During a recent meeting of the Senate Committee on Finance and Revenue, representatives from MAPS Credit Union voiced strong opposition to Senate Bill 781, highlighting concerns about its potential impact on local banking and community support. Serving around 80,000 members in the Mid Willamette Valley, MAPS emphasized its commitment to benefiting its members, employees, and the local community.

MAPS outlined its mission-driven approach, which includes providing dividends to members, a robust rewards program, and competitive rates. The credit union also prioritizes employee welfare through profit-sharing and one of the nation’s top employee loan programs, aimed at facilitating home ownership.

A significant point raised was MAPS' recent agreement to acquire Lewis and Clark Bank, which they argue is a positive move for Oregon's financial landscape. They contend that this acquisition will help maintain local banking services and support small businesses within the state. In contrast, MAPS warned that SB 781 could lead to increased mergers with larger out-of-state banks, which could jeopardize local financial institutions and diminish community investment.

The discussions at the meeting underscored the importance of local financial institutions in fostering economic stability and community development. As the committee considers the implications of SB 781, the voices of organizations like MAPS highlight the need for policies that prioritize local interests and support the ongoing growth of Oregon's communities.