2022 Annual Report

We are happy to report that OCCU is a healthy and growing financial institution. Through the unprecedented changes in the market and the continuously rising interest rate environment, we have continued to thrive.

In 2022 we welcomed more than 57,000 new members and our assets grew to $3.46 billion. This growth has allowed us to continue our investments in the membership by adding branch locations and interactive video teller machines, enhancing our digital channels and introducing new products and services to meet your evolving needs.

The entire OCCU team holds strong to our vision to enrich lives and works diligently to ensure that we exceed your expectations as a financial partner. This includes paying top of market rates on deposit accounts such as Remarkable Checking and Ignite Savings and offering competitive rates on loans, all with lower and fewer fees than other financial institutions.

As we look ahead to 2023 and beyond, we are excited about the opportunity to improve your experience, bring you additional ways to interact with OCCU and provide other service enhancements.

• We are expanding our physical presence with new branch locations. In the first quarter of this year, we opened a full-service location in Redmond, OR and we will join the Roseburg, OR community this summer. We are hopeful that two additional locations in the Willamette Valley will be added by early 2024.
• We will continue to enhance our digital, phone and self-serve channels to allow you to do business with us when it is convenient for you.
• Mid-year, we will convert our debit card platform to a new processor. This change will allow us to improve and optimize your experience and bring contactless, tap-to-pay functionality and advanced fraud detection and prevention capabilities to your debit card.
• We are offering our new home and auto insurance products to provide you affordable alternatives to bring you peace of mind.
• Through the OCCU Foundation, we will expand our support and investment in the work of nonprofit organizations throughout our communities.

These are just a few of the exciting things we are working on in the year ahead. We remain committed to enhancing your OCCU experience and delivering exceptional service as we look for additional ways to enrich the lives of those around us and add even more value to your membership.

We are humbled that you have selected us as your financial partner. On behalf of the Board of Directors and our more than 600 employees, we would like to say thank you for your membership and engagement in our cooperative. It is our sincere hope that we have enriched your life in a meaningful way.

In gratitude,

Jeanine Jensen
Board Chair

Ron Neumann
President &CEO

OCCU’s Supervisory Committee is appointed by the OCCU Board of Directors from among the members of OCCU. The Committee acts as our members’ representative in ensuring that an annual overall financial audit and verification of members’ accounts is performed and that the credit union has adequate internal controls to provide for the safety of member assets. The Committee reviews all audits and reports any significant findings to the Board of Directors.
 

The annual financial audit and verification of members’ accounts for 2022 were completed by professional services firm Moss Adams with an effective date of June 30, 2022. Their formal opinion letter confirmed that the financial statements fairly represent the credit union’s financial position.
 

In addition to the verification of members’ accounts and annual financial audit, the Committee also reviews all internal audits. In 2022, these audits were performed by the firm FORVIS. The Committee is appreciative that OCCU management continues to respond promptly to mitigate any operational issues as they arise.
 

On behalf of the Supervisory Committee, I would like to thank the Board of Directors, management and staff for their work. Their efforts are greatly appreciated.

Jackie Rice

Chair