CEO Letter: Pacific NW Federal Credit Union’s Economic Impact

Jun. 27, 2019

The Northwest Credit Union Association (NWCUA) contracts with ECONorthwest to conduct an independent analysis that analyzes the gross economic impacts of credit unions in Oregon, Washington, and Idaho. The study measured the jobs, economic output, and income supported by not-for-profit, member-driven cooperative credit unions in the regional economy. The study also measured the direct benefits credit unions are uniquely positioned to return to their members.

Credit unions are owned and driven by the members who use their services. Unlike profit-driven financial institutions, which pay stockholders, credit unions return benefits back to their members in the form of better interest rates, lower fees, and other services that hard-working Americans need.

Based on survey information provided by credit unions and other data sources, ECONorthwest calculated the following gross economic impacts for Pacific NW Federal Credit Union in the calendar year of 2018:

As we are locally owned by our members and serve our eight counties, the economic benefits, both in savings for members, direct expenses for employees and operations and the indirect multiplier for economic impact, stays local.

Just another way First Digital remains your financial partner for life.

— Tom Griffith, CMA, Chief Executive Officer