“As a not-for-profit financial cooperative owned by our members, we believe that our greatest opportunity to serve is by continuing to deliver additional value.”
Ron Neumann
President & CEO
Community giving, early penalty fee waivers, quick emergency loans, temporarily suspended charging late fees, processed skip payments without assessing fees.
OCCU provided access to $1.5 million in COVID relief payments from the State of Oregon.
COVID emergency loans for
members equaled $800,000.
We welcomed new member-owners to the family in 2020.
Each member-owner helps us become stronger as an organization.
more than double 2019.
nearly double 2019.
OCCU Royal Branch - a new addition to our branch family.
services expanded to
support social-distanced banking.
to bring more convenience
and accessibility.
a high yield account that's great for
all kinds of savers.
a new kind of personal loan to provide
funds quickly.
new investment products
and team members.
investing more in you and your
neighborhood.
“The MyOCCU app did everything I need (mobile deposits and paying bills) and quite smoothly.”
– OCCU Member
“Well developed. Easy to use, and many convenient features. Makes transfers between accounts effortless.”
“Clear, easy & simple to use, works great! Thanks for being dependable OCCU.”
– OCCU members
We’re committed to our members, staff and community. We support organizations that enrich lives in the communities we serve. Together, we are helping families stay fed and healthy, restoring fire-devastated land, connecting students to advanced education and much more.
“Credit Unions collaborate on many things but this is probably one of the best things we do together… supporting Children's Miracle Network! One of these Jeeps was donated to Ronald McDonald House Charities Heartfelt House in Springfield. Kiddos will love driving this beauty during their stay. A heartfelt thank you.”
– Credit Union PartnerMarch 10, 2020
“Thank you to Oregon Community Credit Union employees! They chose the Little Free Pantries for their Community Giving Fund. We appreciate all the community support for many projects. The pantries have become very crucial during this time.”
– Eugene Burrito Brigade
Funded $549,367 in grants and scholarships
scholarships funded.
donated toward community building.
COVID relief dollars disbursed.
for systemic change.
donated to children's health programs.
distributed for fire relief efforts.
When wildfire impacted thousands across the state, members and community partners stepped up!
Learn about the impact of your contributions to the OCCU Foundation Fire Relief Fund.
“Thanks to the OCCU Foundation, hundreds of residents who were affected by wildfires that swept through the Santiam Canyon will have access to nourishing food as they begin the long process of rebuilding lost homes and businesses. We are grateful for this outpouring of support. It means a great deal to Marion Polk Food Share and to our canyon partners, who stand ready to help their neighbors through this recovery period and beyond.” Marion Polk Food ShareCorrina Hawkins, Director of Donor Relations
Statement of Financial Condition |
|
|---|---|
| Assets | |
| Loans to Members (Net) | $2,190,974,574 |
| Cash on Hand | $20,708,269 |
| Cash on Deposit | $7,946,422 |
| Investments | $81,322,006 |
| Land and Building | $12,797,945 |
| Furniture and Equipment | $3,812,821 |
| Other Assets | $73,135,657 |
| Total Assets | $2,390,697,694 |
| Liabilties and Equity | |
| Notes Payable | $13,199,000 |
| Other Liabilities | $41,469,574 |
| Total Notes & Other Liabilities | $54,668,574 |
| Shares | $557,796,036 |
| Share Drafts | $692,395,366 |
| Money Market Accounts | $449,653,567 |
| Certificate and IRA Accounts | $425,949,045 |
| Total Member Share Accounts | $2,125,794,014 |
| Total Equity | $210,235,106 |
| Total Liabities and Equity | $2,390,697,694 |
Statement of Income |
As of 12/31/2020 |
|---|---|
| Income from Loans | $81,445,118 |
| Income from Investments | $1,830,234 |
| Other Operating Income | $37,331,730 |
| Gross Operating Income | $120,607,082 |
| Less Operating Expenses | $84,743,314 |
| Income from Operations | $35,863,768 |
| Plus Non-Operating Gains | $6,547,449 |
| Income before Interest Expense | $42,411,217 |
| Less Interest Expense | $13,470,229 |
| Net Income | $28,940,988 |
We consider our members' best interests in everything we do and focus on providing value for our members by placing their needs at the center of every decision.
It goes without saying that 2020 was a year of unexpected opportunities and new paradigms for all of us. It was also a very successful year for OCCU, and we are proud to say that your credit union remains a safe and strong financial institution ready to support you.
In early 2020, OCCU adopted a new vision statement to Enrich Lives. This sentiment is what our Board of Directors and more than 440 employees work toward every day as we serve our membership. When we introduced this to our team, we never could have imagined how it would be brought to life in 2020.
As the impacts of the COVID-19 pandemic began to unfold, the OCCU team rose to the occasion and worked swiftly to support the health and safety of our members and each other. We adjusted our daily routines, modified our in-person operations, enhanced our online and remote delivery channels, added necessary personal protective equipment, strengthened cleaning protocols and shifted more than 80% of our employees to remote work.
Through this year of unexpected challenges, we still welcomed more than 20,000 new members and increased assets to nearly $2.4 billion. This growth allowed us to support our nearly 187,000 members in new ways, including helping them navigate the individual challenges they faced.
We developed emergency programs to support the immediate needs of members impacted by COVID-19 and the wildfires that ravaged the state in the fall. These programs included low and no interest loans, payment deferrals, fee waivers and other solutions to meet their individual needs. And through our OCCU Foundation, we partnered with community organizations to help with social service and healthcare needs faced by many. In fact, through your generous support, along with our business partners, we raised more than $250,000 to support wildfire relief efforts throughout the state.
As a not-for-profit financial cooperative owned by our members, we believe that our greatest opportunity to serve is by delivering additional value. Alongside focusing on the immediate needs of members and strengthening our community, we continued to enhance our products and services. We were able to maintain competitive rates on loans, reduce and eliminate account fees, and introduce Ignite Savings - a reverse-tier savings account designed to pay higher dividend rates on smaller balances to encourage savings. We regularly added new features to MyOCCU Online & Mobile and expanded our Investment Services and mortgage lending programs. We began upgrading our ATM network; relocated a small branch into a larger space adding drive-up service; and added a new branch in Keizer to better meet the needs of that community. We are passionate about our commitment to bring outstanding value to you and have exciting plans for continued progress in 2021.
Another exciting milestone for OCCU is the expansion of our community charter to include the state of Washington. This means we can serve anyone who lives, works or worships in Washington. Though we do not have plans for physical locations in Washington at this time, we believe that MyOCCU Online & Mobile and upgrades and additions to our ATM network will allow us to serve not only our current Washington members, but any who are interested in joining.
The OCCU team is fortunate to work with a very engaged Board of Directors who are passionate about representing the voice of the member. Together our team is committed to going the extra mile to enrich the lives of our members and the communities we serve. Their unwavering dedication to serve and bring additional value to you is inspiring.
On behalf of the Board of Directors and the OCCU team, thank you for placing your trust in us. We understand that you have a choice when it comes to choosing a financial partner and we are honored that you have selected us.
With gratitude,
The OCCU Supervisory Committee is appointed by the OCCU Board of Directors from among the members of OCCU. The Committee acts as our members’ representative in monitoring the operations of OCCU, making sure it is soundly managed.
The Committee’s role is to ensure that an annual overall financial audit and verification of members’ accounts is performed, and that OCCU has adequate internal controls in place to provide for the safety of member 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 2020 were completed by professional services firm Moss Adams with an effective date of Sept. 30, 2020. Their formal opinion letter confirmed that the financial statements fairly represent OCCU’s financial position.
In addition to the verification of members’ accounts and annual financial audit, the Committee also reviews all internal audits. During 2020, these internal audits were performed by the audit firm Doeren Mayhew. OCCU management continues to respond promptly to mitigate any operational issues as they arise. Despite the global challenges of 2020, our systems and controls are strong and effective in ensuring the safety of member assets.
On behalf of the Supervisory Committee, I would like to thank the Board of Directors, management and staff for their work. Their efforts are greatly appreciated.
“Courtesy, efficiency, considerate and sensitive to my banking needs; accountable and caring. Everything I would expect from a financial institution in whom I trust with my money. Thank you so much!”