Bank Transfer Day: Northwest Resource FCU Welcomes Occupy Portland
Although it usually isn’t open on Saturdays, Northwest Resource Federal Credit Union stayed busy on Bank Transfer Day as it welcomed many with the Occupy Portland movement.
“It was just a really good day,” said Jim McCarthy, president/CEO of the $92 million in Portland. “It energized the board and staff. Hopefully, we want to try and keep it going.”
Northwest Resource FCU opened up 20 new accounts in a two-hour period last Saturday and earlier this week, added 10 more, McCarthy said. The numbers may be considered small, he acknowledged, but for the credit union’s size, it was significant given its average new accounts each month is 24. NRFCU serves more than 6,100 members.
One of the highlights that put the credit union in the spotlight even more is seen in a You Tube video featuring a march of people to the cooperative’s only branch in Portland. Members talk about the reasons for joining NRFCU as Occupy Portland organizers provide next steps to moving beyond the banks.
Kim Faucher, NRFCU vice president of marketing, is seen in the video.
“We haven’t been afraid of the Occupy movement because they are pro-credit union,” Faucher told Credit Union Times.
Faucher said the credit union has a relationship with Oregon Banks Local, an organization that promotes keeping citizen dollars local. According to the group, 66% of private deposits in Oregon are held by five Wall Street banks. Faucher said NRFCU stayed in touch with some of the organizers of a “Move Your Money” campaign created a few years ago by Oregon Banks Local. The group coordinated the recent Bank Transfer Day march.
“We’re normally not open on Saturdays. People waited until that day to come to the credit union,” Faucher said.
McCarthy said the marchers were “very organized and well behaved.” After the day was over, He went out to the parking lot to assess the cleanup damage and found the place free of litter.
“We offered coffee and doughnuts. Our board chair came down,” McCarthy said. “For me, it was one of the best days. I’ve been [in the industry] for 14 years but I’ve only been here for a little over six months as CEO.”