Brand Story – New in-store branches expand access to financial services.
In 2021, OnPoint Community Credit Union is embarking upon its largest expansion to date, adding 20 new OnPoint branches inside Fred Meyer stores. The OnPoint and Fred Meyer partnership brings together two deeply rooted Pacific Northwest companies with a combined 188-year history of serving their communities.
“For our entire history, we have grown as our community has grown, just as Fred Meyer has done,” said Rob Stuart, OnPoint President and CEO. “When we see a need in our community, we try to fill it through services, innovation and partnerships. We approached Fred Meyer about in-store branches with the goal of making our members’ and their customers’ lives a little easier.”
OnPoint was founded in 1932 by 16 schoolteachers who were looking for a safe place to save their money and provide low-cost loans to teachers and their families. Fred Meyer, founded just 10 years earlier, was built on the vision of providing one-stop shopping to its neighborhood. Both organizations have stayed true to their founding roots, as they have grown throughout the region. Today, OnPoint is the largest credit union headquartered in Oregon with assets of $8.1 billion and serving more than 427,000 members in Oregon and Southwest Washington. Fred Meyer offers its convenient all-in-one shopping model in four states with 132 stores.
Rob Stuart, chief executive officer, and Jackie Dunckley, chief talent officer, presenting a $100,000 donation to De La Salle North Catholic High School in support of its capital campaign to build a new, permanent campus for their students.
Led by new OnPoint Vice President and Regional Manager Cory Freeman, OnPoint is opening its new in-store locations between March and August, and will announce grand openings as they draw near in each community. The existing Salmon Creek Branch in Southwest Washington is also relocating and relaunching within a Fred Meyer store—bringing OnPoint’s total branches to 55 locations.
The in-store locations will provide a full suite of services, including deposits, loans and mortgages, commercial banking, investments, and more. Each branch will also have an OnPoint ATM for added convenience.
OnPoint announced its historic expansion last year after adding 15 counties to its charter, increasing its total to 30 counties across Oregon and Southwest Washington. The expansion also means adding up to 200 local jobs, as well as new philanthropic investments, in those communities.
“We continually draw inspiration from our founding schoolteachers who came together during the Great Depression to fill a critical need,” said Stuart. “As the economic and social need in our region grew throughout 2020, we expanded our charitable giving program to meet the unparalleled challenges. Giving back is in our DNA.”
Members of the OnPoint Keizer Branch team standing in the lobby of the new branch. From left to right: Alexandra Loza, Michael Savory, and Joelle Jackson
OnPoint’s goal this year is to top $2 million in giving, surpassing its $1.6 million record of annual giving in 2020. Last year, OnPoint donated $500,000 above its planned amounts to support vulnerable communities impacted by the pandemic and racial injustice—resulting in a 60% increase in giving over 2019. Those extra funds were distributed to organizations like Meals on Wheels, Black United Fund, Urban League of Portland, Coalition of Communities of Color, Council on Aging in Central Oregon, FOOD for Lane County, Red Cross Cascades Region, and many more.
“We have a responsibility as a community-owned financial institution to provide services and make investments that meet the needs of our members,” added Stuart. “Our expansion is an opportunity to do more for more people. We’re happy to be able to report some hopeful news at a time when we all need to lend a helping hand more than ever.”
Brand stories are paid content articles that allow Oregon Business advertisers to share news about their organizations and engage with readers on business and public policy issues. The stories are produced in house by the Oregon Business marketing department. For more information, contact associate publisher Courtney Kutzman.