Advantis Credit Union is headquartered in Milwaukie and is the 4th largest credit union in the state of Oregon. It is also the 183rd largest credit union in the nation. It was established in 1928 and as of March of 2014, it had grown to 159 employees and 54,680 members. Advantis Credit Union's savings rates are 6X the national average, and it boasts a A+ health rating.
Membership is open to anyone living, working, or is an organization located within Benton, Clackamas, Columbia, Hood River, Lane, Linn, Marion, Multnomah, Polk, Washington, and Yamhill counties in Oregon; or if you live, work, worship or attend school anywhere in the state of Washington; or if you are an immediate family member of someone eligible for membership. - See Details
My wife and I are in the process of closing our two FUSION checking accounts with Advantis because they have become more rule-bound and impersonal than any of the three other local credit unions or two large, national banks that we also do business with currently. We're moving the majority of our cash deposits back to Point West Credit Union, which by the way, currently offers higher rates of return (2.5%) with easier and fewer requirements in their version of "fusion" accounts...
It is unfortunate because we originally liked our relationship with Advantis. However, like what we found years ago with Onpoint/Portland Teachers, when Advantis started their expansion and building/developing their own branches, it seems the organization began getting a bit too full of themselves. Also like what we saw with PTCU, after this began, the competitiveness of their service and products really started to drop off.
In particular, we think couples with multiple accounts really should examine the local market beyond Advantis. Why? We found that Advantis' policies are discriminatory against couples with multiple accounts.
For example: To gain the higher rate of interest in their FUSION account (currently 2%), one of the requirements is to complete 12 ATM-based transactions each "statement" cycle. They give one exception, one time, no matter how many accounts you have.
So, if you are an individual member with one FUSION account, you get one exception. Interestingly however, this one exception also applies to couples (two members) who, like us, had two FUSIONS accounts. So, one of our accounts got this exception, the other was never even eligible for an exception. Why not?
If you are single and opening one FUSION account, Advantis is probably an OK option-- particularly if their branches are convenient for you. Their staff are nice and helpful.
If you're a couple and want or need multiple accounts -- definitely look elsewhere. There currently are better options in Portland. Besides, it seems that Advantis' management is looking to attract and retain a customer base other than you anyway.
BAIT AND SWITCH. They did not pay that rate, not once! I had months with more then 20 debit transactions (they require a minimum of 12 for promised rate) Some vendors ran my debit card differently then the way Advantis credits you for an transaction, keeping me from that rate. SO Sketchy!!! ON TOP OF THAT, They bait you in with a decent interest rate, and hide behind that AND provide ABSOLUTELY no customer service to customers. They charge you for everything as well! If you need a copy of a check, need temporary checks, they can't even provide these basic services. (cant even do that!)
Advantis recently expanded its territory to include ALL of Washington State, and 24 counties in Oregon. I went online to switch our checking to Advantis in November 2013 and do not regret it, despite the fact that their nearest office is 40+ miles from our house. Since we wanted personalized PINS, we did have to visit an Advantis office in person, but everything else was done online. I got a free set of 6 "starter checks" when I opened up the account, which I used to give a VOIDED check to set up direct deposit with my employer. I was able to change over ALL of my other checking debit functions with billers & credit card payments ONLINE without using any voided checks. Their Billpayer service works fine for my automatic monthly donation to a local charity. When I was about to bounce a payment to American Express because I accidentally listed my Advantis checking as "savings", I phoned up Advantis before they got the bounced check listing from the ACH, and ADVANTIS WAIVED MY overdraft fee! No other bank or CU in pays more than 2.25% for folks in Salem area, and on such a large maximum balance ($25K)! And their transaction notification system alerts allows lots of customization. Only need 12 Debit Card uses per month (without any requirements for signatures versus PINs).
Advantis is very good at communicating with customers, email or phone calls, and works hard to develop the client relationship. They usually are quick on deposits and normally will not charge excessive (if any) fees for accounts. Getting consumer secured loans usually doesn't mean competitive rates though, and if you don't have exceptional credit, I would shop for a car or home loan elsewhere, and actively. ATM fees are waived until you pass the 5th one in a month, then $1 is charged. Kind of ridiculous being they only have a few locations around the city. When buying a car, they hard sell you on binders and life insurance, much like a dealer. Overall, not a bad place to go, unless you want good, solid and reasonable rates to rebuild credit.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Advantis Credit Union had $2.05 million in non-current loans and owned real-estate with $115.71 million in equity and loan loss allowances on hand to cover it. This gives Advantis Credit Union a Texas Ratio of 1.77% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Advantis Credit Union experienced no significant changes from 1.94% as of March 31, 2013 to 1.77% as of March 31, 2014, resulting in a positive change of 8.59%.This indicates that the balance sheet and financial strength for Advantis Credit Union has had no significant changes in recent periods.
In the past year, Advantis Credit Union has increased its total deposits by $108.28 million, resulting in 12% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Advantis Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Advantis Credit Union has $1.14 billion in assets with $115.71 million in equity, resulting in a capitalization level of 10.19%, which is above average.
|Assets and Liabilities|
|Equity Capital||$110.56 million|
|Loan Loss Allowance||$5.15 million|
|Unbacked Noncurrent Loans||$1.90 million|
|Real Estate Owned||$147,000|
|Historic Data - March 2013|
|Equity Capital||$101.27 million|
|Loan Loss Allowance||$3.67 million|
|Unbacked Noncurrent Loans||$1.90 million|
|Real Estate Owned||$145,000|
|Profit Margin - Quarterly|
|Net Interest Margin||1.03%|
|Return on Assets||0.55%|
|Return on Equity||5.65%|
|Interest Income||$9.54 million|
Always verify rates and promotions with the bank or credit union. We are not Advantis Credit Union, we are a rate comparison website and can not provide official rates or promotions.
|2.90%||$250k||-||Deferred Compensation Account|
|0.80%||$50k||-||Premium ESA Savings|
|0.80%||$50k||-||Premium Roth IRA Savings|
|0.80%||$50k||-||Premium IRA Savings|
|0.55%||$10k||-||HSA Interest Checking|
|0.30%||$50k||-||Roth IRA Savings|
|0.55%||$250k||-||Premium Money Market|
|0.50%||$250k||-||Business Premium Money Market|
|0.30%||$50k||-||Standard Money Market|
|0.30%||$50k||-||Business Standard Money Market|
|1.75%||-||$25k||Fusion Checking - Qualifying|
|0.15%||$50k||-||Business Solutions Checking|
|0.10%||-||-||Fusion Checking - Non Qualifying|
|0.95%||$100k||-||36 Month CD|
|0.95%||$100k||-||Business 36 Month CD|
|0.70%||$100k||-||24 - 36 Month CD|
|0.70%||$100k||-||Business 24 - 36 Month CD|
|0.45%||$100k||-||12 - 23 Month CD|
|0.45%||$100k||-||Business 12 - 23 Month CD|
|0.40%||$100k||-||13 Month Bump CD|
|0.40%||$100k||-||Business 13 Month Bump Rate Special CD|
|0.35%||$100k||-||6 - 11 Month CD|
|0.35%||$100k||-||Business 6 - 11 Month CD|
|0.20%||$500||-||24 - 36 Month HSA Certificates|
|0.15%||$500||-||12 - 23 Month HSA Certificates|
|0.10%||$500||-||6 - 11 Month HSA Certificates|
|0.95%||$100k||-||36 Month IRA|
|0.70%||$100k||-||24 - 36 Month IRA|
|0.45%||$100k||-||12 - 23 Month IRA|
|0.35%||$100k||-||6 - 11 Month IRA|
|Advantis Credit Union Locations|
|Branch Office||10501 SE Main St Ste 300||Milwaukie, OR 97222|
|Branch Office||3515 NE 15th Ave||Portland, OR 97212|
|Branch Office||7387 NE Butler St||Hillsboro, OR 97124|
|Branch Office||120 SW Taylor St||Portland, OR 97204|
|Branch Office||3010 SE Belmont St||Portland, OR 97214|
|Branch Office||825 NE Multnomah St Ste 110||Portland, OR 97232|