“Mid Oregon Credit Union Reaches 50,000 Members and Unveils Sustainable New Headquarters in Bend”
Mid Oregon Credit Union Hits 50,000 Member Milestone as It Opens New Headquarters
Mid Oregon Credit Union, the only financial institution headquartered in Central Oregon, has achieved a significant milestone by surpassing 50,000 members. This achievement represents a remarkable evolution for an institution that began in 1957 with just eight teachers in Prineville who wanted to create a financial cooperative to serve educators in the tri-county region.
The credit union recently celebrated this growth with the opening of its new headquarters in Bend’s Old Mill District. The three-story building, constructed using mass timber as a tribute to the area’s mill history, spans 16,000 square feet and cost approximately $9.5 million, marking another significant step in the credit union’s expansion journey.
From Humble Beginnings to Regional Leader
Mid Oregon Credit Union’s origins date back to 1957 when a small group of educators identified a need for financial services that weren’t being adequately provided by mainstream institutions. According to historical records, the credit union was formally established when the National Credit Union Administration signed the official certificate of organization on November 22, 1957.
What began as a single cash box in a home office has transformed into Central Oregon’s premier member-owned financial institution. Kevin Cole, President and CEO of Mid Oregon Credit Union, emphasized the significance of this journey during the recent headquarters opening, noting, “That relationship dates all the way back to 1957, when eight teachers in Prineville decided to get together and create a credit union to help serve educators in the tri-county region.”
Historical accounts indicate that Mrs. Wauge, a school teacher who left her position to start what was then called Tri County Teachers FCU, operated the credit union from her Bend home. This humble beginning laid the foundation for what would become a vital financial institution in Central Oregon.
Growth Driven by Member-Focused Strategy
Mid Oregon’s expansion to over 50,000 members reflects its successful strategy of combining modern banking tools with personalized service. “Surpassing 50,000 members is more than a number—it’s a reflection of the relationships we’ve built,” said Kevin Cole. “At the heart of everything we do is a commitment to simplicity, helpfulness and relationships built on trust.”
The credit union attributes its growth to several factors, including innovative product offerings like Simply Free Checking and flexible certificate options, enhanced business services, accessible financial education programs, and strong community involvement. Word-of-mouth referrals from loyal members have also played a crucial role in driving new membership.
This member-centric approach has earned Mid Oregon significant recognition, including being named a top workplace in Oregon for three consecutive years and recognized as the #1 credit union in Oregon by Forbes for the second consecutive year.
New Headquarters Reflects Growth and Local Commitment
The new headquarters in Bend’s Old Mill District represents both Mid Oregon’s growth and its commitment to maintaining local roots. The ribbon-cutting ceremony on April 29, 2025, hosted by the Bend Chamber, marked the opening of the credit union’s eighth full-service branch.
The building’s design pays homage to Central Oregon’s timber heritage, utilizing mass timber construction rather than steel. Notably, the site was once the location of the mill’s tool shed, creating a meaningful connection between the region’s industrial past and its financial future.
The facility includes all the features present at other Mid Oregon locations on the first floor, including drive-thru ATM and teller services. The upper floors house offices for lenders and the wealth management department, providing expanded capabilities to serve the growing membership.
Community-Focused Institution
With over 160 local employees, Mid Oregon Credit Union remains deeply connected to the communities it serves. The credit union continues to operate as a not-for-profit financial service cooperative, with an all-volunteer, member-elected board of directors overseeing operations.
This structure embodies the credit union philosophy of “People Helping People,” which has been central to Mid Oregon’s approach since its founding. As Cole emphasized, “We are Central Oregon’s credit union. We are the only financial institution headquartered in this area, and we take that responsibility very seriously.”
The credit union’s commitment to local concerns is evident in its community involvement initiatives and its focus on addressing the specific financial needs of Central Oregon residents and businesses.
Looking Ahead: Continuing the Legacy
As Mid Oregon Credit Union celebrates this milestone, it faces the challenge of maintaining its community-focused approach while continuing to grow and adapt to changing financial technologies and member expectations.
The new headquarters provides capacity for future expansion, with the credit union now positioned to serve a growing Central Oregon population. Industry analysts note that mid-sized credit unions like Mid Oregon face competitive pressure from both larger financial institutions and emerging fintech companies, making their local connections and community understanding increasingly valuable differentiators.
For credit union executives watching Mid Oregon’s growth trajectory, the institution offers a compelling case study in balancing expansion with community roots. The credit union’s success demonstrates that growth need not come at the expense of member relationships or local identity.
As Mid Oregon enters this new chapter with 50,000 members and a new headquarters, it continues to build on the vision established by those eight teachers in 1957—creating a financial institution that truly serves the specific needs of its community while providing an alternative to mainstream banking options.