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Yachats: Bank of the West leaving – First Community Credit Union seems quite interested in taking its place

First Community Credit Union staff to meet with Yachats residents January 6th at the Commons

First Community Credit Union staff to meet with Yachats residents January 6th at the Commons

Shortly after Bank of the West announced that it was pulling out of Yachats January 23rd, a number of Yachats area residents began searching for a replacement. Yachats resident Max Glenn, Mayor Ron Brean and others quickly formed a Yachats Bank Steering Committee and began their recruitment from the ranks of credit unions. Four different suitors appeared on the horizon and Glenn’s team whittled them down to one – Oregon First Community Credit Union based in Coquille, just east of Coos Bay.

First Community was founded nearly 60 years ago has grown to 30 branches throughout Oregon including Coos Bay, Florence, Hillsboro, Forest Grove, Roseburg, Klamath Falls and Bend.

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Here’s how First Community Credit Union describes themselves:

First Community Credit Union has been serving Oregonians for nearly 60 years, and with $813 million in assets and 73,000 members, today we are among the strongest credit unions in the nation. As a federally insured, not-for-profit, full-service financial institution, we’re dedicated to helping our members and our communities prosper through solutions that result in financial success, as well as personalized service that focuses on transparency, simplicity, and trust. We offer all the benefits of a big financial institution, but with personalized, cost-saving services that are in your best interest. Nearly anyone can join! With minimal membership eligibility requirements, it’s easier than ever to discover the benefits of banking with First Community.

Max Glenn, Mayor Brean and their Yachats Bank Steering Committee and the executive management of First Community Credit Union are inviting all Yachats residents to attend a special community meeting at the Yachats Commons to hear from First Community as to why they are very interested in becoming Yachats’ new financial institution. The town meeting is scheduled for January 6th, at the Yachats Commons, starting at 7pm.

At last word, Bank of the West is set to close its Yachats branch on January 23rd.  Thus far there have been no announcements as to whether First Community is interested in acquiring the old Bank of the West building.  Glenn told News Lincoln County that a number of options are being reviewed.

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