Selco Community Credit Union is headquartered in Springfield and is the 4th largest credit union in the state of Oregon. It is also the 160th largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 412 employees and 150,852 members at 17 locations. Selco Community Credit Union has an A health rating.
SELCO Community Credit Union membership is open to individuals who live or work in the Oregon counties of Baker, Benton, Clackamas, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Grant, Harney, Hood River, Jackson, Jefferson, Josephine, Klamath, Lake, Lane, Lincoln, Linn, Malheur, Marion, Multnomah, Polk, Wasco, Washington, or Yamhill, or the Washington counties of Clark, Cowlitz, King, Kitsap, Lewis, Pierce, Snohomish, or Thurston.
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I've had a savings account with SELCO community credit union since I was a child, and they have always treated me well. There's no ridiculousness about me not being allowed to talk to a teller unless I have a certain amount of money in my account. It is how a bank should be, fast and helpful tellers, easy to use online software, interesting opportunities for life insurance, just an overall good place to keep my money.
I've had a savings account at Selco Credit Union since I was little, and now that I'm a grown adult I still enjoy working with Selco. My Kitty Club Savings Account has grown up with me and is now accompanied by a Checking account and an IRA account. I wouldn't want to use any other credit union. I was quite the happy camper when I switched my checking account from a larger commercial bank to Selco. Couldn't recommend any more.
I opened a personal account with Selco Credit Union when I moved to Oregon in 2012. Never any problems. I opened a business account with them earlier this year and again have had positive experiences. If I had to knock off a star or two it would be because they are not open on Saturdays (surprised me!). And the other thing that is a bit of a pain is the limited number of branches. They are regional (obviously), but my branch is the only one within 40-50 miles. Their finances are in line and they are not at risk of folding, so it isn't a large issue. Besides, they do provide me with a great online experience (but sometimes I have to wait for a day or 2 for an online email response) and fees are very competitive, so I'll be sticking with them for the foreseeable future.
A few years ago I stopped in at Selco credit union to see if it would be valuable to switch my checking and savings account over from my larger commercial bank. I was unsatisfied with my bank at the time because of overdraft fees, I hadn't bounced any checks, but they would make withdraws before crediting my deposits, even if I had made the deposit first. The Selco I stopped at was close to my home and in a large retail chain, I thought the location would be easy to access and they also had extended hours which seemed convenient. When I talked to the teller she seemed very excited and welcoming, she took a general application and my drivers license to see about opening an account. Immediately after running my information her whole demeanor changed. She asked if I had ever banked with a certain bank and I indicated that I had in my college years, about fifteen years prior. She said I needed to contact that bank immediately as they had marked my credit report with a very derogatory mark and indicated that Selco would not be able to offer me a new account. Obviously I was distressed, I have a good credit score and was concerned what was on my report. I immediately called the other bank upon returning home and that service agent told me there was no red flags or comments under my name. I also checked my credit report and there was nothing derogatory there. I don't know if she transposed one of my numbers but the entire experience was strange and left a bad impression. I have never considered doing business with this credit union again.
Daniel Wright (probably spelled wrong) is assistant manager at the Eugene Division street branch. I brought in $30 in coin. They use to take my wrapped coin then once last year I used their machine in the lobby. This morning I was told me I'd have to use the machine - even for that small amount. Ms. Wright then proceeded to create a confrontational issue with me - the long time customer. I was given various vain reasons - "it takes too long to count by hand (no one was in the line)", "our teller's draw can't hold all the coin", etc. She told me they can't be inconvenienced but had no problem inconveniencing me - a senior - expecting me to drive miles out of my way to one of their branches that had a machine.
Eventually she gave in when I said "Guess I should consider having my Social Security check deposited into my Ally bank account". Whalaa - suddenly they had the time to count it (took about 2 minutes) and the space in their facility to store it.
SELCO, at least the branch on Division, has gone downhill. Too sad too - all because of a assistant manager desperately in need of basic customer interaction skills.
Besides - Ally bank has much better rates!
|Return on Assets - YTD||1.05%|
|Return on Equity - YTD||12.51%|
|Annual Interest Income||$50.4MM|
|Assets and Liabilities|
|Assets||Q3 2022vs Q3 2021||$2.61B$2.49B|
|Loans||Q3 2022vs Q3 2021||$1.84B$1.42B|
|Deposits||Q3 2022vs Q3 2021||$2.37B$2.23B|
|Equity Capital||Q3 2022vs Q3 2021||$218.3MM$245.7MM|
|Loan Loss Allowance||Q3 2022vs Q3 2021||$12.4MM$12.1MM|
|Unbacked Noncurrent Loans||Q3 2022vs Q3 2021||$3.3MM$1.1MM|
|Real Estate Owned||Q3 2022vs Q3 2021||$0$0|
Rates for Selco Community Credit Union are currently being reviewed.