watch.”
Former Harry and David’s Senior Marketing Manager, Steven Gillen, has been named the new Director of Marketing for Oregon State Credit Union.
Oregon State Credit Union invites the community to a free community document shred day on Saturday, June 22, 10 a.m. to 1 p.m., at the Benton County Fairgrounds.
Mortgage refinancing can be a smart move for many homeowners. Is it right for you? Ask yourself these seven helpful questions.
There is a phishing campaign currently underway that is using emails that appear to be related to TurboTax. The email does not contain a link; however, the email has a .zip attachment that contains malware.
Do you receive Social Security, VA or other federal benefits by paper check? If so, you will need to switch to electronic direct deposit by March 1, 2013.
We’re simplifying our phone access so you only have to remember one number for all your financial needs. Now you can call 800-732-0173 to reach any of our Oregon State Credit Union branches.
Two of the in-state Children’s Miracle Network hospitals will benefit from $25,000 generated through an internal campaign at Oregon State Credit Union.
Oregon State Credit Union has promoted Philomath Assistant Branch Manager Jackie Templeton to Branch Manager at the same location at 1446 Main Street.
The IRS has issued a warning about possible scams targeting consumers in the wake of Hurricane Sandy. Those scams may be carried out by phone, social media, email or in-person solicitations.
Congratulations to Peter Walker our Regional Branch Manager for his outstanding effort throughout the competition for the Next Top Credit Union Executive! The results of the finals competition can be viewed at the contest website, www.nexttopcreditunionexec.com.
Oregon State Credit Union awarded 15 local high school seniors the 14th annual $1000 Tomorrow’s Leaders Today (TLT) college scholarships at its annual meeting April 4 at Corvallis’ Majestic Theater.
There is a new email scam that involves a type of malware called “Gameover”. The scam involves a fake email sent from a Federal Agency attempting to trick you into opening a link to resolve some type of problem with your account or deal with a recent transaction.
Oregon State Credit Union, has distributed 60 computer stations over the past six months to schools and non-profit organizations throughout the credit union’s five-county field of membership.
Oregon State Credit Union, culminated a series of events in celebration of its new Lebanon branch construction with a total of $5,000 awarded to three Lebanon School District-based projects through a vote of the local community.
Thanks to everyone who voted, the first phase of our Lebanon “Cash-4-Kids” contest has ended. The final phase of the contest began August 24 and ended September 13. The results of the contest were announced during the Lebanon Chamber of Commerce’s Business After Hours meeting on September 15.
Oregon State Credit Union, held its grand opening of its relocated Lebanon branch at 3330 Cooperative Way August 24. The site is at the lighted intersection of Highway 20 and Burdell Boulevard in south Lebanon.
Oregon State Credit Union has promoted Albany Assistant Branch Manager Kristin Hyde to lead its new Lebanon branch location at 3330 Cooperative Way.
Oregon State Credit Union, has promoted Lebanon Branch Manager Peter Walker to the position of Regional Branch Services Manager for Linn, Benton and Lincoln counties.
Rhonda Heile-Brown has been promoted to the position of Executive Vice President/Chief Operating Officer with Oregon State Credit Union.
Jim Gibson has been promoted to the position of Vice President for Branch Services with Oregon State Credit Union.
Oregon State Credit Union adds Chief Information Officer Craig Cole to lead future technology services
Craig Cole has accepted the position of Executive Vice President/Chief Information Officer with Oregon State Credit Union.
Oregon State Credit Union is donating 48 computer stations to several school districts throughout its five-county field of membership. Students benefitting from the donations of computers that Oregon State Credit Union has made available are enrolled at Santiam Christian Schools and the high schools in Dallas, Eddyville, Falls City, Lebanon and Central in Independence.
The Oregon State Credit Union member newsletter, Homepage, is delivered to your mailbox or email inbox if you have estatements. Homepage is packed with member stories, announcements and other financial tips to help you save and borrow money wisely.
Get your newsletter here. Inside: The cooperative spirit. Get your tax refund fast. Vet charitable contributions. Annual Meeting. New year resolutions you can keep. Nine myths about credit unions. Investment services.
Get your newsletter here. Inside: Nine no-nos for back-to-school shopping. Giving an allowance can teach good money habits. Dip, don’t swipe your card. Review your insurance annually to get the best value. Service to members makes credit unions different. Two new branches coming. Get your account balance fast with texting. Shred Day. Investment Services.
Get your newsletter here. Inside: Is a home equity line of credit right for you? When is a home equity line of credit a smart choice? Auto loans: pre-approvals and how they help you; payment vs. term length. Upcoming Shred Days. Scholarship winners. New Board members. Mobile check deposit. Using your chip card.
Get the newsletter here. A member’s story: rising from the recession; the high cost of back-to-school needs; planning for college; new branches; Keizer shred day; PIN-less debit; CU difference; Federally insured; Insurance review; investment seminars.
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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.
AVP Public Relations and Business Development