Learn about Oregon credit union

Posted by alisonreid29 on January 22nd, 2015

Oregon credit union operates in a different manner than the rest of financial institutions. They don’t offer their services for profit, but for helping people and the community. It is important to know that Portland credit union is owned by the members and important decisions are taken by the board consisted of the members. The organization is non-profit, yet still offering the same financial services you would normally find at a bank. There are no differences regarding this aspect. 

Loans are given from one member to the other, as they pool funds and the income that results is returned to the members in different forms, varying from credit union to credit union. Oregon credit union is worthy of consideration when it comes to many situations, such as getting a loan or opening a new account. More than that, the loan obtained is not just moderate, but for big-purchase items, such as a new car, a house, for education, but even money for going on a dream vacation, for renovating the house and such. Economic security is another important point to discuss, as not every day people feel confident to get a loan.

Portland credit union offers their services and products at competitive rates, allowing people to make the best decision. Many will find the offer better than at any other financial institution, while the services are still the same, or even better. Banks put a lot of stress on people and most clients feel worried when making a loan or taking a mortgage, because they fear they will not be able to make it. Oregon credit union works in the interest of its members and they will offer advice and listen to requests in order to come with the best solution for everyone.

How are actually funds available for new loans and new members? Revolving loan is the answer, because the members of Oregon credit union will make payments for the loans they have obtained and those funds will be available for new loans. This way, the money goes actually from one member to another. A person can consider becoming a member, no matter the type of loan required and the purpose for which it will be used. However, the most popular ones include study loans, business loans, mortgages, personal loans, and car loans.

Democracy is another important discussion when it comes to Portland credit union. Members take part in meetings, they make decisions, they elect, and they vote as well. The board of directors is selected by the members, as they will control the operations of Portland credit union and they will look for the best interest of its members. The directors can set loan limits and based on regulations and rules imposed, they will also determine interest rates. Depending on the area you live in, where you work or if you are part of a specific association, the credit union will establish who will become a new member.

If you are considering becoming a member of Oregon credit union, you can find all required information right here. What is certain is that Portland credit union cares about the community served and its members.