2 credit unions open new branches.Byline: Joe Mosley The Register-Guard Don't tell local credit unions that the building boom has slowed - two of them have opened new offices in Eugene-Springfield in the past couple months. Eugene-based Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. Community Credit Union opened its 14th branch - its ninth in Lane County - a month ago at 4239 Barger Drive, adjacent to the west Eugene WinCo Foods WinCo Foods is an employee-owned supermarket business headquartered in Boise, Idaho. The company's name is short for Washington Idaho Nevada California Oregon, the states WinCo operates in and Winning Company. store. About two weeks earlier, First Tech Credit Union of Beaverton opened its 16th branch - its fourth in Lane County - at 1810 Pioneer Parkway West, in Springfield. "Our members have been asking for some time (for a west Eugene branch)," Oregon Community Credit Union spokeswoman Cherie Kistner said Monday. "We regularly solicit member feedback, and it has come up a number of times over the past couple years." Kistner said Oregon Community's mortgage portfolio "remains very stable," despite nationwide concerns over rising foreclosures and tightening credit. Kistner pointed out that credit unions are nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. , and tend to reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. their earnings to meet the needs of customers. "That includes adding branches that are more convenient, and adding services - like if there's not an ATM in a particular area," Kistner said. Oregon has about 80 credit unions that operatebranches in Oregon, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Credit Union Association of Oregon. Some have limited charters, serving a certain trade or sector, while others, including First Tech and Oregon Community have what are known as "open charters" and can serve anyone who lives or works in their charter areas. Pam Leavitt, senior vice president of the state Credit Union Association, said expansion into new branches is not necessarily a reflection of current economic conditions, but more of a long-term response to growing memberships. "I'm sure the branching operations are in the works for several months, if not years," Leavitt said. Credit unions in general seem to be handling the economic slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. well and continue to expand their reach, Leavitt said. "Certainly, we've seen slower (rates of) loans going out the door," Leavitt said. "But overall, I think most of the credit unions have reported they're sustaining very well during this time." The new First Tech branch in Springfield has a drive-up ATM and bank window, along with a coin machine, notary notary or notary public Public officer who certifies and attests to the authenticity of writings (e.g., deeds) and takes affidavits, depositions, and protests of negotiable instruments. services and safe deposit boxes A safe deposit box (sometimes incorrectly called a safety deposit box) is a type of safe usually located in groups inside a bank vault or in the back of a bank or post office. . The Barger branch of Oregon Community also has a drive-through window. The branch has a full-time mortgage officer and member access to auto and home equity loans, as well as investment services. |
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