State of the Cascades West
Economic Development District:
The Banking Industry
By
Blake Helm
Intern, Community and Economic Development Department
Oregon Cascades West Council of Governments,
Fred Abousleman
Executive Director
Oregon Cascades West Council of Governments,
and
Phil Warnock
Community and Economic Development Director
Oregon Cascades West Council of Governments
A State of the Region White Paper
Published by the Oregon Cascades West Council of Governments
October 2016
Background
The financial crisis of 2008-2009 along with larger national trends in the banking industry has accelerated the closing
and consolidation of banking institutions across the United States.
Financial institution closures and consolidations leave communities in both urban and rural areas without access to
basic traditional financial services. The growth of internet and mobile banking options have made access to nontraditional banking more available. The loss of a “brick-and-motor” financial service location may cause households
to disproportionately rely on alternative financial services (Kashiann, Tao, and Valdez) and force small businesses to
reconsider day-to- day operations or financing options for start-up and expansion.
With respect to our Regional population of seniors and people with disabilities local access to banking is important.
Many of our senior and disabled population do not drive or do not have access to public or other transit, and in some
cases have limited access to internet and mobile banking options. Increasing physical distance to on-site banking
negatively affects these populations.
The banking industry also plays an essential role in economic development, particularly in rural communities where
access to capital can be limited. Without a financial service branch, where businesses may develop personal
relationships, rural communities may struggle economically, creating a strain on limited resources. Small businesses
without needed financial capacity or financial acumen often cannot afford to invest in the infrastructure improvements
necessary for start-up or expansion.
The financial services industry cites the decline of rural populations and subsequent deposits and loans as being part
of their decision to consolidate locations. While this is a positive economic point for banks and credit unions there is
often no follow-up on how to provide alternative financial services solutions to the communities they leave (Walser
and Anderlik). While this White Paper recognizes the planning and growth obstacles many rural communities face, it
focuses on positive alternatives to traditional “brick-and-motor” financial institutions and what possible paths exist to
rebuilding financial institutions in our Region.
Purpose
Our common Regional economic shed is bounded by the Cascades West Economic Development District (CWEDD),
which encompasses Lane, Benton, Linn, and Lincoln Counties. The CWEDD is a federally designated entity authorized
and funded through the U.S. Department of Commerce’s Economic Development Administration.
The CWEDD is charged with planning for long-term and regional economic growth, particularly in communities that
struggle to create, retain, and attract industry and jobs. The CWEDD is not responsible for coordinating financial
institutions decisions on locations, but is increasingly aware of the barriers that the lack of on-site financial institutions
can have on communities. The CWEDD can help convene discussions with local governments, the private sector, and
State and Federal agencies on opportunities in each community of the CWEDD.
This White Paper outlines the state of rural financial institutions in the CWEDD, which financial institutions have closed,
how many, where and when those closures occurred, and identities at-risk communities, between 2005-2013. The
authors specifically choose to work within this set of dates, as 2013 is the most current set of data available from the
Population Research Center (PRC) at Portland State University (PSU).
Organization of Document
This document is organized as follows:
•
•
•
•
Methods (page 3)
State of the CWEDD (page 3)
Rural Financial Solutions (page 11)
Bibliography (Page 14)
2 This document also contains four Appendices:
•
•
•
•
Appendix A: Glossary of Terms (page 15)
Appendix B: Map (page 18)
Appendix C: Charts and Tables (page 19)
Appendix D: Acronym List (page 23)
Oregon Cascades West Council of Governments
Methods
Data was collected from the Oregon Employment Department on the location of business with NAICS (North American
Industry Classification System) codes of 522110 (commercial banking), 522120 (savings institutions), and 522130 (credit
unions) for the years 2005 to 2013. Through the use of this database, along with geographic information analysis and
archival research, banking deserts, and at-risk communities were identified. Only financial institution branches listed as
physical locations were used in this White Paper’s analysis. Branches listed with Post Office Boxes or whose branch
address is associated with an institution’s unemployment insurance were not used. A financial institution branch was
considered closed if their 4th Quarter employment reports were 0 or if in the ensuing years that branch was not listed.
Data was also collected from the Federal Deposit Insurance Corporation (FDIC) and National Credit Union Association
(NCUA) in order to determine deposit share by city (FDIC) and asset size by institution (NCUA). Population statistics,
unless otherwise stated, are from the Population Research Center (PRC) at Portland State University (PSU).
State of the CWEDD
The CWEDD, as of the end of 2013, has a total of
208 individual financial institution branches operated
by 44 separate financial institutions. As Chart One
shows, the CWEDD saw a marginal net increase of two
financial institution branches from 2005 to 2013. Benton
and Lincoln Counties had net decreases in financial
institution branches while Lane and Linn Counties had
net increases. Linn County had the largest net increase
of financial institution branches with three and Lincoln
County had the largest net decrease with two. Chart One
also illustrates how Lane and Linn Counties accounted
for the majority of change in financial institution branches.
Chart Two displays the net change in financial institution
branches by city for 2005-2013. The majority of cities in
the CWEDD saw no net change in financial institution
branches. Only four cities in the CWEDD
saw a net increase during this time period,
with Albany, Eugene, and Lebanon having
the largest increases with two. Corvallis,
Newport, Oakridge, Scio, and Toledo all
had a net decrease of one.
Chart One: Net Change by County, 2005-2013
Source: Oregon Employment Department (OED), 2005-2013
Chart Two: Net Change by City: 2005-2013
Source: OED, 2005-2013
Oregon Cascades West Council of Governments
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Chart Three displays the total number of financial institution
branches for each county in the CWEDD by year for 20052013. Financial institution branches in the CWEDD continued
to increase up until 2010, where they peaked at 223. Also
notable is the total number of financial institution branches for
the CWEDD increased during the recession and only started
to decline in 2012, eventually reaching pre-recession levels
by the end of 2013. At their peak in 2010 Lane County had
increased by 10 branches to a total of 134 and Linn County
increased by five to a total of 41. Comparatively, by 2010
Benton County had decreased by one financial institution
branch to 21 and Lincoln County maintained its banking
branches at 27.
Chart Three: Total Number of Bank Branches by
County, 2005-2013
Source: OED, 2005-2013
Chart Four shows the total number of urban and rural financial
institution branches in the CWEDD by year for 2005-2013.
Financial institution branches were considered ‘rural’ if they
were located in a city with a population less than 5,000 or
were located in an unincorporated community. Overall, rural
communities saw a decrease of three financial institution
branches, while urban communities gained five. The chart
illustrates how financial institution branches tend to be located
in urban communities; as of the end of 2013, only ten percent
(10%) of financial institution branches in the CWEDD are
located in rural communities.
Chart Four: Total Urban and Rural Bank Branches,
2005-2013
Commercial Banks and Credit Unions
Source: OED, 2005-2013
Commercial Banks and Credit Unions, despite operating
within the same industry, have different missions. Commercial banks are for-profit institutions, owned by stakeholders,
and are open to the public. Credit Unions are not-for-profit institutions, who are open to members with a common
interest or affiliation. This section details the number of financial institutions and branches of commercial banks and
credit unions in the CWEDD.
Chart Five: Number of Banking Institutions by Type,
2005-2013
Chart Five displays the total number of financial institutions
by type in the CWEDD. The chart shows that credit unions
and commercial banks for most years had roughly the
same number of institutions in the CWEDD - three.
During this time period, commercial banks added few
institutions and overall maintained its total number of
institutions in the CWEDD at 19. Credit Unions in contrast,
quickly added a number of institutions, increasing from
19 institutions in 2005 to 25 in 2009, before eventually
tapering off to 22 institutions in 2013.
Source: OED, 2005-2013
4 Oregon Cascades West Council of Governments
Chart Six illustrates how the number of branches differs
by type in the CWEDD. The chart clearly shows that
commercial banks operate the vast majority of branches
in the CWEDD, despite credit unions and commercial
banks having nearly the same number of institutions.
For any given year between 2005-2013, the average
difference between the number of credit union and
commercial bank branches were roughly 100.
Chart Six: Number of Bank Branches by Type, 2005-2013
For the time period studied, commercial bank institutions
on average had roughly three times as many branches
as credit unions. Commercial banks had on average
between seven or eight branches per institution. Credit
unions averaged a little over two branches per institution.
Source: OED, 2005-2013
Deposits, Market Share, and Asset Size
Table One shows the CWEDD’s deposits and respective market share by county as of 2013. Deposits and market
share for the CWEDD was calculated using data collected for commercial banks and excludes institutions not regulated
by the FDIC, i.e. credit unions. As Table One shows, the majority of deposits in the CWEDD are held in Lane County
(62%), with the remaining counties splitting deposits near even.
Table One: Deposit Share by County, 2013
District and County
FDIC Institutions
Deposits ($000)
Market Share
Benton County
9
$924,465
14%
Lane County
15
$4,168,288
62%
Lincoln County
9
$742,657
11%
Linn County
10
$847,402
13%
43
$6,682,812
100%
CWEDD
Source: FDIC, Summary of Deposits 2013
This inequality of deposit distribution can be seen as a product of each County’s share of the CWEDD’s population. As
Table Two shows, Lane County makes up 58% of the CWEDD’s population, followed by Linn (19%), Benton (14%), and
Lincoln (8%) Counties. County population does not determine its deposit share exactly, however, it is a good indicator.
Table Two. Population by County, 2013
District and County
Population Number
Population Percent Deposits Per Capita
CWEDD
609,075
100%
$10,972
Benton County
87,725
14%
$10,538
Lane County
356,125
58%
$11,705
Lincoln County
46,560
8%
$15,951
118,665
19%
$7,141
Linn County
Source: PSU Population Estimates, 2005-2013
Oregon Cascades West Council of Governments
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Table Three shows deposit share by rural/urban classification for 2013. The overwhelming majority of deposits are
held in urban communities, which can mainly be seen as a product of population. Urban communities hold 94% of all
deposits in the CWEDD, with Eugene accounting for over 40% of deposits.
Table Three. Deposit Capture Rural/Urban 2013
Area
FDIC Institutions Total Populations Deposits ($000) Market Share Deposits Per Capita
Urban
19
398,359
$6,267,410
93.8%
$15,733
Albany
10
51,583
$513,532
7.7%
$9,955
Corvallis
8
55,298
$828,309
12.7%
$14,979
Cottage Grove
5
9,795
$149,533
2.2%
$15,266
Creswell
1
5,060
$27,618
0.4%
$5,458
Eugene
13
159,190
$2,847,031
42.6%
$17,884
Florence
5
8,466
$304,268
4.6%
$35,940
Junction City
4
5,651
$107,138
1.6%
$18,959
Lebanon
7
15,930
$184,819
2.8%
$11,602
Lincoln City
7
8,040
$200,564
3.0%
$24,946
Newport
8
10,117
$375,874
5.6%
$37,153
Springfield
11
60,177
$628,929
9.4%
$10,451
Sweet Home
3
9,052
$99,795
1.5%
$11,025
Rural
10
33,799
$415,402
6.2%
$12,290
Bronwsville
1
1,686
$13,286
0.2%
$7,880
Depoe Bay
1
1,400
$20,614
0.3%
$14,724
Harrisburg
2
3,648
$40,695
0.6%
$11,155
Mapleton
1
918
$10,154
0.2%
$11,061
Monroe
1
616
$25,612
0.4%
$41,578
Oakridge
1
3,196
$16,924
0.3%
$5,295
Philomath
2
4,574
$70,544
1.1%
$15,423
Pleasant Hill
1
5,665
$21,527
0.3%
$3,800
Siletz
1
1,189
$9,215
0.1%
$7,750
Toledo
2
3,466
$31,142
0.5%
$8,985
Venta
2
4,657
$50,441
0.8%
$10,831
Waldport
4
2,081
$92,132
1.4%
$44,273
Yachats
1
703
$13,116
0.2%
$18,657
Total
19
432,158
$6,682,812
100%
$15,464
Source: FDIC, Summary of Deposits 2013
6 Oregon Cascades West Council of Governments
Credit Unions are regulated by the NCUA and are only required to provide a call report at the institutional level. The
different regulatory requirements of credit unions and commercial banks make it difficult to make a complete accounting
of all deposits in the CWEDD. To accommodate this regulatory discrepancy, Table Four was included in this White
Paper, which lists all credit unions operating in the CWEDD, along with their total shares and deposits.
Table Four: Credit Unions in the CWEDD by Asset Size, 2013
Credit Union
Total Shares and Deposits
Benton County Schools
$37,875,396
B-Mart Federal
$6,274,281
Central Willamette Community
$201,709,776
EWEB Employees Federal
$19,402,989
First Technology Federal
$4,495,806,849
Food Industries
$20,296,791
LANECO Federal
$15,649,810
Linn-Co Federal
$68,941,506
McKenzie Valley Federal
$3,011,368
Northwest Community
$722,593,176
Oregon State University Federal
$716,275,526
Onpoint Community
$2,958,223,433
Oregon Community
$1,047,340,887
Oregon First Community
$691,222,803
Oregonians
$266,744,658
Pacific Cascade Federal
$90,025,423
Pacific Spruce Federal
$3,104,483
Red Canoe
$510,732,188
Register Guard Federal
$17,359,050
SELCO Community
$976,167,628
TLC Federal*
$110,821,680
Source: NCUA 5300 Call Report, NCUA.gov
* Operated by FibreFederal Credit Union, Total Shares and Deposits reflect FibreFederal Credit Union 2013 Call Report
Oregon Cascades West Council of Governments
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Financial Institution Closures
Chart Seven: Bank Closures by Type,
2005-2013
Financial institution closures within the CWEDD are not just a product
of the local economy, but also reflect larger trends in the financial
services industry and the national economy. The decision on whether
to close a branch is one of the most complex issues a banker will
face. Branch closings affect the clients of the closed branch and the
surrounding branches, but also may have repercussions throughout
the financial institution and its communities. There are two primary
reasons why a branch may be closed: poor performance, as
measured by financial statistics such as balances or income; and
proximity to other branches.
Source: OED, 2005-2013
Most closures in the CWEDD occurred during the years 20112013 - eleven were commercial banks, five were credit unions.
See Chart Seven for more details. Most closures occurred in urban
communities, with the majority of closures occurring in Eugene
and Springfield. See Chart Eight for more details. During 20142015 more financial institutions closed and many institutions have
announced plans for closing branches in the future. Brownsville,
Yachats, and Scio all lost their remaining financial institution during
this time period. Available data, however, is limited to newspaper
and industry publications. At the time of this White Paper, the OED
has yet to publish employment data for 2014-2015.
Chart Eight: Bank Closures by City,
2005-2013
Source: OED, 2005-2013
Table Five lists the number of branch closures by financial institution.
Table Five: Number of Branch Closures by Institution, 2005-2013
Banking Institution
Number of Closures
Bank of America
2
Bank of Oregon
1
Century Bank
1
CH2M Hill Federal Credit Union
1
Community America Credit Union
1
First Tech Federal Credit Union
1
Home Federal Bank
1
JPMorgan Chase Bank
2
Key Bank
1
Oregon Community Credit Union
1
OUR Federal Credit Union
1
SELCO Community
3
Sterling Savings Bank
5
Washington Mutual
4
Wells Fargo
1
West Coast Bank
1
Source: OED, 2005-2013
8 Oregon Cascades West Council of Governments
At-Risk Communities
Below is a list of communities with no institutions and at-risk communities identified in the CWEDD. The average vehicle
miles traveled (VMT), was determined by calculating the distance from a banking desert or an at-risk community’s
city-center to the city-center of the nearest community with a financial institution branch that wasn’t itself a financial
institution desert or at-risk community. This analysis was performed using Google© Maps.
No Financial Institution Within the Communities
Brownsville
Communities that are At-Risk to Lose Their Financial Institutions
Depoe Bay
Population 1,680
VMT 13 miles
Population 1,410
Number of Branches 1
Nearest Branch Lebanon
Lowell
VMT 12 miles
Nearest Community Newport or Lincoln City
Population 1,060
Mapleton
VMT 18 mies
Nearest Branch Creswell or Springfield
Population 918
Number of Branches 1
Lyons
VMT 14 miles
Population 1,160
VMT 26 miles
Nearest Branch Salem
Mill City
Population 1,875
VMT 32 miles
Nearest Branch Salem
Scio
Population 830
VMT 18 miles
Nearest Branch Albany
Siletz
Population 1,235
VMT 9 miles
Nearest Branch Toledo
Westfir
Population 255
VMT 38 miles
Nearest Branch Creswell or Springfield
Yachats
Population 720
Nearest Community Florence
Monroe
Population 610
Number of Branches 1
VMT 9 miles
Nearest Community Junction City
Oakridge
Population 3,220
Number of Branches 3
VMT 40 miles
Nearest Community Creswell or Springfield
Pleasant Hill
Population 5,665
Number of Branches 1
VMT 8 miles
Nearest Community Creswell
Toledo
Population 3,485
Number of Branches 2
VMT 7 miles
Nearest Community Newport
VMT 9 miles
Nearest Branch Waldport
Bank of the West branch closed between 2013 and 2015
in Yachats.
Oregon Cascades West Council of Governments
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Population Change
All counties in the CWEDD are growing in population, though as a Region the CWEDD is growing at a slower rate than
the State with one exception: Linn County. Table Five displays population change in the CWEDD by City. The vast
majority of cities in the CWEDD are growing in population, with many outpacing the State of Oregon.
Table Five: CWEDD Population Change, 2005-2015
District and
County
Population Estimates
Population Change
2005
2013
2005
2013
Benton County
82,835
87,725
4,890
5.9%
Lane County
336,085
356,125
20,040
6.0%
Lincoln County
44,405
46,560
2,155
4.9%
Linn County
107,150
118,665
11,515
10.7%
CWEDD
570,475
609,075
38,600
6.8%
3,631,440
3,919,020
287,580
7.9%
Oregon
Source: PSU Population Estimates, 2005-2013
Also notable is that many communities identified as at-risk communities are growing in population: Brownsville, Depoe
Bay, Lowell, Lyons, Mill City, Monroe, Scio, and Siletz. Of these eight communities, only two (Lyons and Monroe) are
growing at a slower rate than the State. With a growing population and little or no financial institutions serving these
communities, residents and small business owners will need to turn to more expensive alternative financial services or
be forced to use financial institutions that operate outside of their respective communities.
Implications
National trends of slow economic and population growth for a large number of rural counties over the past decade is
troubling for community banks and credit unions (Walser and Anderlik). Community banks are commercial banks that
largely focus on relationship building and lending, as well as core deposits from the surrounding community for their
economic vitality (Gilbert & Wheellock). As banks and credit unions choose to either close their doors or merge with
larger institutions, local residents and businesses are forced to seek out costly alternative financial services.
10 Oregon Cascades West Council of Governments
Rural Financial Solutions
There are possible solutions to the crisis of losing a financial institution. Rethinking what banking means to both the
consumer and business may offer new opportunities to communities.
Attracting a bank or capitalizing on a community institution
For communities that have the potential for millions in deposits, access to immediate capital, and the guarantee of many
users, communities can open their own financial institution. According to Dan Hudson, founder and CEO of Nubank, an
Irvine, California-based firm providing everything from consulting to marketing to education throughout the process of
opening and operating a financial institutions. There are five basic phases of starting a bank:
THE FIVE PHASES OF STARTING A FINANCIAL INSTITUTION:
ESTIMATED TIME RANGE FROM START TO FINISH, 18 TO 24 MONTHS.
PRE-FILING
• An organizing group - usually at least six people, but
varies by state - is formed which develops a vision
for the financial institution (type, services) and selects
management.
• Management must have experience, integrity, and
community contacts, or charter approval is not likely.
• Three to four months.
CAPITAL PRE-LAUNCH
• Management prepares final details for opening
(equipment, procedures, forms, supplies, marketing
materials, staff).
• For a bank, action plan for selling stock is developed.
• After a final inspection from regulators, preliminary
permission to open is granted.
• Four to six months.
POST CONDITIONAL APPROVAL
APPLICATION
• Must include a tentative location for the financial • Regulators conduct a final field interview to ensure
financial institution is ready to accept customers or
institution and list of potential Directors, as well as
members. If so, organizing group can get a charter
comprehensive backgrounds of proposed Directors.
and open for business.
• State filing fee is typically $15,000.
• One month).
• Four to six months.
REGULATORY REVIEW
• Regulators analyze the market, organizers, and
provide recommendations to the proposed financial
institutions.
• If a charter is organized, organizing group has up to
one year to open the financial institution.
• The financial institution cannot take deposits until
FDIC or NCUA insurance is paid.
• Six months or more.
The initial funding round can be the most difficult. Acquiring $2-$10 million in start-up capital is a steep hill for smaller
communities. However, in areas with agribusiness, manufacturing, or other established small and medium business
who are looking to access a local financial institution this alternative might be a way forward.
Interactive Bank Teller
Industry experts are lauding Interactive Bank Tellers (IBT) or Interactive Teller Machines (ITM) as a solution to the
departure of financial institutions from rural markets. These devices allow human tellers to interact with customers via
video conferencing technology. IBTs allow tellers to ask customers how they prefer their withdrawals (in 20s, 50s or 100s);
verify their identity; and accept stacks of up to 30 deposited checks or bills from local store owners. If customers find IBTs
daunting and require assistance, the teller is there to guide them through the process on screen, just like on a videophone
call. IBTs can allow financial institutions to lengthen their hours of operation, open on secondary holidays, and they
require less real estate than a traditional brick-and-mortar institution. The potential savings for an industry where branch
personnel account for 45% of expenses is a big attraction for the chief financial officers who run their financial institutions’
balance sheets. Companies are already working on the next generation of IBTs. A proposed improvement will allow smallbusiness owners to deposit a mixed stack of bills and checks up to 50 deep, instead of the present 30.
Oregon Cascades West Council of Governments
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One drawback reported about IBTs is the possibility of job loss, with some estimating that IBTs could play a role in the
elimination of around 20% of teller jobs in the United States. IBTs also do not offer much help for small business owners
looking to access new lines of credit or capital, or for municipalities needing capital for infrastructure improvements.
Mobile Banker
Not to be confused with banking by mobile phone, mobile banking involves bringing financial services to rural and
isolated communities through specialized vehicles. This is seen as one possible solution to the escalating withdrawal of
financial institution branches from rural, suburban, and inner city communities. Mobile banks can accept deposits, cash
withdrawals, bill payments, and have on-board customer phone facilities for contacting central areas to inquire about
loans, credit cards, mortgages, insurance, and other financial services offered by financial institutions. This can prove
vital to customers unable to get to a traditional financial institution branch.
There are many drawbacks to relying on a mobile bank for financial services. Most importantly the service is costly, especially
when you consider the number of customers served. The vehicles necessary for operating this type of service are highly
specialized and expensive. Recently the Royal Bank of Scotland bought five new vans at the cost of over $900,000.
U.S. Postal Service Financial Services
An Act of Congress in 1910 established the Postal Savings System in designated Post Offices. The legislation aimed to
get money out of hiding, attract the savings of immigrants accustomed to saving at Post Offices in their native countries,
provide safe depositories for people who had lost confidence in banks, and furnish more convenient depositories for
working people.
After the World War II, banks raised their interest rates and began offering the same governmental guarantee as the
Postal Savings System. In addition, U.S. savings bonds gave higher interest rates. Deposits in the Postal Savings
System declined, dropping to $416 million by 1964.
In 1966, the Post Office Department stopped accepting deposits to existing accounts, refused to open new accounts,
and cut off interest payments as the annual anniversary date of existing accounts came up. When the system ended
officially on July 1, 1967, about $50 million in the unclaimed deposits of more than 600,000 depositors was turned over
to the U.S. Treasury Department to be held in trust indefinitely.
Recently prominent politicians have renewed interest in using Post Offices to provide budget-priced banking services
to U.S. savers. The U.S. Postal Service (USPS) would expand the kinds of financial services it offers, permitting
“unbanked” and “underbanked” customers to take out small loans, cash checks, pay bills, and open savings accounts
– all at their local post office. According to the Inspector General, entering this market could help USPS reap as much
as $10 billion in annual revenue – and close its budget gap.
Even just expanding the financial services the Post Office already offers, by adding electronic wire transfers and ATMs
to existing offerings of selling paper money orders and prepaid cards, and executing international money transfers,
could raise as much as $1.1 billion in additional revenues for USPS. This means that by expanding financial services
offerings at post offices the USPS could solve its chronic budget deficit.
Internet Banking
Internet banking offers options for citizens and/or businesses that do not require complex banking solutions. According
to Geoffrey Michael of the website Investopedia internet banks or ebanks,”offer convenience of being open 24/7; better
rates, as they have less overhead; better services tied to technology, such as financial planning capacity, or forecasting
tools; and, mobile applications.” There are downsides to ebanks as well. According to Michael, “the absence of a faceto-face banking relationship means “out of the box” solutions to everyday or complex problems may be harder to find.
For example, the reversal of fees for long-time customers or understanding a local business’ need for capital to expand.
Furthermore, complex transactions are harder to accomplish. According to Michael, “specific and unique issues that
require a team approach may be unavailable, or issues with international banking may be more difficult; also ATMs and
service windows may be needed but unavailable.”
Access to ebanks requires internet connectivity. Some communities within the CWEDD are still experiencing issues with
broadband internet access.
12 Oregon Cascades West Council of Governments
Joint Branch Banking
Joint Branch Banking involves two or more banking institutions jointly operating one branch office. These partnerships
give many customers or members the chance to do business with their financial institution of choice five days a week
and reduce the financial burden of operating a branch independently.
An example of joint branch banking comes from Philadelphia, PA where Eagle One Federal Credit Union (FCU) and
SERVCO FCU, both of which are Low-Income Designated Credit Unions (LIDCU), recently opened a shared branch
office. The branch is the first for SERVCO FCU and the fifth for Eagle One FCU. Eagle One FCU has $45 million in
assets and serves postal employees in the Philadelphia CWEDD, as well as the communities of Fishtown in Philadelphia
and Claymont, DE. SERVCO FCU, which originally served employees of the old Gulf Oil Corporation, has less than $3
million in assets and now serves a varied membership base in the Philadelphia area. The new branch office features
three teller windows and back offices for administrative staff and loan officers. The location in northeast Philadelphia will
enable Eagle One FCU to serve the large number of members who live in that area. In return, SERVCO FCU will share
the expenses of the office with Eagle One FCU, thereby reducing the burden of operating the branch independently.
Collaborative / Cooperative Banking
The concept of “collaborative banking” poses a unique channel for small communities to collectively harness their
purchasing power to attract the services they need. To achieve collaborative banking, local governments, state, or
other agencies would combine their assets in a package and then seek out a bank or credit union to guarantee levels
of access for those assets for a period of time to be determined. Memorandums of Understandings would be necessary
for each of the communities to sign to protect the collective assets. The financial institution that “wins” their business
then provides the services guaranteed for those assets. For example, five small jurisdictions pool their assets and ask
in return for one community to have a one-person branch and the other four to have a mobile teller twice a week. Any
reasonable combination of service for those assets can be constructed, as long as the financial institution and the local
jurisdictions find them profitable.
The addition to this construct is that other private assets would not be prohibited from using those banking services.
Local businesses, manufactures, and others would be free to bank with that financial institution providing local service.
The net effect could be strengthening the pool of assets over time making local banking more profitable.
Rethinking the Community Financial Institutions
Financial institutions in rural communities could think beyond the lender relationship. In essence, the rural financial
institution survives because it becomes the purveyor of information, seeks out entrepreneurs, and establishes a
business center to provide expertise to new and expanding businesses. According to Markley and Shaffer, communities
can work with financial institutions on,
...the capital needs of local entrepreneurs, {wherein} community bankers can form
partnerships with other private and public entities. These partnerships can be
forged with public sector institutions, such as state development finance programs,
with private sector community development institutions, or with alternative financial
institutions. These partnerships are necessary to pool limited resources and leverage
funds to support economic growth. These relationships are also helpful in allowing
financial institutions to become more involved in financing local economic activities
without incurring unacceptable levels of risk. Not only are funds pooled through these
partnerships, but risk is shared as well.
The point of this practice would be to attract or retain banks through the use of, and access to, other public and private
funds that may support riskier, but more meaningful, community benefit. By establishing banks as business service
centers, in conjunction with Small Business Development Centers (SBDC), they can provide a full range of start-up
to expansion services and mentorship. The financial institution becomes an essential part of economic growth and
stability. There are several SBDC in our Region including the Lane Community College SBDC in Eugene; Linn-Benton
Community College SBDC in Albany; and the Oregon Coast Community College SBDC in Lincoln City.
Oregon Cascades West Council of Governments
13
Bibliography
Bruhn, M. and Love I. “The Real Impact of Improved Access to Finance: Evidence from Mexico.” The Journal of Finance
69(3) (2014): 1347-1376
Federal Deposit Insurance Corporation (FDIC). Community Banking Study, December 2012. Accessed 19 August 2015
https://www.fdic.gov/regulations/resources/cbi/report/cbi-full.pdf.
Federal Deposit Insurance Corporation (FDIC). National Survey of Unbanked and Underbanked Households, October
2014. Accessed 8 August 2015 https://www.fdic.gov/householdsurvey/2013report.pdf.
Federal Deposit Insurance Corporation (FDIC). Summary of Deposits, 2013. Accessed 10, October 2016 https://www.fdic.gov.
Gilbert, R. Alton, and David C. Wheelock. “Big banks in small places: are community banks being driven out of rural
markets?.” Federal Reserve Bank of St. Louis Review 95.3 (2013): 199-218.
Kashian, Russell D., Ran Tao, and Claudia Perez-Valdez. “Banking the Unbanked: Bank Deserts in the United States.”
(2015)
Markley, Deborah M., and Ron Shaffer. “Rural banks and their communities: a matter of survival.” Economic ReviewFederal Reserve Bank of Kansas City 78 (1993): 73-73.
National Credit Union Association (NCUA). 5300 Call Report, 2013. www.ncua.gov.
Oregon Employment Department (OED). Financial Institution Information by Locality, 2005-2013. Accessed 10, October
2016. https://www.qualityinfo.org/bi.
Portland State University (PSU). Population Estimates, 2005-2013. Accessed 10, October, 2016. https://www.pdx.edu/prc/annual-population-estimates.
Walser, Jeffrey W. and Anderlik, John. “The Future of Banking in America - Rural Depopulation: What Does It Mean for
the Future Economic Health of Rural Areas and the Community Banks That Support Them?”. FDIC Banking Review
Series, Vol. 16, No. 3, (2004)
14 Oregon Cascades West Council of Governments
Appendix A: Financial Services Industry Terms
Agreement Corporation: Corporation chartered by a state to engage in international banking: so named because
the corporation enters into an “agreement” with the FRS' Board of Governors that it will limit its activities to those
permitted.
Alternative Financial Services (AFS): Financial services offered by providers that operate outside of federally insured
banks and thrifts. Check-cashing outlets, money transmitters, car title lenders, payday loan stores, pawnshops, and
rent-to-own stores are all considered AFS providers.
At-Risk Community: Communities with no more than 5,000 residents and at risk of losing the remaining banking
institutions serving them or is otherwise underserved by banking institutions.
Automated Teller Machine (ATM): A machine that automatically provides cash and performs other banking services
on insertion of a card by provided by the financial institution to the account holder.
Banking Desert: Communities with no more than 5,000 residents and no banking institutions serving them.
Bank Holding Company: A company that owns and/or controls one or more U.S. banks or one that owns, or has
controlling interest in, one or more banks. A bank holding company may also own another bank holding company,
which in turn owns or controls a bank; the company at the top of the ownership chain is called the top holder. The
Board of Governors is responsible for regulating and supervising bank holding companies, even if the bank owned
by the holding company is under the primary supervision of a different federal agency (OCC or FDIC).
Banking Institution: A commercial bank, a savings bank, or a credit union, which has a main office with one or more
branches, facilities, or locations that are extensions of the main office of the financial entity.
Branch: Any location, or facility of a banking institution, including its main office, where deposits accounts are opened,
deposits are accepted, checks paid, and loans granted. Some branches include, but are not limited to, brick and
mortar locations, detached or attached drive-in facilities, seasonal offices, offices on military bases or government
installations, paying/receiving stations or units, and Internet and Phone Banking locations where a customer can
open accounts, make deposits, and borrow money. A branch does not include ATMs.
Commercial Bank: A banking institution that is authorized by law to receive money from businesses, institutions, and
individuals, as well as lend money to them. Commercial banks are open to the public, owned by stockholders,
and operate for a profit. These institutions are regulated by one of three Federal commercial bank regulators
(FDIC, Federal Reserve Board, or OCC). Commercial banks submit financial reports to the Federal Reserve (state
member banks) or the FDIC (state non-member banks and national banks).
Community Bank: A banking institution that derives funds from and lends to the community where it operates, and is
not affiliated with a multibank holding company.
Credit Union: Member-owned, not-for-profit financial cooperatives that provide savings, credit, and other financial
services to their members. Credit union membership is based on a common affiliation such as belonging to a
specific community, organization, religion, or place of employment. Credit unions can have federal, state, or
corporate affiliations.
Deposit Share: The percentage of deposits, by commercial banking institution, for a specific geographic area.
Edge/Agreement Corporation: An organization chartered by the Federal Reserve to engage in international banking
and financial operations. Edge corporations can be broken into Domestic Branches, Banking institutions, or
Investment institutions.
Farm Credit System Institution: Any Federally chartered banking institution that is supervised, examined, and regulated
by the Farm Credit Administration and operates in accordance with the Farm Credit Act of 1971, as amended, 12
U.S.C. 2001 et seq. All Farm Credit System Institutions are federally-chartered instrumentalities of the U.S.
Oregon Cascades West Council of Governments
15
Finance Company: A financial intermediary that makes loans to individuals or business.
Finance Holding Company: A financial entity engaged in a broad range of banking-related activities, created by the
Gramm-Leach-Bliley Act of 1999. These activities include: insurance underwriting, securities dealing and underwriting,
financial and investment advisory services, merchant banking, issuing or selling securitized interests in bankeligible assets, and generally engaging in any non-banking activity authorized by the Bank Holding Company Act.
The Federal Reserve Board is responsible for supervising the financial condition and activities of financial holding
companies. Similarly, any non-bank commercial company that is predominantly engaged in financial activities,
earning 85% or more of its gross revenues from financial services, may choose to become a financial holding
company. These companies are required to sell any non-financial (commercial) businesses within ten years.
Full-Service Branch: A branch of financial service institution that offers the public a wide range of services traditionally
expected of banking institutions. Services typically found in full service financial institutions include consumer credit,
mortgage financing, commercial lending, trust services, and corporate agency services, such as funds transfer and
securities registration.
Industrial Bank: A limited service banking institution that raises funds by selling certificates called “investment shares” and
by accepting deposits. These institutions are called Morris Plan banks or industrial loan companies. Industrial
banks are distinguished from commercial loan companies because industrial banks accept deposits in addition to
making consumer loans. Industrial banks differ from commercial banks because they do not offer demand deposit
(checking) accounts. Industrial banks are not regulated by the Federal Reserve.
Interactive Teller Machine (ITM): A machine that uses real-time video for customers to interact with live tellers working
from remote call centers.
In-Store Branch: Branches of financial institutions located in retail space such as a grocery store, shopping malls or
discount store. They may be full-service branches or limited-service branches. They generally do not include a
drive-through teller windows or safe deposit boxes. These branches may have limited staff and typically include
technology as a means to deliver banking services.
Investment Bank/Company: An investment bank or investment company acts as underwriter or agent that serves as
intermediary between issuer of securities and the investing public.
Limited-Service Branch: Any branch of a financial institution that is located separately from the bank’s main location.
At these locations, financial institutions may take customer deposits, but the financial institution cannot make
loans or offer trust services there. Limited service financial institutions only exist in unit banking states. A financial
institution that is limited in its own charter regarding the products and services that it can offer. This type of financial
institution generally specializes in only one or two products.
Loan Production Office (LPO): An office of a financial institution that accepts applications for loans and arranges for
business financing, but does not take deposits. LPOs are responsible for growing loan business for the financial institution.
Low-Income Designated Credit Union (LIDCU): LID (low-income designated) is a classification for credit unions that
meet certain membership criteria entitling these credit unions to legislated benefits. A federal credit union qualifies
for LID when a majority of its membership qualifies as low-income members. Low-income members are defined
as having a family income 80% or less than the median family income for the metropolitan area where they live or
national metropolitan area, whichever is greater.
Member Bank: A bank that is a member of the Federal Reserve System, including all nationally chartered banks and
any state-chartered or Mutual Savings Banks that apply for membership and are accepted.
Mutual Savings Bank: A banking institution that accepts deposits primarily from individuals and places a large portion
of its funds into mortgage loans.
National Bank: A commercial bank whose charter is approved by the OCC rather than by a State Banking Department.
National Banks are required to be members of the Federal Reserve System and belong to the FDIC.
Non-Member Bank: This subset includes all Commercial Banks that are state-chartered and are NOT members of the FRS.
16 Oregon Cascades West Council of Governments
Non-Depository Trust Company: Accepts and executes trusts, but does not issue currency. Non-Depository Trust
Companies can either be Federal Reserve Members or Federal Reserve Non-members.
Primary Federal Regulators:
Farm Credit Administration (FCA): FCA regulates and examines the banks, associations, and related entities
of the Farm Credit System (FCS), including the Federal Agricultural Mortgage Corporation (Farmer Mac). The
FCS provides credit and other services to agricultural producers and farmer-owned cooperatives. www.fca.gov
Federal Deposit Insurance Corporation (FDIC): The FDIC maintains stability and public confidence in the
nation’s financial system by insuring deposits, examining and supervising financial institutions, making large
and complex financial institutions resolvable, and managing receiverships. www.fdic.gov
Federal Housing Finance Agency (FHFA): The FHFA is responsible for the oversight of vital components of the
secondary mortgage markets—the housing government sponsored enterprises of Fannie Mae, Freddie Mac,
and the Federal Home Loan Bank System. The FHFA provides supervision, research, data, and policies to the
mortgage markets. www.fhfa.gov
Federal Reserve System (FRS): The FRS is the central bank of the U.S. The FRS is responsible for conducting the
nation’s monetary policy, supervising and regulating banks and other important financial institutions, maintaining
the stability of the financial system, providing certain financial services to the U.S. government, U.S. financial
institutions, and foreign official institutions, and plays a major role operating and overseeing the nation’s
payment systems. www.federalreserve.gov
National Credit Union Administration (NCUA): The NCUA regulates, charters, and supervises federal credit
unions, and operates and manages the National Credit Union Share Insurance Fund (NCUSIF). www.ncua.gov
Office of the Comptroller of the Currency (OCC): The OCC charters, regulates, and supervises all national
banks and federal savings associations as well as federal branches and agencies of foreign banks. The OCC
is an independent bureau of the U.S. Department of the Treasury. www.occ.treas.gov
Rural Banking: An informal description of the activities of community banks in rural areas. Rural banking outside
the U.S. refers to banking services in communities that are beyond the reach of formal banking systems.
Internationally, rural banking is part of development efforts that serve the poor.
Savings and Loan Association: A financial institution that accepts deposits mostly from individuals and channels its
funds primarily into residential mortgage loans.
Savings and Loan Holding Company: A company that directly or indirectly controls a savings association or another
savings and loan holding company. This excludes any company that is also a bank holding company.
Savings Bank: A banking institution organized to encourage thrift by paying interest dividends on savings. Savings
banks can have state and federal affiliations.
Securities Broker/Dealer: Entities primarily engaged in acting as agents (i.e., brokers) between buyers and sellers in
buying or selling securities on a commission or transaction fee basis.
Summary of Deposits: A market share report that provides branch office deposits, summarized by institution or bank
holding company, within the selected geographic market. All of the information is based on the reported location of the
branch office deposits. All information is reported by the institution and made available to the public through the FDIC.
State Member Bank: This subset includes all commercial banks that are state-chartered and members of the Federal
Reserve System. Commercial banks include all BIF-, SAIF-, and BIF/SAIF-Insured commercial banks and industrial
banks. (Please note: Effective March 31, 2006, the FDIC merged the Bank Insurance Fund (BIF) and the Savings
Association Insurance Fund (SAIF) into a new fund, the Deposit Insurance Fund (DIF). All institutions carrying BIF,
SAIF, and BIF/SAIF insurance were transitioned to DIF accordingly.)
Thrift Institution: An organization that primarily accepts savings account deposits and invests most of the proceeds in
mortgages. Savings Banks, Savings and Loan Associations, and Credit Unions are examples of Thrift Institutions.
Unbanked: Households that lack any kind of deposit account at an insured depository institution.
Underbanked: Households that hold a bank account, but also rely on AFS providers.
Unit Banking State: Operation of more than a single full service financial branch in one state is prohibited.
Oregon Cascades West Council of Governments
17
Appendix B: Map: At-Risk Communities and Banking Deserts in the CWEDD
18 Oregon Cascades West Council of Governments
Appendix C: Charts and Tables
Table Seven: Number of Bank Branches by City, CWEDD, 2005-2013
Number of Bank Branches
2005 2006 2007 2008 2009 2010 2011 2012 2013
Benton
Net
Change
22
22
23
22
23
21
21
22
21
-1
Albany
0
1
1
1
1
0
0
1
0
0
Corvallis
18
16
17
17
18
17
17
17
17
-1
Monroe
1
1
1
1
1
1
1
1
1
0
Philomath
3
4
4
3
3
3
3
3
3
0
122
124
129
131
132
134
133
129
124
2
Cottage Grove
6
6
6
6
6
6
6
6
6
0
Creswell
2
2
2
2
2
2
2
2
2
0
Eugene
68
68
72
73
74
76
75
73
70
2
Lane
Florence
7
7
7
7
7
7
8
7
7
0
Junction City
4
4
4
4
4
4
4
4
4
0
Lowell
0
0
0
0
0
0
0
0
0
0
Mapleton
1
1
1
1
1
1
1
1
1
0
Oakridge
3
3
3
3
3
3
3
3
2
-1
Pleasant Hill
1
1
1
1
1
1
1
1
1
0
Springfield
28
30
31
32
32
32
31
30
29
1
Veneta
2
2
2
2
2
2
2
2
2
0
Westfir
0
0
0
0
0
0
0
0
0
0
27
27
27
27
27
27
27
25
25
-2
1
1
1
1
1
1
1
1
1
0
Lincoln
Depoe Bay
Lincoln City
7
7
7
7
7
7
7
7
7
0
Newport
11
11
11
11
11
11
11
10
10
-1
Siletz
1
1
1
1
1
1
1
1
1
0
Toledo
3
3
3
3
3
3
3
2
2
-1
Waldport
3
3
3
3
3
3
3
3
3
0
Yachats
1
1
1
1
1
1
1
1
1
0
35
34
38
38
40
41
41
40
38
3
Albany
20
19
21
21
23
24
24
23
22
2
Brownsville
1
1
1
1
1
1
1
1
1
0
Harrisburg
2
2
2
2
2
2
2
2
2
0
Lebanon
7
7
9
9
9
9
9
9
9
2
Linn
Lyons
0
0
0
0
0
0
0
0
0
0
Mill City
0
0
0
0
0
0
0
0
0
0
Scio
1
1
1
1
1
1
1
1
0
-1
Sweet Home
4
4
4
4
4
4
4
4
4
0
206
207
217
218
222
223
222
216
208
2
CWEDD
Source: OED, 2005-2013
Oregon Cascades West Council of Governments
19
Table Eight: Urban and Rural Bank Branches by City, 2005-2013
Number of Bank Branches
2005 2006 2007 2008 2009 2010 2011 2012 2013
Urban
Net
Change
182
182
192
194
198
199
198
193
187
5
Albany
20
20
22
22
24
24
24
24
22
2
Corvallis
18
16
17
17
18
17
17
17
17
-1
Cottage Grove
6
6
6
6
6
6
6
6
6
0
Creswell
2
2
2
2
2
2
2
2
2
0
Eugene
68
68
72
73
74
76
75
73
70
2
Florence
7
7
7
7
7
7
8
7
7
0
Junction City
4
4
4
4
4
4
4
4
4
0
Lebanon
7
7
9
9
9
9
9
9
9
2
Lincoln City
7
7
7
7
7
7
7
7
7
0
Newport
11
11
11
11
11
11
11
10
10
-1
Springfield
28
30
31
32
32
32
31
30
29
1
Sweet Home
4
4
4
4
4
4
4
4
4
0
24
25
25
25
24
24
24
23
21
-3
Brownsville
1
1
1
1
1
1
1
1
1
0
Depoe Bay
1
1
1
1
1
1
1
1
1
0
Harrisburg
2
2
2
2
2
2
2
2
2
0
Lowell
0
0
0
0
0
0
0
0
0
0
Lyons
0
0
0
0
0
0
0
0
0
0
Mapleton
1
1
1
1
1
1
1
1
1
0
Mill City
0
0
0
0
0
0
0
0
0
0
Monroe
1
1
1
1
1
1
1
1
1
0
Oakridge
3
3
3
3
3
3
3
3
2
-1
Philomath
3
4
4
4
3
3
3
3
3
0
Pleasant Hill
1
1
1
1
1
1
1
1
1
0
Rural
Scio
1
1
1
1
1
1
1
1
0
-1
Siletz
1
1
1
1
1
1
1
1
1
0
Toledo
3
3
3
3
3
3
3
2
2
-1
Veneta
2
2
2
2
2
2
2
2
2
0
Waldport
3
3
3
3
3
3
3
3
3
0
Westfir
0
0
0
0
0
0
0
0
0
0
Yachats
1
1
1
1
1
1
1
1
1
0
206
207
217
219
222
223
222
216
208
2
CWEDD Total
Source: OED, 2005-2013
20 Oregon Cascades West Council of Governments
Table Nine: Number of Branches Per Institution, 2005-2013
Number of Bank Branches
Banking Institution
2005
2006 2007 2008 2009 2010
2011 2012 2013
Addison Avenue Federal Credit Union
1
1
1
1
1
0
0
0
0
Bank of America
8
8
8
8
9
8
8
8
8
Bank of Oregon
0
0
0
0
2
2
2
1
0
Bank of the West
6
6
6
6
6
5
5
5
5
Benton County Schools Credit Union
1
1
1
1
1
1
1
1
1
Bi-Mart Federal Credit Union
1
1
1
1
1
1
1
1
1
Central Willamette Credit Union
1
4
4
4
4
4
4
4
4
Century Bank
1
1
1
1
1
1
1
1
1
CH2M Hill Federal Credit Union
1
1
0
0
0
0
0
0
0
Citizens Bank
0
0
1
1
1
9
9
9
9
Citizens Banks of Corvallis
8
8
8
8
8
0
0
0
0
Columbia State Bank
0
0
0
0
0
0
0
0
6
EWEB Employees Federal Credit Union
1
1
1
1
1
1
1
1
1
First Technology Credit Union
4
4
3
4
4
4
5
5
5
Food Industries Credit Union
1
1
1
1
1
1
1
1
1
G.P. Toledo Employees Federal Credit Union
1
0
0
0
0
0
0
0
0
Home Federal Bank
0
0
0
0
0
6
6
5
5
JPMorgan Chase
0
0
1
1
16
16
15
15
15
Key Bank
15
16
15
15
15
15
15
15
15
LANECO Federal Credit Union
1
1
1
1
1
1
1
1
1
Libertybank
5
5
6
6
6
0
0
0
0
Linn-Co Federal Credit Union
3
3
3
3
3
3
3
3
3
Mckenzie Valley Federal
1
1
1
1
1
1
1
1
1
Northwest Community Credit Union
5
5
5
5
5
5
5
5
5
Oregon State University Federal Credit Union
6
7
7
7
7
7
7
7
7
Onpoint Community Credit Union
0
1
1
1
1
1
1
1
1
Oregon Coast Bank
1
1
1
1
1
1
1
1
1
Oregon Community Credit Union
8
8
8
9
9
9
9
9
8
Oregon First Community Credit Union
1
1
1
1
1
1
1
2
2
Oregon Pacific
2
2
2
2
2
2
3
3
3
Oregonians Credit Union
0
0
1
1
1
1
1
1
1
Our Federal Credit Union
1
1
1
1
1
1
1
1
1
Pacific Cascade Federal Credit Union
3
3
3
3
4
4
4
4
4
Pacific Continental
7
7
7
7
7
7
7
7
7
Pacific Spruce Federal Credit Union
0
1
1
1
1
1
1
1
1
Red Canoe Credit Union
0
0
0
0
0
1
1
1
1
Register Guard Federal Credit Union
1
1
1
1
1
1
1
1
1
SELCO Community Credit Union
6
7
8
9
9
8
8
7
6
Siuslaw Valley Bank
9
9
9
9
9
9
9
9
9
Southern Oregon Federal Credit Union
1
1
1
1
1
1
1
0
0
Sterling Savings Bank
7
7
7
7
7
8
8
9
6
Summit Bank
1
1
1
1
1
1
1
1
1
Oregon Cascades West Council of Governments
21
TLC Federal Credit Union
2
2
2
2
2
2
2
2
2
Umpqua Bank
14
14
14
14
14
14
14
15
15
US Bank
22
22
22
23
23
24
24
24
24
Washington Federal Savings
8
8
8
8
8
8
8
8
8
Washington Mutual
18
18
17
17
0
0
0
0
0
Wells Fargo
16
16
17
17
17
17
17
17
16
West Coast Bank
7
7
8
8
8
8
8
7
0
Weyehaeuser Employees Credit Union
1
1
1
1
1
0
0
0
0
Willamette Community Bank
1
1
1
1
1
1
1
1
1
0
0
0
0
1
1
1
1
1
Willamette Valley Bank
Source: OED, 2005-2013
Chart Nine: Branch Type by City, 2005
Source: OED, 2005-2013
Chart Ten: Branch Type by City, 2013
Source: OED, 2005-2013
22 Oregon Cascades West Council of Governments
Appendix D: Acronym List
AFS
ATM
BIF
CWEDD
DIF
Farmer Mac
FCA
FCS
FDIC
FHFA
FRS
GIS
IBT
ITM
LID
LIDCU
LPO
NAICS
NCUA
NCUSIF
OCC
OCWCOG
OED
OSU
PRC
PSU
SAIF SBDC
USPS
VMT
Alternative Financial Services
Automated Teller Machines
Bank Insurance Fund
Cascades West Economic Development District
Deposit Insurance Fund
Federal Agricultural Mortgage Corporation
Farm Credit Administration
Farm Credit System
Federal Deposit Insurance Corporation
Federal Housing Finance Agency
Federal Reserve System
Geographic Information Systems
Interactive Bank Tellers
Interactive Teller Machine
Low-Income Designated
Low-Income Designated Credit Union
Loan Production Office
North American Industry Classification System
National Credit Union Association
National Credit Union Share Insurance Fund
Office of the Comptroller of the Currency
Oregon Cascades West Council of Governments
Oregon Employment Department
Oregon State University
Population Research Center
Portland State University
Savings Association Insurance Fund
Small Business Development Center
U.S. Postal Service
Vehicle Miles Traveled
Contact
Phil Warnock
Community and Economic Development Director
Oregon Cascades West Council of Governments
1400 Queen Avenue SE, Suite 201
Albany, OR 97322
[email protected]
www.OCWCOG.org/CWEDD
541-924-8474
Oregon Cascades West Council of Governments
23