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The Economic Impact of Credit Unions in Oregon

The Economic Impact of Credit Unions in Oregon

Credit Union ImpactAs a credit union member, you are part owner in a not-for-profit financial cooperative, owned by the people who save and borrow here. As credit unions offer lower fees, higher interest rates on savings and checking accounts and lower interest rates on loans, the benefits of the cooperative structure directly impact the economies in the communities we serve.

The Northwest Credit Union Association (NWCUA) recently released their report outlining the beneficial impact of credit unions in Oregon. Rivermark is proud to contribute to these powerful statistics. 

  • There are over 1.97 million credit union members in Oregon, representing 49% of the population. 
  • The benefits credit unions provide members generate $161 million of spending within the state and $2.2 billion in total gross economic activity. 
  • The average annual direct benefit per Oregon credit union member is $81. However, Rivermark members save an average of $305* per member. 
  • Credit unions in Oregon provide 5,845 family wage jobs annually. Each credit union job, supports two additional jobs in the Oregon economy. 
  • Last year credit unions assisted members with 950,000 consumer and small business loans, totaling $14.2 billion

Rivermark is proud to serve over 85,000 members in 11 Oregon counties. We are committed to offering our members valuable services that make a positive impact on their financial lives. 

If you would like to read the full Credit Union Impact report, it is available here

*Working with a national research firm, we compared our account rates and fees with the average rates and fees of local banks in the Portland Metro area. The calculations were provided by Informa Research Services, Inc. Please note that although Informa obtained  the information directly from the banks, we cannot guarantee their accuracy as rates can change at any time. The formulas used for the calculations vary by account type.