A list of credit unions in Oregon can help you locate the one that best serves your financial needs. According to the list, the largest credit union in Oregon is OnPoint Community Credit Union. OnPoint ranks fifth overall in financial services and is the only credit union to make the top 10. The list was created by a survey of 6,000 CEOs of businesses in Oregon and Southwest Washington. The companies are rated according to several factors, including customer satisfaction, trustworthiness, digital services, and branch services.
When considering a credit union, be sure to check the safety and soundness of the institution. Many credit unions may not be able to pay out savings before 46 or 76 days after the member dies. The state of Oregon and the Oregon Health Authority must approve any transfer of funds before a financial institution can distribute money. The financial institution may also require that a member pay an entrance fee in order to maintain its membership.
Membership in a credit union is based on its bylaws, which govern its activities. The director has the power to compel witnesses, administer oaths, and require documents. If a credit union does not meet these requirements, the director may accept a report from a federal agency. As a result, credit unions in Oregon may be considered safe places to borrow money. They may be located in areas that are economically and socially distressed.