Community banks are an integral part of healthy communities and local economies
SALEM, Ore.–(BUSINESS WIRE)–Governor Kate Brown has officially proclaimed October 21-25, 2019 as Community Bank Week in Oregon. The Governor bestowed this proclamation in support of the essential role Oregon’s community banks play in supporting local economies.
Members of Community Banks of Oregon (CBO), which represents the 16 banks headquartered in Oregon, will be celebrating Community Bank Week by holding open houses, volunteering at local nonprofits, hosting free shred events, speaking to community groups, delivering financial education, hosting local officials and more. These and other efforts are aimed at showcasing the positive impact community banks have on the communities they serve.
In her proclamation, Governor Brown states, “Community banks are an integral part of Oregon’s overall economy through their community giving, dedication as good neighbors, and above all, their critical role in providing reliable financial services to Oregonians.” She adds, “Community banks play a significant role in local economic development efforts, stimulating the economy to produce jobs and create new opportunities.”
Oregon’s community banks are a major source of credit for small businesses. In a survey conducted by the Oregon Bankers Association, community banks, including those headquartered in neighboring states but doing business in Oregon, reported loans to Oregon small businesses topping $5.9 billion in a single year. Community banks are also the chief source of bank credit for agriculture enterprises.
Beyond financial services, community banks in Oregon are profound supporters of their communities through charitable giving and volunteer time. The survey found that Oregon’s community banks contributed $4.9 million to local nonprofits and community organizations, and their employees logged over 64,000 volunteer hours.
“Community banks are a unique and important part of America’s banking industry. They are often owned by the very people they serve, and local decision-making means they can be consultative and customized in how they serve their customers,” said Linda Navarro, president and CEO of CBO. “Community banks thrive when their customers and communities do the same.”
About the Community Banks of Oregon
Community Banks of Oregon (CBO) serves banks headquartered in Oregon. The principle mission of CBO is to support and promote community banking in Oregon. CBO advocates for community banks, provides a forum to address issues unique to community banks, and promotes community banks through initiatives like Oregon Community Bank Week.