2016

Annual
Report

It’s different here.℠

Providing value to our members and the communities we serve is at the forefront of everything we do. Our unwavering commitment to member service, community involvement and value drive every decision we make and we strive to deliver on our promise to provide more than our members expect and everything they deserve. It’s this dedication and care that makes it different at OCCU.

Credit unions, which are not-for-profit financial cooperatives, were founded on the principle of “people helping people” and that is something OCCU remains committed to. Giving back to those in need, building strong relationships, serving actively and volunteering with passion are deep in our DNA.

We’re excited to share some of the powerful work we have accomplished together in 2016 and we’re proud to continue to be your partner in your financial journey. We look forward to another remarkable year ahead. We know that together, we can do great things.

Welcome, new members!

We had a total of 19,464 new members join our OCCU family.

We welcomed 2,082 new members via digital channels. That’s a 36% increase over 2015!

We continued making a difference for all

138,840

Members

We transformed the way members think about banking

We collected testimonials from members who simply wanted to share their OCCU story. Hear their stories »

“With Remarkable Checking, you get some services for free that other financial institutions charge for. Plus, you get a high interest rate compared to a lot of other banks.”

Marvy S.
OCCU Member

“Being able to get a mortgage without being transferred a million times or talking to different departments that feel very sporadic and spaced out... I think that’s fantastic.”

Damon B.
OCCU Member

“With the app, sometimes we want to know how much we can spend. He gets into the app quickly, and helps us organize.”

Ingrid and Enrique S.
OCCU Member

“With Remarkable Checking, you get some services for free that other financial institutions charge for. Plus, you get a high interest rate compared to a lot of other banks.”

Marvy S.
OCCU Member

“Being able to get a mortgage without being transferred a million times or talking to different departments that feel very sporadic and spaced out... I think that’s fantastic.”

Damon B.
OCCU Member

“With the app, sometimes we want to know how much we can spend. He gets into the app quickly, and helps us organize.”

Ingrid and Enrique S.
OCCU Member

We guided members one step closer to their financial goals

585

people

started their homebuying journey at OCCU.

33,232

visits

to the Homebuying 101 pages. A 144% increase over 2015!

49%

increase

in remote deposits completed through an ATM or our mobile app.

8,762

members

opened a Remarkable Checking account.

NEW

Mobile Payment Options

We expanded our mobile payment options by adding Apple Pay®, Visa Checkout, Samsung Pay and Android Pay™.

585

people

started their homebuying journey at OCCU.

33,232

visits

to the Homebuying 101 pages. A 144% increase over 2015!

49%

increase

in remote deposits completed through an ATM or our mobile app.

8,762

members

opened a Remarkable Checking account.

NEW

Mobile Payment Options

We expanded our mobile payment options by adding Apple Pay®, Visa Checkout, Samsung Pay and Android Pay™.

585

people

started their homebuying journey at OCCU.

33,232

visits

to the Homebuying 101 pages. A 144% increase over 2015!

49%

increase

in remote deposits completed through an ATM or our mobile app.

8,762

members

opened a Remarkable Checking account.

NEW

Mobile Payment Options

We expanded our mobile payment options by adding Apple Pay®, Visa Checkout, Samsung Pay and Android Pay™.

We stayed busy helping members access their money

1.15 million

branch transactions

1.25 million

credit card transactions

15 million

debit card transactions

We helped members feel more confident about their finances

20

educational seminars

We hosted 20 educational seminars to educate members on topics from investing to homebuying.

500+

members

We provided 500+ members with options to help them make monthly loan payments in order to better manage their finances.

255,000

email newsletters

We sent more than 255,000 copies of our monthly newsletter via email to share money management tips and inform members about our products and services.

5,000+

monthly visits

We averaged more than 5,000 visits a month to the new “Learn” section of MyOCCU.org.

We introduced millennials to an easier way to bank

35% of OCCU members are millennials!

  • We launched an “Adulting” campaign to show millennials how easy it is to bank with us.

  • We hosted an interactive Week of Welcome event at the University of Oregon and gave away prizes to incoming freshmen while educating them on basic finances.

We launched the Cha-Ching newsletter

to provide financial tips and advice to millennials.

We launched the Cha-Ching newsletter

to provide financial tips and advice to millennials.

We gave back to our community in more ways than one

We proudly donated $369,371 to our community.

 

We donated $163,750 in scholarships and $150,917 in sponsorships

 

OCCU employees believe in giving back so much, they donated $54,704 of their own money

 

Our members gave back $34,074 out of their own pockets

Our team spent 2,000 hours volunteering within the community. An increase of 225 hours over 2015!

2,000
Hours
83.3
Days
11.9
Weeks
2.9
Months

Shred Fest

In May we shredded documents at our annual Shred Fest to keep members of the community feeling safe and secure.

22.18 tons

of personal documents shredded

8 bins of food

collected for food for Lane County

that’s 1,471 non-perishable food items!

900+

cars served

Our 2016 Financial Summary

Statement of Income

As of 12/31/2016
Income from Loans $48,975,965
Income from Investments $1,266,487
Other Operating Income $25,975,478
 
Gross Operating Income $76,217,930
Less Operating Expenses $59,973,103
 
Income from Operations $16,244,827
Plus Non-Operating Gains $796,649
 
Income before Dividends $17,041,476
Less Dividend and Interest Expense $6,907,234
 
Net Income $10,134,242


Statement of Financial Condition

Assets
Loans to Members (Net) $1,285,189,857
Cash on Hand $8,459,398
Cash on Deposit $216,201,250
Investments $8,814,874
Land and Building $12,395,689
Furniture and Equipment $3,597,119
Other Assets $47,192,678

Total Assets $1,581,850,865


Liabilities and Equity
Notes Payable $0
Dividends and Other Liabilities $24,457,154

Total Notes, Dividends & Other Liabilities $24,457,154
 
Shares $616,821,171
Share Drafts $91,701,401
Money Market Accounts $461,703,949
Certificate and IRA Accounts $259,384,726

Total Member Share Accounts $1,429,611,247
 
Total Equity $127,782,464

Total Liabilities and Equity $1,581,850,865



It’s different here for a reason

2016 was an exciting year for OCCU. We welcomed 19,464 new members to our family, ending the year with 138,840 member-owners! The Board and Management are proud to be able to combine exceptional member service, unparalleled value and committed community involvement to make a difference in the lives of our members and the communities we serve.

As a not-for-profit financial cooperative, we return our profits to our member-owners by offering lower rates on loans, higher deposit rates, lower and fewer fees and ongoing investments in services, technology and security to bring even more value to OCCU membership. The more our members are engaged and using our services, the more we can help members and our community in their time of need. We invest in helping to make the communities we share stronger by volunteering and making financial contributions to scholarships, local nonprofits and schools. It is this cooperative spirit that allows OCCU to make a difference.

Our steadfast dedication to providing the highest standard of service and going above and beyond in everything we do remains. Our employees are at the heart of our organization and they strive each day to offer proactive, personalized service. They work to foster strong connections and deepen relationships with our members. Part of our everyday work is finding new ways to anticipate and meet member needs and then enhance and design products and services with these needs in mind. It’s just one of the ways it’s different here.

Bettering the overall experience for our members remains a key focus. We have and will continue to make enhancements in our delivery methods so that doing business with us is even easier. We are committed to adding new and improved products, services and security to give you more than you expect and everything you deserve.

In 2016, we added new payment options like Visa Checkout, Apple Pay® and Android Pay™, as well as new Certificate options, additional ATM features and enhanced Business Services capabilities. We invested in data security enhancements and additional tools to keep our members’ assets safe. We brought forward new educational opportunities too and were excited to launch a new responsive design website with content to help our members plan for their financial future, build a budget, save for college, buy a home and manage credit.

In 2017, we’re working to expand our branch network with a new location in Wilsonville, and developing plans to make our online experiences even better. In addition, we’re focused on continuing to bring more educational content and opportunities to our members and communities. We’re bringing that commitment of education to our staff as well and will be strengthening our internal training and development opportunities so that we can continue to provide unparalleled member service and value with every interaction.

On behalf of the Board and Management, we would like to thank our member-owners for helping to make OCCU a strong organization. 2016 was a remarkable year and we can’t wait to make it even better together in 2017!

Best regards,


Beverly Anderson
Board Chair


Mandy Jones
CEO

We’re dedicated to holding OCCU to the highest standards

The Supervisory Committee is appointed by the Board of Directors from among the members of Oregon Community Credit Union. The Committee acts as our members’ representative in monitoring operations of the Credit Union, making sure it is soundly managed.

The Committee ensures that an overall financial audit and verification of members’ accounts are performed on an annual basis and that the Credit Union has adequate internal controls on their operational procedures to provide for the safety of the members’ assets. The Committee reviews all audits, and reports any significant findings to the Board of Directors.

The annual financial audit and verification of members’ accounts for 2016 were completed by Certified Public Accounting firm Eide Bailly, LLP with an effective date of September 30, 2016. Their formal opinion letter confirmed that the financial statements fairly represent the financial position of Oregon Community Credit Union.

In addition to the verification of members’ accounts and annual financial audit, the Committee also reviews all other internal audits. During 2016, these internal audits were performed by the audit firm Doeren Mayhew. Credit Union Management continues to respond promptly to implement procedural changes to strengthen the Credit Union’s operational soundness.

The support and cooperation from the Board of Directors, Management and staff is greatly appreciated.

Jason Barber
Supervisory Committee Chair

Meet Our OCCU Team

Board of Directors

Beverly Anderson
Chair

Genevieve Parker
Vice Chair

Jeanine Jensen
Secretary

Jeremy Green

K.C. Huffman

Bill Inge

Tom Larson

Mandy Jones
CEO, Treasurer

 

Associate Board Members

Nicholas Balthrop

Jessica C. Bonin

 

Supervisory Committee

Jason Barber
Chair

Bruce Abrahamson

Greg Nelson

Rick Varnum

Leadership Team

Mandy Jones
Chief Executive Officer

Ron Neumann
Executive Vice President

Jerry Liudahl
Chief Credit Officer

Deborah Mersino
Chief Marketing Officer

Greg Schumacher
Chief Administrative Officer

Darrell Stark
Chief Retail Officer

Ethan Nelson
Vice President, Lending

Angela Peacor
Vice President, Organizational Development

Dan Ripplinger
Vice President, Business Services

Scott Roots
Vice President, Investments and Insurance

Dave Schiffer
Vice President, Finance

Corporate Offices

2880 Chad Drive
Eugene, OR 97408
800.365.1111
MyOCCU.org