PORTLAND, Ore. — The delicate strategy of giving members with low-balance or dormant accounts the option of either using more products and services or taking their business elsewhere has become a necessary cost-saving move for Oregonians Credit Union.
At the other end, the multiple select employer group-chartered financial institution has the distinction of being the top credit union in the country that has experienced the fastest membership growth obtained through mergers between Sept. 2004 and Sept. 2006, according to Callahan & Associates, Inc. Within that time period, Oregonians grew an astounding 653%. In the last three years, the credit union has had eight mergers that have brought in more than 13,400 members and boosted Oregonians' assets from $170 million to $240 million and its member base to 42,000, said Mike Cline, president/CEO.
"We don't live off generating non-fee income," Cline said. "We've had to work real diligently on making sure that our members are active and are using as many services and products as possible."
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