Credit union to open inside Fred Meyer

Chase Bank had been operating inside the Newport Fred Meyer store but closed that branch late last year. OnPoint Community Credit Union announced recently it will open 20 new branches inside Fred Meyer stores in 2021, including one in the Newport location. (Photo by Steve Card)

OnPoint opening 20 new branches

OnPoint Community Credit Union announced recently it will open 20 new branches located within Fred Meyer stores across Oregon and Southwest Washington this year. This is the largest branch expansion in OnPoint’s history, and the news reinforces the credit union’s commitment to its members and the Northwest region. As Oregon’s largest credit union, OnPoint currently operates 36 branches, with four locations having opened in 2020 alone, and serves more than 415,000 members.

“As part of our unwavering commitment to Oregon and SW Washington, we are always looking for new ways to expand our services and grow our presence to better assist our members,” said Rob Stuart, president and chief executive officer, OnPoint Community Credit Union. “Fred Meyer serves as a community staple across the region, and when an opportunity arose to work with this local company while at the same time be more accessible to our members, we were thrilled to embark upon this new partnership.”

OnPoint’s plans include opening a branch inside the Newport Fred Meyer store. Chase Bank, which had been operating inside Fred Meyer, closed its branch there late last year.

OnPoint’s new in-store branches will open on a rolling basis throughout the first half of 2021, with construction set to begin in January. Each branch will offer members a complete suite of financial services, including membership enrollment, consumer and commercial lending, mortgages, financial planning, ATMs and notarization.

“We are honored to be selected as Fred Meyer’s community credit union partner,” said Tory McVay, OnPoint’s senior vice president and chief retail officer. “Co-locating with a major regional supermarket will provide our growing membership and the communities we serve with convenient, one-stop access to essential financial services. We are proud to not only help our members achieve their financial goals, but to also invest more deeply in our region and provide up to 200 new jobs to members of our community.”

OnPoint’s expansion comes on the heels of the credit union adding 15 counties to its charter in June 2020, increasing the total to 28 across Oregon and two in Southwest Washington. With this charter expansion, more than four million Oregonians are now eligible for OnPoint membership. The 15 counties added to OnPoint’s charter are Clatsop, Coos, Curry, Douglas, Gilliam, Hood River, Jackson, Josephine, Klamath, Lincoln, Morrow, Sherman, Tillamook, Wasco and Wheeler.

“We are excited to welcome OnPoint Community Credit Union into our stores,” stated Jeffery Temple, director of corporate affairs for Fred Meyer Stores, Inc. “Our customers rely on Fred Meyer to provide one-stop shopping, so we look forward to offering a trusted community credit union to fulfill our customers’ financial needs.”

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