July 2015
NEWS / COMMENTARY
The Southwest Portland Post • 3
OnPoint Community Credit Union opens new branch in Hillsdale
By Erik Vidstrand
The Southwest Portland Post
Hillsdale is no longer a credit union
desert. Located next to Oak & Olive
Ristorante, the newest branch of
Oregon’s OnPoint Community Credit
Union will open its doors on July 8.
What once was a gas station and
spring now sprouts a thriving building
two-thirds occupied. When the gas
station and ice cream shop closed and
were demolished an empty lot stood
for years. Perhaps the property owner
was waiting for the right business to
occupy the space.
At one time, JPMorgan Chase & Co.
wanted to build a bank on the property
but at the leadership of journalist and
neighborhood activist Rick Seifert, over
600 local signatures were gathered from
local residents opposing the bank’s
proposal.
Mike Roach, co-chair of the Hillsdale
Business and Professional Association,
said it was four years in the making
but the right fit came in the form of
OnPoint.
Roach introduced the new manager
of the new branch, Colette Young, at
a recent Hillsdale business meeting.
Young has 17 years of financial services
experience and is the former manager
of the Murrayhill branch.
Young hopes of partnering with
Let’s promote development that helps the
Village stay the Village
OPEN FORUM
By Michael Banks
There has been much debate, both
pro and con, on the new proposed
development in Multnomah Village.
I live about four houses from the site,
and understand that “development
happens” in life, and that for the
most part, growth is a sign of healthy
economy.
However, and I would remind all you
who are fairly blasé about the proposal,
you shouldn’t forget that growth brings
change, often unwanted and very often
unplanned and unforeseen effects.
…Back in the early 90’s, my wife
and I lived off Northwest 23rd Avenue
and Johnson Street. We saw first-hand
how growth in that area created huge
parking and transportation problems
for the residents of that area.
Eventually those long term residents,
who could not either pay the increased
rents that accompanied development of
the neighborhood or who simply had
not ability to even park close by to their
homes, were forced out.
More than one of the supporters of
the development in the Village have
simply stated to those of us who are in
relative close proximity to the proposed
development that we always have
the option to sell our home and move
somewhere else.
Such a response is not only shockingly
(at least to me) cold-hearted and fails to
even try to extend empathy to those
of who will be drastically affected,
but displays the true colors of those
who simply do not care about their
neighbors.
For those of who are supporters of
the proposed development, I respect
your rights to support such growth, and
invite you take part in the discussions in
a way that respects those in the Village
who will be directly impacted by this
development.
At the last meeting, [developer] Tim
O’Brien admitted that the ingress/
egress point for the limited amount of
parking to the building will likely be
on 33rd Ave.
This means that at that intersection
there will be regular and sustained
traffic turning at the intersection of 33rd
(Continued on Page 6)
local businesses to encourage
OnPoint’s 9,000 members
who live within five miles of
Hillsdale to patronize the local
businesses on a regular basis.
“Our goal is to build
lasting partnerships and help
Hillsdale continue to thrive,”
Young said in front of two
dozen business association
members.”
OnPoint is the largest credit
union in Oregon, serving more
than 283,000 members with
assets of $3.6 billion.
Credit unions are no longer
the austere storefronts that
once served low-income
workers and middle-class
families. Many don’t know the
difference between a bank and
a credit union.
Credit unions received tax
breaks beginning in 1934 Mike Roach, co-chair of the Hillsdale Business and
when Congress decided to Professional Association introduces OnPoint’s branch
subsidize working-class manager, Colette Young. (Post photo by Erik Vidstrand)
Americans. Credit unions do
pay payroll and property taxes. They
unions focus on providing a safe place
just don’t pay corporate income taxes,
to save and borrow at reasonable rates.
specifically because of their not-for-
Unlike banks, credit unions return
profit structure.
surplus income to their members in the
Historically, the large banks would
form of dividends.
not serve these workers. The idea,
Today, OnPoint serves 276,000
according to the National Credit Union
members in 10 Oregon and two
Administration, was to “serve the
Washington counties. Anybody can
productive and provident credit needs
join.
of individuals of modest means.”
A grand opening event will be held
Formed in 1932, OnPoint originally
on Saturday, July 18 from 9 a.m. – 1 p.m.
was Portland Teachers Credit Union,
Refreshments will be served. Enter
serving the clientele its name implied.
a prize drawing for a neighborhood
As member-owned institutions, credit
shopping spree valued at $500.
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