OnPoint Community Credit Union is celebrating the one-year anniversary of opening 20 new branches inside Fred Meyer stores; the largest branch expansion of any credit union in the country last year, according to S&P Global Market Intelligence. Today, OnPoint operates 55 branches in Oregon and Southwest Washington and serves more than 480,000 members with $9.4 billion in assets. In honor of hitting this historic branch growth milestone, OnPoint will donate $1,000 to 20 different non-profits that serve the communities of OnPoint's new branches. Donations will go to organizations such as the African American Alliance for Homeownership, Marion Polk Food Share and the National Alliance on Mental Illness Southwest Washington. OnPoint is also hosting celebratory events at all Fred Meyer branches with member promotions and community giveaways, today through July 30, 2022.

Two OnPoint team members celebrate the one-year anniversary of the Johnson Creek branch opening.

"Despite all the challenges facing our communities, we were proud to open 20 new locations and provide essential financial services," said Rob Stuart, President and Chief Executive Officer, OnPoint Community Credit Union. "Access to in-person financial services and education is more important than ever as our communities continue to navigate an increasingly complex economy. Working with a community pillar like Fred Meyer allows us to meet members where they are and connect with them on a deeper level, so we can fully understand their challenges and create a roadmap to help them accomplish their goals."

Special promotions and branch details

In celebration of its vast growth and the new member and community connections it has forged over the last year, OnPoint is offering special promotions from today through July 30 in all 20 in-store Fred Meyer branches. Specific promotions include:

• $100 when you open a membership with a checking account1

• $50 for opening a new credit card2

• $800 off closing costs on a first mortgage3

• Up to $175 off a home equity line of credit4

• 0.25% off standard consumer loan rates5

• 0.25% APY increase on any published CD rate6

In addition to the special promotions, each in-store branch will host weekly giveaways for $100 OnPoint Visa gift cards. Branch staff will also hold raffles for gift baskets and OnPoint branded merchandise.

Access to financial services builds strong communities

OnPoint's historic growth in the last year has helped ensure communities that were previously under- or un-banked now have convenient access to financial services. Over the last three decades, the number of banking institutions has declined by 66%, with the nearly 18,000 branches operating in 1984 dwindling to fewer than 5,000 in 2021. As financial institutions continue to close, "branch deserts" have emerged in lower-income and minority communities, requiring residents to travel long distances to access in-person financial services, according to the National Community Reinvestment Coalition (NCRC).

"Working so closely with our communities, we hear time and again how important access to in-person financial services is for individuals, families and businesses," said Cory Freeman, Vice President and Regional Manager, OnPoint Community Credit Union. "When a community loses access to financial services, residents may turn to alternatives that are more expensive and sometimes unscrupulous, such as check-cashing stores or payday lenders. Branch closures also create barriers for small businesses, many of which are located in communities of color. When local entrepreneurs lose access to in-person banking, securing the loans they need to expand their business can be more challenging. We are pleased to fill this gap and look forward to supporting more residents and small business owners in our second year of operation within Fred Meyer stores."

Charitable Giving Grows Alongside Network of Branches

As OnPoint has expanded its geographic footprint, it has also increased its support of the communities it serves, donating $2.2 million in 2021 to 304 non-profits across Oregon and Southwest Washington. A new record for the credit union's annual giving program, OnPoint's donations focused on education, climate change, services for vulnerable groups of people, and diversity, equity and inclusion. As part of their giving efforts this year, OnPoint will donate $1,000to 20 different non-profits that serve the communities of OnPoint's in-store branches. Click here to learn more about the many ways OnPoint invests in its communities.