Grassroots Efforts Inform Advantis CU and Its CEO: Billionaires Club
When credit union advocates battled three bills in the Oregon legislature, Advantis Credit Union put on its combat gear.
And thanks to individual credit unions and the Northwest Credit Union Association the measures were halted in committee. The proposals would have required credit unions to file more paperwork, put them under the Community Reinvestment Act, and added a corporate excise tax to state-chartered credit unions with more than 10% of assets or $250,000 in business loans.
“Market share has not grown significantly,” he said. At Advantis, “we are trying to do things within our community. We have what we call our Grow Fund. We get out into the community, solicit grant applications from nonprofits, then evaluate those applications and put it out to our membership to select the actual programs we will give money to. We want to be as active and visible in our community as we can.”
Advantis just joined the Billionaires Club, and is now Oregon’s fourth-largest credit union. The credit union has won recognition for value provided to members. That’s a challenge at a time when spreads are thin.