Advantis Credit Union Grows to $1 Billion in Assets, Celebrates 85 Years of Service to the Portland Community
PORTLAND, OR (April 16, 2013) – It’s a banner year for Advantis Credit Union. Not only is the credit union this year celebrating 85 years serving members in the greater Portland metropolitan area, but this week topped $1 billion in assets. Advantis serves over 50,000 members and has grown to the fourth largest Oregon-based credit union.
“Many consumers looking for an alternative to big banks are finding their way to credit unions like Advantis. Many who joined in the past year are first-time credit union members who are discovering the benefits of belonging to a not-for-profit financial cooperative,” says Bob Corwin, President and CEO of Advantis Credit Union. “Credit union members say they appreciate the personalized service and being treated like a friend and owner; they appreciate the vast array of products from mortgage and car loans to checking accounts — and even our financial education seminars.”
In spite of a sluggish economy, Advantis’ membership grew by nearly 8% in 2012, deposits increased by 13%, and loans outstanding grew by 14%. Corwin credits Advantis’ continuing success to its 85-year commitment to provide consistently superior value and exceptional service to its members and to the local community. Advantis has received national recognition for the value returned to their member-owners, consistently ranking in the top 5% of credit unions nationwide since 2006 by Callahan and Associates, a national research and consulting firm that monitors credit union performance.
In addition, Advantis has been locally recognized as one of Oregon’s top ten philanthropic small companies in 2010, 2011, and 2012. Advantis launched GROW, the Advantis Community Fund in 2011. GROW is a unique charitable program that provides annual grants to help non-profits fund local projects that promise long-term benefits for the community.
“I recommend Advantis to my friends looking for local banking options because they are so responsive to my needs and I actually get reimbursed for fees that other banks would charge me,” says Nick Church, Advantis member. “Advantis has the same products that larger banks have but they are member-focused with personalized services — they look at me as a member, not just a dollar sign in my account.”
According to the Northwest Credit Union Association (NWCUA), in the 12 months ending September, 2012, the 1.4 million members of Oregon credit unions saved a collective $121 million in direct benefits. The association says that this is the result of lower fees, lower rates on loans and better rates paid on their deposits.
Advantis Credit Union, with $1 billion in assets, is one of Oregon’s largest member-owned not-for-profit, financial cooperatives with over 50,000 members and five branches in the Portland metro area. Advantis is one of the oldest credit unions in Oregon, serving the Portland metro area for 85 years. Membership in Advantis is open to anyone who lives or works in 23 counties in Oregon, including: Benton, Clackamas, Clatsop, Columbia, Coos, Curry, Deschutes, Douglas, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Multnomah, Polk, Tillamook, Wasco, Washington, or Yamhill counties in Oregon and anyone who lives, works, worships, or attends school in the state of Washington.