Originally founded in 1932 as Portland Teachers Credit Union, OnPoint Community Credit Union has rebranded and expanded its charter to become the largest community-owned financial institution in Oregon. With a community charter granted in 2005, and was later expanded in 2007, 2009, and 2011, the organization has grown to expand its membership eligibility to those living or working in thirteen counties in Oregon and two counties in Washington. Currently the credit union allows membership to those living or working in Benton, Clackamas, Crook, Columbia, Deschutes, Jefferson, Lane, Linn, Marion, Multnomah, Polk, Washington, and Yamhill counties in Oregon and Clark and Skamania counties in Washington. Family members of current members are also eligible for membership.

The credit union offers its customers all of the financial products that one would expect from checking/savings accounts to loans, mortgages, and credit cards.

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The Good

Variety of credit cards available
Choice of two rewards cards
Low initial APR on all credit cards
PrePaid Visa® reloadable cards
Zero liability fraud protection

Variety of Credit Cards Available

OnPoint Community Credit Union offers its customers several options to meet their needs in a credit card. These include the Visa® Reloadable Prepaid Card, Platinum Visa®, Platinum Visa® with Rewards, and the Signature Visa® with Rewards. Members of the credit union have several options to best meet their individual preferences and financial situation.

Choice of Two Rewards Cards

Members wanting rewards for their purchases can select either the Platinum Visa® with Rewards or the Signature Visa® with Rewards cards. These cards reward members with points for purchases, with the latter earning points at a quicker rate than the former. This card, unlike the Platinum Visa® with Rewards card, includes an annual fee of $50 that is waived for the first year.

Low Initial APR on All Credit Cards

Among initial interest rates offered by OnPoint Community Credit Union's competitors, other credit unions, the institution offers some of the lowest initial APRs in the country. Annual interest rates are variable and dependent on the cardholder's past credit history and their responsible management of the card. The starting APR for credit cards offered by OnPoint Community Credit Union ranges from 6.15 to 17.15 percent.

PrePaid Visa® Reloadable Cards

For those wanting to manage their finances without incurring debt with a traditional credit card have the option of prepaying up to $3000 and receiving an OnPoint Community Credit Union Visa® Reloadable Prepaid Card. Reloading is free and the amount reloaded on the card must be in an increment of $500.

Zero Liability Fraud Protection

Many comparable institutions are not considerably transparent about security and fraud protection for their members. OnPoint Community Credit Union is highly transparent with its zero-liability fraud protection. Members are fully protected by this policy should their card be compromised. It is important to note that the lack of transparency by other organizations is not to suggest that cardholders with other institutions are not protected, rather to illustrate OnPoint Community Credit Union's practice of being more transparent than other financial institutions.

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The Bad

No cash back rewards credit cards available
Limited geographic membership eligibility
No limited credit monitoring/FICO® score

No Cash Back Rewards Credit Cards Available

In spite of offering rewards cards, members do not have an option of a cash-back reward for their credit card. Most credit unions offer members a card that includes cash back rewards. This void is not the case with most credit unions that usually offer a points for purchase card in addition to a cash back card.

Limited Geographic Membership Eligibility

As is the case with credit unions, there is a limited geographic area that the financial cooperative serves. For many, this is not a significant problem, however as one moves or faces transfer with a job, etc., the convenience of having a larger bank that has locations in several states. OnPoint Community Credit Union does not disclose if its members can maintain their accounts should they move outside of the organization's service area or not.

No Limited Credit Monitoring/FICO® Score

Many large institutions offer credit scores or limited credit monitoring services with their accounts. OnPoint Community Credit Union does not do so. While not a factor for most in choosing a bank, there are some that would like this added perk with their accounts.

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The Bottom Line

Those living or working in northwestern Oregon or southwestern Washington can consider OnPoint Community Credit Union as a viable option for their financial services. The organization is more transparent than many of its primary competitors, other credit unions, and offers some of the lowest initial APRs for its credit cards in the country. Most of its cards do not include an annual fee; however, cardholders are charged a $50 annual fee if they choose the Signature Visa® with Rewards, which is waived for the first year. OnPoint Community Credit Union is a solid choice for many in the area.

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