Serving the needs of people working in the insurance industry is the reason NW Preferred Federal Credit Union exists. We were established more than 75 years ago (May 9, 1940 to be exact) to serve the agents and employees of Farmers Insurance Group in Portland, Oregon. Eventually our service area grew to include all of Oregon and the State of Washington. In 2003, the National Credit Union Administration (NCUA) awarded us the nation's first Trade, Industry, Profession (TIP) charter allowing us to expand services to licensed insurance professionals and their employees in Oregon, Washington and Idaho. In 2017 the National Credit Union Administration has approved our request to serve the licensed insurance industry nationwide.
We also serve anyone who lives, works or worships in the greater North Santiam communities of Stayton, Aumsville, Sublimity, Scio, Lyons, Gates, Mill City, Detroit, Idahna and Mehama.
A credit union is a cooperative, not-for-profit financial institution designed to serve groups sharing a common bond, such as a profession or defined communities where people work or live. Credit unions are owned by the people who use its services — its members. Credit unions are managed through a volunteer board of directors and supervisory committee, not stockholders, making credit union membership truly beneficial to its members.
Typically credit unions provide its members a financial advantage, often in the form of lower loan rates and fees, and higher returns on deposits. They are also often able to provide members with unique products and services, not generally available in the marketplace.
NW Preferred is super easy to work with; they internally underwrite their own loans, which make them really fast and flexible. I definitely recommend them to others!
— Stacy Scott, Farmer’s Agent
I look at NW Preferred as being a fantastic business partner. They helped me to obtain capital to grow my business as well as a lot of my agencies. The process of working with them has been really seamless and simple.
— Mike Susee, Farmer’s District Manager
I was buying a property for my agency and was getting the run around at a local bank and buried in paperwork from a national bank specializing in agency loans. Then I met NW Preferred. They helped cut through the clutter and the purchase was done quickly. I was thankful then and now knowing we have a true partner that understands our business and is dedicated to helping us succeed.
— Brian Wilbur, Pacific Insurance Partners
It is refreshing to find a financial institution where you are dealt with on a first-name basis. A business model based on service at NW Preferred has not only led to a great partnership for many employees of our business, but has been instrumental in handling several accounts for my family.
— Marc Baker, Elliott, Powell, Baden & Baker
NW Preferred is like having a financial business partner sitting with you at the table. They listen to our needs and help determine the best way to achieve our goals. Once decisions are made, they help get the deal done in a matter of days, not weeks or months. We appreciate their commitment to our business.
— Eric Graham, Montgomery & Graham