PORTLAND, Ore. -- Can money make you sick? Mike Fletcher ofPoint West Credit Union here makes a direct connection betweenhealth and financial well-being. He's delivered a presentationtitled "Can Money Make You Sick?" which covers the basics offinancial education and its effect on stress many times, includingat a Health and Wellness Fair at Portland Community College lastyear. Back then, Fletcher, VP of Marketing & BusinessDevelopment, said he hoped the program might be expanded.

That hope is now a reality, along with a growing emphasis onPoint West's outreach to the Hispanic Community. Within three yearsit has opened a new branch and expanded staff from 35 to 50 andoffered new products, all directed at growing this $106 million,near 13,000-member CU as it celebrates its 75th year. To kickthings off, it's running a 7% CD offer that's already brought in$1.5 million in new money. The 5-month CD is available to memberswho have checking accounts and direct deposit and 74 members openedpromotional CDs on the first day of the promotion.

PWCU was seeking a way to expand its financial education effortsand will deliver the "Banking on our Future" program, which isgeared to youth ages 9-18 free to school districts. PWCU has workedwith students in Portland public schools for some time, teachingthe basics of banking, checking and savings accounts, credit, andinvesting.

"Our CEO Robert Barzler and our board, which is very young anddiverse, is very passionate about being a 'real' credit union,"said Fletcher. "You hear it all the time, but they give us a cleardefinition of what it means." What it doesn't mean is hoarding 10%or more in capital, added Fletcher. "How we use our reserves ispart of living that philosophy every day. Our budget is designedwith our capital ratio in mind." PWCU's capital ratio is now at8%.

Amy Nelson is the newest addition hired to do training and thefifth PWCU staffer to earn certification in the Banking On OurFuture (BOOF) program. The training and education manager said, "Iwas teaching in a high school classroom three weeks after I startedat Point West," said Nelson. Alison Carr, vice president ofcorporate development noted that Nelson "will equip each staffmember with the tools necessary to provide the high level ofservice we promise members as we continue to grow."

Since merging with the former Hacienda Community Credit Unionand its 2,800 Latino members in March 2005 PWCU has developedalternatives to check cashing and payday lending. Its Fresh StartChecking and free financial counseling resource called BALANCEallows CU members to open a checking account without previouslyestablished credit, Social Security Number or Individual Tax I.D.Number.

The checking account provides ATM access, online banking access,checks, and access to direct deposit. For a $10 monthly fee amember can avoid high check cashing fees and charges for moneyorders. If in good standing for a year, it automatically convertsto a regular free checking account with additional privileges. Afree online course (in Spanish) is required, which can be completedin the CU lobby.

The BALANCE resource comes from a division of CCCS of SanFrancisco that provides counseling over the phone or online withcertified financial counselors. It's available in both Spanish andEnglish. Barzler said he placed a premium on having multiplebilingual staff throughout the credit union to serve members innearly every department of each branch and a fully translatedSpanish version of its Web site (www.pointwestcu.com). "Serving theHispanic community is an important part of our mission," hesaid.

Reaching Out

Business Development Officer Ximena Quiroz came from Haciendaand translated many of the CU's in-house forms into Spanish. Shecommits a significant portion of her time to educating the Latinocommunity by seeking out companies with large Hispanic workforcesand making them aware of the benefits of CU membership. Quirozworks through several community groups, including the PortlandHousing Center and the local library. "I try to get the word outthat Hispanics here can buy their own homes.

PWCU was a sponsor of Latino Home Initiative, a fair that giveshelp to Latino families in the home buying process. Quiroz servedon the planning committee and taught three of the seminars at lastyear's event. PWCU also sponsored one of the $5,000 down paymentgrants for a participant, one of 30 candidates selected from thoseLations who attend and enter a raffle.

They can win a down payment grant ranging from $5,000 to $10,000when they purchase a new home. Francisco Bautista Parra, a PointWest Credit Union member, was selected and is now trying tocomplete the homeownership course and find a home.

Given the rising political heat over recently proposedlegislation on immigration, Quiroz commented, "It shouldn't bepolitical. Credit unions are here to help people and keep them fromusurious payday lenders."

Multnomah County Chairman Ted Wheeler attended the opening ofPWCU's new branch on May 10. It was fitting because PWCU waschartered in 1932 by seven Multnomah County employees and they areits original base.

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