PORTLAND, Ore. – City officials here said they have enacted the initial provisions of a new Responsible Banking Resolution and made deposits of $250,000 in each of 10 Oregon credit unions and banks.

The credit unions receiving deposits are Advantis CU and OnPoint Community CU.

The money came from liquidating $2.5 million of the city’s roughly $800 million in U.S. Treasuries and other securities.

The aim of the resolution is to keep the city’s deposits in local institutions.

 

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