Oregon Federal Credit Union

Our Federal Insurance
Oregon Federal is a community based, federally chartered, federally insured financial institution.
Your savings accounts are insured by the National Credit Union Administration (NCUA), which is an agency of the federal government.

Facts you should know...

Each member's funds are insured to $100,000 and that applies to the total of a person's funds in regular shares, share certificates, money market accounts and checking accounts. Actual title to each insured account must be in the name of the merchant account holder. Individual Retirement Accounts are eligible for separate insurance protection up to $100,000.

About joint accounts...

A husband and wife, or any two or more persons, may have, in addition to their individual insured accounts, a valid joint account in the same insured credit union, separately insured to $100,000. All joint accounts held by the same combination of individuals are insured only to $100,000.

About Revocable (payable-on-death) Trust Accounts...

Funds deposited into revocable trust accounts whose beneficiaries are either a spouse, child or grandchild of the owner are separately insured to $100,000, in addition to the insurance on valid individual and joint accounts. Eligible accounts provide that, at the death of the owner, funds will pass to a named beneficiary: spouse, child or grandchild. The person who has the power of revoking the trust is considered the owner of the account.

How Can I Join? Click here for a map of our service area. It's that easy! If you are eligible for membership, click here to join Oregon Federal. For credit card merchant services, please visit our service provider here.

Our History
In 1956, Frank Walsh, a young teacher, applied for a loan at the local bank. For whatever reason, he was not approved. Walsh was surprised by the denial, so he and a few of his colleagues began talking of forming a credit union. Walsh and a few others drove to Portland to find out more about this new cooperative "bank" and liked what they discovered.

On January 9th, 1957, twelve school employees from the south coast met in Bandon and each deposited their five dollar par value to form the original Coos Curry Teachers Federal Credit Union. It is doubtful any of them imagined what would come of their efforts.

A few months later, Clyde Head, a math teacher at the Coquille Middle School, was asked to serve as Manager/Treasurer. Soon, his wife, Barbara, began helping out and quickly became a well-known and integral part of the Credit Union. Barbara and Clyde were the heart and soul of the Credit Union, managing it for years from their home, then from their garage, until it finally relocated to its present main office in Coquille. In 1989, Clyde retired as Manager.

In December of 1970, Coos County Municipal Employees FCU merged with Coos Curry Teachers, but the name remained "Coos Curry Teachers." Continuing to grow and now serving more than "just teachers," the Credit Union changed its name in 1988, dropping the word "Teachers." In February 1994, Menasha FCU merged with Coos Curry FCU. The name "Coos Curry Federal Credit Union" remained until December 1997.

Recognizing the need to expand membership eligibility to more area residents, the Credit Union chose to apply with the National Credit Union administration (NCUA) for a community charter. Recognized as a credit union serving a "low income community," Coos Curry FCU's case was well received by the NCUA Board. On July 23, 1997, the new community charter was approved, opening membership up to anyone who lives, works, or worships in Coos or Douglas Counties and western Lane County. Curry County was dropped from the field of membership, as it was already served by another credit union. With the name "Coos Curry" no longer representing the new field of membership, the Credit Union officially changed its name to Oregon Federal Credit Union.

Today, Oregon Federal Credit Union is a full-service financial institution with thirteen banking center locations: Coquille, North Bend, Bandon, Reedsport, Coos Bay, Lakeside, Florence, Sutherlin, Independence, McMinnville, Newberg, The Dalles and Ridgefield, WA. The Credit Union prides itself in providing quality service to all area residents through a careful blend of "high-touch and high-technology."

With an average annual growth rate of over 15% for several years, and as a well-capitalized organization, Oregon Federal continues to build its asset and membership base. Now at well over $120 million in total assets and 15,000 members, Oregon Federal Credit Union is a far cry from what could ever have been imagined by those twelve who traveled to Bandon in 1957.