Credit Union Difference
Rivermark is a not-for-profit financial cooperative, owned by the people who save and borrow here. Unlike a bank, Rivermark does not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower rates, higher dividends on deposits and lower fees. We exist solely for the benefit of our member/owners.
While credit unions and banks offer similar products and services, the similarities end there.
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| Here are the differences: |
| For profit business |
Not for profit financial cooperative |
| Paid Board of Directors |
Volunteer Board of Directors |
| Income returned to stockholders |
Income returned to members in the forms of better savings rates, lower loan rates, and low or no fees for services |
| Deposits federally insured up to $250,000 by the FDIC, a government agency |
Deposits federally insured up to $250,000 by the NCUA, a government agency |
Our History
Rivermark was founded in February 1951, by 58 grocery store employees who formed Safeway Portland Employees Federal Credit Union. In 2004, the credit union was approved for a community charter and changed its name to Rivermark Community Credit Union. Today, the Credit Union operates 8 branches in Oregon and serves over 58,000 members. Deposits are federally insured by the National Credit Union Administration (NCUA).
Sustainability
Rivermark has implemented sustainable practices into our operations and design of our facilities.
Green Products. Rivermark has several eco-friendly products that encourage members to participate in energy saving practices. Rewards Checking and Rewards Savings both offer a higher yield when members use green services such as free Online Banking and E-Statements. Rivermark Online Banking includes Bill Pay, E-Bills and other paperless services that reduce waste. We also offer loan discounts on certified hybrid vehicles.
Hawthorne Branch Remodel. The new Hawthorne Branch was built using materials that reduce operating costs and are environmentally friendly, including:
- Use of recycled and environmentally friendly materials throughout the construction or remodeling process
- Recycling 78% of construction waste and almost 50% of the previous building.
- Use of recycled building materials, including dry wall, steel, pavers, flooring, etc.
- Utilizing water-saving efforts in our restrooms and landscaping
Rivermark is pursuing certification from the Earth Advantage Institute, a Portland-based nonprofit organization that works with the building Industry to help implement sustainable building practices.
Recycled Paper. We use recycled paper products throughout the credit union, including copy/printer paper. Letterhead, product literature and other marketing materials are printed on Forest Stewardship Council certified paper, meaning that strict guidelines have been followed to ensure forests are managed in a sustainable manner.
Recycling Program. Rivermark has implemented a mixed-used recycling program in all our locations and uses many recycled office supplies.
