Our focus on lifelong learning is a result of our proud history as an educators’ credit union, dating back to our start in 1935. While the tools we use to provide lifelong learning have changed throughout our over 75 years in business, the spirit of our commitment has not. Today, we offer frequent educational seminars for members, work one-on-one with members to develop custom solutions and create plans for reaching goals, and publish educational newsletters.
The Credit Union Philosophy
Maps Credit Union also believes in the principles of the worldwide credit union movement. As a local financial cooperative, we do things differently than other financial institutions. Our mission, Every Member Benefits, is something we take very seriously. As we operate our business, we measure every decision on this mission. It calls us to focus on giving back to members through affordable loan rates, competitive savings rates, and products and services designed to meet the unique needs of the membership. It is also what inspires us to be actively involved in the communities we serve through volunteerism, charitable giving, sponsorships and more.
A Strong Beginning
In 1934, in the middle of the Great Depression, the Federal Credit Union Act became law under President Franklin D. Roosevelt. This new law created extraordinary possibilities for people with common bonds to pool their relatively scarce resources for their greater good. Self-determined financing through purchases of shares in a credit union was fresh mortar for building a higher quality of life around the hardships of the Depression.
One year after the Federal Credit Union Act was on the books, an organizational meeting was held June 6, 1935 in Salem Senior High School. Twenty teachers signed the certificate and volunteered their time and talents to start Salem Public School Teachers Credit Union, benefiting all employees of Marion County Public Schools and Willamette University.
1935 - 1945
Following the passage of the Federal Credit Union Act, Salem Public School Teachers Credit Union was founded November 18, 1935, and the first annual meeting was held December 4 that same year. Each of the 17 members present paid $5 for one share in the credit union, a minimum share deposit requirement that is still in place today.
Board meetings were held in classrooms at Salem Senior High School, but day-to-day business took place almost exclusively by phone or letter, from living rooms and kitchen tables, involving credit union volunteers from all over Marion County. The entire effort was coordinated as a self-help, volunteer mission.
1945 - 1955
Credit Union Treasurer Harry Johnson, then principal of Salem Senior High School, and his secretary managed credit union operations out of the school office, under the direction of the Board of Directors, the Credit Committee, and Oregon bank administrators. In 1954, Polk County school employees were approved for eligibility.
When Harry Johnson retired as principal, the credit union moved into his home kitchen at 2810 South 12th Street for the next three years.
By 1955, the Credit Union’s membership had grown to 259 and assets reached $141,363.
1956 - 1965
The name Marion-Polk Teachers Credit Union was approved by the Board January 18, 1956, the same year Oregon College of Education became eligible for membership.
In 1958, the credit union moved to 1715 State Street, where it enjoyed all the necessary bells and whistles of an official business location, including office equipment, janitorial service, and its first electronic adding machine. Harry and his only employee, Laverne Bickel, required even more space by 1961, so the credit union signed a five-year lease for space at 870 Commercial Street.
By October 1962, the credit union reached a $1 million asset mark.
1966 - 1975
The early 70s brought additional employees and computers to the credit union. Growth was evident in all areas, including reaching the $9 million asset mark in 1975.
1976 - 1985
Over the next few decades, a number of new groups petitioned for eligibility to join the credit union. With rapidly expanding membership, Marion-Polk Teachers Credit Union moved several times. By 1976, membership reached 6,166 and the Board approved a third name change in July 1976 through a “Name Your Credit Union” contest. Marion & Polk Schools Credit Union more precisely described the growing field of membership. In 1977 alone, 1000 members joined and office space again became inadequate.
The Board of Directors began plans to construct a new building at 1900 Hines Street SE. In December 1977, ground was broken for a new 26,000 square foot building. The branch opened in November 1978 and remains a vital part of our branch structure today.
Dan Penn was hired in June 1980 as the treasurer-secretary-manager. Credit Life and Disability insurance was offered for the first time to members and PrivateLine phone account access was installed in March 1984 with our first in-house computer system. The number of employees grew and membership doubled to 11,700 by 1985.
Maps' first ATM was installed in Building 2 of Chemeketa Community College (CCC) in 1988, initiating a long-term collaboration with the college.
- LaVerne Bickel, employee with the longest service (32 years), retired.
- In May, Maps opened its second location, the West Salem Branch, at 1134 Edgewater in West Salem.
- The phone center was established to help members with questions, new accounts, and transactions.
- By June, the opening of our Chemeketa Branch, at 4001 Winema Place, on the south edge of the campus solidified our business partnership with CCC.
- Maps created two new CUSOs: CU Wireless, offering cellular services and phones to members at wholesale rates, and Advanced Reporting, providing credit reporting services to financial institutions and mortgage lenders.
- One of our most significant business partnership projects ever undertaken was with North Salem High School in 1994-95 when the Viking Branch opened its doors to students and staff. What started out as a training ground for students to earn their certificate of mastery became a mini-version of our branches. The Viking Branch is an award-winning prototype of educational success, thanks to the dedication and hard work of the branch manager and students.
- PC Branch, Maps’ online banking program became available to members via modem in January. Later this year, Maps launched its first website.
- Maps reached a $100 million asset mark this year.
- In January, the Maps McNary Branch at 111 McNary Drive in Keizer opened its doors.
- The Bearcat Branch, which opened at Willamette University in August, was a welcome addition to the campus. The branch provides most services, including a walkup ATM, at its location in Putnam Center.
- Advanced Reporting added comprehensive background screening to its list of services, welcoming clients from the public and private sectors.
- In November, the South Salem Branch at 4615 Commercial St. SE opened its doors in the Cherry City Plaza, with full services including a walk-up and drive-up ATM.
- Maps and McKay High School opened the Royal Scots Branch at McKay. Based on the North Salem High model, the Royal Scots Branch provides limited service and excellent training and experience for high school students.
- Online Bill Pay was available for the first time to members.
- The Monmouth Branch opened in April of 2003, leasing space in the Willamette ESD building at 163 N. Knox St. to serve members in Polk County.
- Maps was invited to partner with the newly constructed West Salem High School to open the Titan Branch.
- Online statements were available for the first time through PC Branch in June.
- Check-imaging capabilities were added.
- Maps hired a business loan officer and introduced Maps Business Services to the membership.
- Maps purchased Scarborough Insurance in Woodburn and formed Maps Insurance Services, offering Property/Casualty Insurance to the membership.
- Upon selection as the 2005 Oregon Business Person of the Year by the Future Business Leaders of America, the Maps Board of Directors named Cori Frauendiener Maps Credit Union Outstanding Mentor of Future Business Leaders, and declared April 21, 2005 Cori Frauendiener Appreciation Day.
- In May, the Maps support departments moved to the new Maps Administration Center at 451 Division St. NE in downtown Salem. Maps was named the 2005 Salem Chamber Business of the Year.
- In September, Maps’ West Salem Branch relocated from its Edgewater address to 476 Glen Creek Rd., a newly designed and built building. This same month, Maps opened the Campus Card Office located in the Chemeketa Community College Bookstore.
- Ground-breaking for a new Woodburn Branch takes place.
- Maps opens the Woodburn Branch in August.
- Maps opens membership to all those who live in the Willamette Valley Basin.
- After nearly 30 years of service, Dan Penn retires as Maps CEO. The Maps Board of Directors dedicates the Admin Building as the Dan Penn Administration Building in his honor.
- Long-time employee Mark A. Zook is named President/ CEO of Maps Credit Union.
- Maps opened the Silverton Branch in June.
- Maps Insurance welcomed a team of experienced commercial insurance professionals to help better serve local businesses.
- Maps unveiled a new logo and tagline that better represent our ability to serve our entire community. The redesigned website debuted as part of that rollout.
- The Buy Local program launched to help support the local business community and provide added value to membership with Maps.
- Maps became the premier sponsor of Salem-Keizer Schools.
- Maps reached $400 million asset mark this year. Membership also grew to more than 40,000.
- Maps received awards for its Buy Local program, quarterly member newsletter, website design, and full suite of marketing materials.
- Maps established the Maps Community Foundation, a public charity to coordinate all charitable activities and provide asset development and financial self-sufficiency programs to the community.