Draft:Maps Credit Union: Difference between revisions
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[[File:Maps Chemeketa Branch.jpg|thumb|Maps Credit Union Chemeketa Branch]] |
[[File:Maps Chemeketa Branch.jpg|thumb|Maps Credit Union Chemeketa Branch]] |
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Maps Credit Union, based in [[Salem, Oregon]], began as the Salem Public School Teachers Credit Union. It was founded in 1935<ref name=":0">Our History. Maps Credit Union. [https://www.mapscu.com/why-maps/about-us/our-history/ mapscu.com]</ref> but it's first full year of charter was 1936<ref>{{Cite web |title=Credit Union Locator & Research a Credit Union {{!}} NCUA |url=https://mapping.ncua.gov/CreditUnionDetails/64166 |access-date=2025-03-19 |website=mapping.ncua.gov}}</ref>. It initially served Salem area educators and school employees but in 2008, the credit union expanded its charter to include all Willamette Valley residents. It currently has 10 locations throughout the region<ref name=":1">{{Cite news |last=May |first=Caitlyn |date=July 14, 2022 |title=Maps adds new branch, professional center |url=https://www.salemreporter.com/2022/07/14/maps-adds-new-branch-professional-center/ |work=Salem Reporter}}</ref>. |
Maps Credit Union, based in [[Salem, Oregon]], began as the Salem Public School Teachers Credit Union. It was founded in 1935<ref name=":0">Our History. Maps Credit Union. [https://www.mapscu.com/why-maps/about-us/our-history/ mapscu.com]</ref> but it's first full year of charter was 1936<ref>{{Cite web |title=Credit Union Locator & Research a Credit Union {{!}} NCUA |url=https://mapping.ncua.gov/CreditUnionDetails/64166 |access-date=2025-03-19 |website=mapping.ncua.gov}}</ref>. It initially served Salem area educators and school employees but in 2008, the credit union expanded its charter to include all Willamette Valley residents. It currently has 10 locations throughout the region<ref name=":1">{{Cite news |last=May |first=Caitlyn |date=July 14, 2022 |title=Maps adds new branch, professional center |url=https://www.salemreporter.com/2022/07/14/maps-adds-new-branch-professional-center/ |work=Salem Reporter}}</ref>. |
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Maps Credit Union, based in Salem, Oregon, began as the Salem Public School Teachers Credit Union. It was founded in 1935[1] but it's first full year of charter was 1936[2]. It initially served Salem area educators and school employees but in 2008, the credit union expanded its charter to include all Willamette Valley residents. It currently has 10 locations throughout the region[3].
History
On June 6, 1935, 20 teachers from the Salem School District and Willamette University signed a certificate and agreed to volunteer their time to start a credit union. The first annual meeting was held on December 4, 1935, and the initial share cost was $5. The first treasurer for the fledgling credit union was the principal of then Salem Senior High School, Harry Johnson. Johnson and his secretary managed the credit union operations out of the high school office and kept the credit union funds in a desk drawer. In 1955, Johnson retired and moved the credit union operations to his home kitchen, which was located on South 12th Street in Salem, Oregon.
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The first official branch opened in 1958 at 1715 State Street in Salem, Oregon but was moved in 1961 to 870 Commercial Street. The Hines Street branch, which is still open today, broke ground in December 1977 at 1900 Hines Street SE[1].
In 2014, Maps became the first financial institution in Oregon to allow cannabis business accounts[4][5][6][7]. Maps' Chief Operations Officer, Rachel Pross testified to congress[8] in favor of the SAFE Banking Act on behalf of the Credit Union National Association and referenced the credit union's experience with cannabis banking as an example[9].
Name Changes
The original name for Maps Credit Union was Salem Public School Teachers Credit Union. In 1956, the same year that Western Oregon University students and faculty became eligible for membership, the financial institution was renamed Marion-Polk Teachers Credit Union. Then, in 1976, the credit union board held a "Name Your Credit Union" contest and decided to adopt the name Marion & Polk Schools Credit Union[1]. In 2011, the credit union adopted its longtime nickname "Maps" as its official name and rolled out a new logo. The new dot-shaped logo, which replaced the former schoolhouse logo, was meant to resemble the destination dots commonly seen on maps.
The Maps Community Foundation
In 2011, Maps Credit Union established the Maps Community Foundation, a charitable foundation dedicated to supporting education and encouraging economic empowerment in the Mid-Willamette Valley[10]. The foundation is funded largely through the credit union's Free Community Checking program, which accounted for $130,000 in community donations in 2021[11].
In 2022, Maps Credit Union opened a coffeeshop inside its High Street Branch in downtown Salem, Oregon[3]. The coffeeshop, which is known as The Dot, is intended to raise funds for the Maps Community Foundation[12].
References
- ^ a b c Our History. Maps Credit Union. mapscu.com
- ^ "Credit Union Locator & Research a Credit Union | NCUA". mapping.ncua.gov. Retrieved 2025-03-19.
- ^ a b May, Caitlyn (July 14, 2022). "Maps adds new branch, professional center". Salem Reporter.
- ^ Friedman, Gordon (December 23, 2025). "The Best Kept Banking Secret in the Marijuana Industry". Statesman Journal.
- ^ Foden-Vencil, Kristian (February 17, 2017). "Small Oregon Credit Union Offers Banking to Marijuana Businesses". Oregon Public Broadcasting.
- ^ Mapes, Jeff (October 23, 2019). "Inside the 'Wild, Wild West' Of Oregon Cannabis Businesses As They Seek Banking Services". Oregon Public Broadcasting.
- ^ Daigle, Suzanne K. (2020-07-01). "Legal Impediments to Banking Services for Recreational Cannabusinesses: Comparing Oregon to Canada". Oregon Review of International Law. 21. ISSN 1543-9860.
- ^ Pross, Rachel (February 13, 2019). "Statement before the U.S. House of Representatives Committee on Financial Services" (PDF). 116th Congress.
{{cite web}}: CS1 maint: year (link) - ^ Senate hearing on cannabis industry and banking challenges – 07/23/2019. Retrieved 2025-03-19 – via www.youtube.com.
- ^ KIma, Brittany (October 16, 2023). "Western Oregon University Announces Recipients of Alumni Excellence Award".
- ^ "Maps members on track to give back more than $130,000 to the community in 2022". Salem Business Journal. December 16, 2022.
- ^ "Maps Credit Union Opens New High Street Branch". Maps Credit Union. 2022-06-30. Retrieved 2025-03-19.
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