The INDEPENDENT, August 3, 2011
NW Credit Union Association:
credit unions have money to loan
Oregon’s
unemployment
ticked up to 9.4 percent in
June, adding only 800 jobs
according to a new report from
the
Oregon
Employment
Department. Small businesses
could create jobs, according to
the Northwest Credit Union
Association. As small busi-
nesses continue to struggle to
find access to the capital nec-
essary to stimulate job growth
and expand their businesses,
the solution may be just around
the corner at their member-
owned credit union.
“Many of Oregon’s credit
unions now offer loans for
small businesses, yet business
owners are not aware of this
resource located in their own
community,” said Troy Stang,
president of Northwest Credit
Union Association.
While bank business-lend-
ing has declined 5 percent
since the height of the reces-
sion in December 2007, the
nation’s credit unions have
grown small business lending
by 38 percent.
“Business owners have felt
the frustration of trying to
explain their business needs to
large, multinational banks and
get nowhere in the process,”
Stang said. “Credit unions in
Oregon have lent hundreds of
millions of dollars to local busi-
nesses because business own-
ers deal directly with decision-
makers right in their own com-
munities who invest the time
and expertise to get them the
capital they need to expand
and grow jobs.”
Stang says a number of
credit unions in Oregon are
eager to help their members’
businesses with the loans they
need to stimulate our local eco-
nomic recovery. “The problem
is that many Oregonians are
simply not aware that they
need not rely on large banks
and that their own credit union
has money it wants to lend to
help make them successful.”
Ironically, it is the banking
industry that has its foot on the
brakes in trying to restrain
credit unions from stimulating
job growth by providing even
more loans to small busi-
nesses. Banks successfully
lobbied Congress in 1998 to
actually cap the amount of
money credit unions can pro-
vide to small businesses. “The
cap has no economic rationale
but was created to limit con-
sumer choice, “Stang said.
In a time where job growth in
Oregon is lagging it makes no
sense to limit credit unions abil-
ity to serve small businesses
and grow jobs.”
The Credit Union National
Association estimates that as
many as 140,000 more jobs
could be created in the next
year in the United States by
raising the limit on credit union
lending. That is eight times the
total number of jobs that the
U.S. created overall in the June
jobs report issued by the labor
department. Over 2,700 of
those jobs could be created
here in Oregon.
Both the U.S. Senate and
House are considering legisla-
tion to raise the cap and allow
credit unions to expand their
efforts.
“It makes no sense with so
many people out of work that
banks continue to try and limit
credit unions’ ability to serve
their members. This can be
accomplished without a single
dime of taxpayer money,”
Stang added.
In the meantime, Oregon
credit unions continue to reach
out to small businesses and
help grow the economy. “We
are the best kept secret out
there and its time business
owners are told our credit
unions are there and eager to
help,” Stang said.
Page 5
Council told wetland building set to begin
The August 1 Vernonia City
Council meeting started off with
Mayor Josette Mitchell reading
a proclamation naming August
1 - 7 as Geography Awareness
Week.
Council gave their approval
to a proposal to set up an exec-
utive planning committee
(EPC) to work on creation of
the new Spencer Park on the
existing school site. The EPC
will include, at a minimum, the
city administrator, district
superintendent, the mayor, two
members of the city parks com-
mittee, and perhaps commu-
nity members, school coaches,
and Booster members.
Steve Effros, school district
project manager, gave the
council a presentation on the
wetlands mitigation that will
take place in the old mill site.
The loss of wetlands at the new
school site must be mitigated
by building seven acres of wet-
land somewhere. It was
decided to use part of the old
mill site in order to enhance the
paths through there. Work will
start on Monday, August 8.
Paths will be packed barkdust
suitable for walking and bicy-
cling. Effros expects that
40,000 cubic yards of soil will
have to be moved as part of the
project. Casey Mitchell, who
owns the land on the other side
of California Ave. from the old
mill site, told council that by
having that soil moved onto his
property, $10,000 to 25,000
could be saved in trucking
costs and the additional soil on
his property may allow him to
develop there at some point in
the future.
Council was told by Interim
City Administrator Jim Johnson
that city hall will close at noon
on Friday, August 5, for the
start of Jamboree, as they have
in the past.
In other business, council:
• Approved a $3,647 funds
verification request to re-fit the
K-9 vehicle as a patrol vehicle
County employment sticks at 10%
Columbia County’s season-
ally adjusted unemployment
rate was 10.4 percent in June
essentially unchanged from the
previous month (10.0%) but
lower than the year before
(12.2%). The rate was above
the statewide rate (9.4%) and
the national rate (9.2%). Total
employment inched up by 13 to
22,082 and the number of
unemployed people jumped by
356 to 2,764. Total employment
this June was 574 more than
one year before and there were
221 fewer people unemployed
this year.
by removing all K-9 specific
items and installing a regular
patrol backseat and cage;
• approved the expenditure
of $25,500 to have Five Star
Paving, Inc. pave Cougar St.
from Weed Ave. to Jefferson
St.;
• approved a change in the
insurance coverage language
in an airport ground lease;
• approved Resolutions 20-
11 and 21-11, housekeeping
issues related to the existing
school site being used as a
park sometimes and as school
playing fields at others. For
example, alcohol can be con-
sumed in designated camp-
sites when used as a park, but
not when used as a school site.
According to Superintendent
Dr. Ken Cox, tobacco will not
be allowed at any time.
The next city council meet-
ing will be held August 15,
starting at 7:00 p.m., in city
hall.
— CORRECTION —
On Page 20 under “Council
okays small garbage rate
increase”, one item mentioned
the council accepting a special
allotment. The statewide allot-
ment is $500,000, the allotment
to the City of Vernonia is
$50,000.
The Independent is sorry for
any confusion caused by this
error.