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.


Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.