Advantis Credit Union: Comprehensive Market Research Report

Overview

Advantis Credit Union operates as a division of Rivermark Community Credit Union, serving the Portland, Oregon metro area since 1928. It is a locally owned, not-for-profit financial cooperative, boasting assets totaling $2.1 billion and a membership base of 91,120 before merging with Rivermark Community Credit Union. This merger has significantly expanded its reach, making it one of the largest credit unions in Portland, with 180,000 members and $3.4 billion in assets. The credit union is dedicated to member financial success, providing innovative financial solutions tailored to meet the needs of the community, with comprehensive digital and physical branch services.

Recent Development

In a key strategic move, Advantis completed a merger with Rivermark Community Credit Union. This merger was overwhelmingly supported by 88% of Advantis members and positions Advantis under the Rivermark name. Jason Werts, formerly CEO of Advantis, will lead the merged entity as President and CEO, emphasizing strong operational and strategic leadership.

Leadership and Strategic Vision

Advantis Credit Union’s leadership includes Jason Werts as President and CEO, Keli Myers as SVP & COO, Greg Spear as SVP & CFO, and Tim Clouse as SVP & Chief Innovation Officer. Kari Briggs and Mark Hulsey play vital roles in operations and technology, respectively. The strategic vision focuses on fostering an inclusive, member-centric culture, with an emphasis on Diversity, Equity, and Inclusion (DEI) initiatives led by André Walcott, Ph.D., Assistant Vice President. Advantis aims to enhance digital banking services and adapt to the ongoing transformations spurred by its merger.

Financial Performance

Advantis is recognized for its solid financial management, noting a loan growth of 15.7%, deposit growth of 10%, and member growth of 7.9% in 2021. These metrics underscore a mission-oriented approach to providing favorable interest rates and cost-saving benefits, resulting in $23 million in member savings in a previous fiscal year.

Contact and Services

Advantis Credit Union offers a suite of financial services, including mortgages, personal loans, checking accounts, and retirement planning. They ensure 24/7 online and mobile banking services supported by secure and user-friendly platforms. Members benefit from access to 30,000 surcharge-free ATMs, underlining Advantis’ commitment to accessibility and convenience. Advantis maintains multiple branches in Portland, offering future access to Rivermark’s 19 branches post-merger. For customer inquiries, Advantis can be contacted at 800-452-8502.

Competitor Profiling

Operating within a competitive landscape, Advantis measures itself against local and regional competitors such as:

• Golden 1 Credit Union: With assets of $18.5 billion and over 1.1 million members, Golden 1 Credit Union is one of California's largest, backed by a robust branch and service network.

• Gesa Credit Union: Based in Washington and engaged in community-oriented banking services.

• Simmons Bank: Headquartered in Pine Bluff, Arkansas, Simmons Bank holds total assets of $24.7 billion and offers extensive financial services across several states.

Strategic Initiatives

Advantis Credit Union differentiates itself through member-focused innovations, such as saving members $400,000 via reduced fees, enhancing satisfaction and retention. These initiatives reflect the credit union's strategic emphasis on delivering value and competitive positioning within the financial sector.

Key Personnel

Include notable figures within Advantis, such as Laurie Wilson as Chief Financial Officer, Wendy Edwards as SVP/Chief Administrative Officer, Mark Hulsey as VP Information Technology, and Christopher Groshko as Senior Vice-President & CXO - Chief Experience Officer.

Noteworthy Achievements

Advantis Credit Union is steadfast in its commitment to member-centric services and financial integrity, demonstrated by its longstanding presence and membership growth in Oregon. Its strategic focus on technological integration and community engagement solidifies its market position amidst the evolving competitive financial landscape.