The new partnership will revolve around investment and wealth management services.
ST. PETERSBURG, Fla. and PORTLAND – John W. Houston, managing director of the Financial Institutions Division of Raymond James, announced that OnPoint Community Credit Union, headquartered in Portland, Oregon, has partnered with and will offer investment and wealth management services to its clients through Raymond James Financial Services, Inc.
“OnPoint is proud to have offered our members access to high quality investment choices for more than 10 years,” said Rob Stuart, president and CEO of OnPoint Community Credit Union. “This transition to Raymond James gives our members even more options to help secure their financial future. With more robust offerings and added educational tools, this new relationship will provide our clients access to one of the most respected investment firms in the country.
“The Raymond James team has worked closely with our OnPoint investments team to ensure this transition was as smooth as possible for our members and our OnPoint team. I know both our advisors and their clients are going to enjoy this unparalleled level of client service.”
OnPoint offers a complete line of commercial, retail banking and investment management products and services for its members. Led by program manager Bill Keith, the investment services team consists of eight advisors, who manage approximately $219 million in client assets.
“It’s a pleasure to welcome OnPoint’s experienced investments team to our Financial Institutions Division,” said Houston. “Their longstanding commitment to their community and members aligns with our focus here at Raymond James. We are delighted they chose to partner with us, and we look forward to providing the sophisticated products and services, the integrated technology and comprehensive support they need to continue to grow.”
OnPoint was founded in 1932 as a place where local schoolteachers could save their money and where those looking to build a better life could find low-cost loans. In 2005, the credit union was granted a community charter, allowing it to serve a larger number of members. To reflect the expanded membership, the name was changed from Portland Teachers Credit Union to OnPoint Community Credit Union. Over the past 82 years, OnPoint has grown to be the largest community-owned financial institution in Oregon, serving more than 276,000 members in 13 Oregon counties and two SW Washington counties.
About Raymond James Financial Services
Raymond James Financial Services, Inc. is a financial services firm supporting more than 3,200 financial advisors nationwide. Since 1974, Raymond James Financial Services Inc., member FINRA/SIPC, has provided a wide range of investment and wealth planning related services through its affiliate, Raymond James & Associates, Inc., member New York Stock Exchange/SIPC. Both broker/dealers are wholly owned subsidiaries of Raymond James Financial, Inc. (NYSE-RJF), a leading diversified financial services company with more than 6,200 financial advisors serving in excess of 2.5 million client accounts in more than 2,500 locations throughout the United States, Canada and overseas. Total client assets are approximately $486 billion.
About the Financial Institutions Division
The Financial Institutions Division was established by Raymond James in 1987 to provide banks and credit unions with an alternative to traditional third-party investment providers. Raymond James provides full-service securities brokerage and advisory services to financial institutions seeking to compete with the largest banks and securities firms in the country. In addition to a full complement of investment products and services, Raymond James has the ability to deliver investment banking, public finance, research, self-clearing capabilities and wealth management services to both individuals and institutions.
About OnPoint Community Credit Union
OnPoint Community Credit Union is the largest credit union in Oregon, serving more than 276,000 members and with assets of $3.5 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 13 Oregon (Benton, Clackamas, Columbia, Crook, Deschutes, Jefferson, Lane, Linn, Marion, Multnomah, Polk, Washington and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.