OnPoint Community Credit Union expands support for foster youth through Youth Villages Oregon partnership
PORTLAND, Ore. (KTVZ) — More than 4,000 children in Oregon were in foster care at the end of 2023, according to the Oregon Department of Human Services. Although the state has seen a decline in children in foster care, foster youth face significant challenges as they transition to adulthood. Without adequate support, they are at higher risk for homelessness, substance abuse, unemployment and incarceration.
To address these challenges, OnPoint Community Credit Union announced Monday it will offer OnPoint Savers® accounts to foster youth between 13 and 17 years old in Youth Villages’ transition-age programs without requiring a co-signer.
“Our partnership with Youth Villages Oregon reflects our commitment to supporting the most vulnerable members of our community,” said Rob Stuart, President and Chief Executive Officer of OnPoint Community Credit Union. “By having access to savings accounts and financial education, we are providing foster youth in Oregon a safe place to save their money and an opportunity to build a strong foundation for their future.”
A history of supporting Oregon’s youth in foster care
Since 2020, OnPoint has donated nearly $85,000 to Youth Villages Oregon, and sends employee volunteers to teach a range of financial education courses. The courses cover budgeting, credit, student debt and taxes to help foster youth develop the skills needed for financial independence.
"Financial literacy is a critical skill that can significantly impact a young person's future, especially for those transitioning out of foster care," said Andrew Grover, Executive Director at Youth Villages Oregon. "Our partnership with OnPoint enables us to provide these critical financial tools and education to help foster youth build a stable and independent future.
Youth Villages Oregon also received funding from the Marcia H. Randall Foundation and the Delbrueck Family Fund of Oregon Community Foundation, totaling $100,000 in donations for its 2024 financial literacy program. These funds will provide financial session stipends and a savings account match for Portland Metro youth enrolled in the program.
Youth Villages Oregon has been serving youth in Oregon since 2011 through LifeSet, an evidence-informed program helping foster youth learn skills to navigate adulthood. Youth Villages Oregon serves more than 750 youth and families each year across 12 counties.
Honoring OnPoint’s roots in education
OnPoint was founded in 1932 by 16 schoolteachers and continues to honor its founders’ mission to provide quality education in the region. Learn more about the credit union’s commitment to financial education in Oregon and Southwest Washington.
ABOUT ONPOINT COMMUNITY CREDIT UNION
OnPoint Community Credit Union is the largest credit union in Oregon, serving over 563,000 members and with assets of $9.2 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.
ABOUT YOUTH VILLAGES
Youth Villages is a national leader in mental and behavioral health committed to finding the most effective solutions to help children, families and young adults overcome obstacles and live successfully. Working through direct services, partnerships with innovative public agencies and advocacy, we collaborate to bring positive change to child welfare, children’s mental health and justice systems. Our 4,500 employees serve more than 43,000 children and young adults in more than 100 locations in 26 states and the District of Columbia. Youth Villages has been recognized by the Harvard Business School and U.S. News & World Report and was identified by The White House as one of the nation’s most promising results-oriented nonprofit organizations.
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Youth Villages Oregon Awarded Generous Grants totaling $100K
Financial literacy program receives funding to launch second cohort of transition-age youth
Portland, Ore., June 17, 2024 – Youth Villages Oregon, a nonprofit that that provides services for children and families experiencing difficult circumstances, received $100K in grant funding from the Marcia H. Randall Foundation, OnPoint Community Credit Union, and the Delbrueck Family Fund of Oregon Community Foundation. This money will fund Youth Villages 2024 financial literacy program.
These funds will provide financial session stipends and a savings account match for Portland Metro youth enrolled in the program. Additionally, foster youth between the ages of 13 and 17 years old in Youth Villages’ transition-age programs can establish a Youth Savers Account (OnPoint product) at any OnPoint location without a co-signing adult. This is crucial for youth aging out of foster care.
“Nearly 80 youth attended the first session of this year-learning about budgeting and saving from trained volunteers provided by OnPoint Community Credit Union,” said Youth Villages Oregon Executive Director Andrew Grover.
In 2023, Youth Villages Oregon secured a one-time grant from the state of Oregon to work with up to 140 foster youth in the inaugural financial literacy program. Youth Villages Oregon partnered with Financial Beginnings Oregon for money management curriculum, and volunteers helped deliver a four-part series of money management peer-to-peer sessions to educate foster youth on topics they selected.
This past year, 76 youth applied for and received upwards of $800 in a savings account match at the conclusion of the project, and more than 80% had maintained or increased their savings account balance from the start to the end of the project.
“Our partnership with Youth Villages Oregon reflects our commitment to supporting the most vulnerable members of our community,” said Rob Stuart, President and Chief Executive Officer of OnPoint Community Credit Union. “By having access to savings accounts and financial education, we are providing foster youth in Oregon a safe place to save their money and an opportunity to build a strong foundation for their future.”
Youth Villages has served youth in Oregon since 2011 through LifeSet, an evidence-informed program helping foster youth learn skills to navigate adulthood and as of 2019, as a partner with the State providing the Independent Living Program for transition-age youth. Currently, the organization serves more than 750 youth and families each year across 12 counties, operating out of offices in Portland, Salem and Bend.
About Youth Villages
Youth Villages is a national leader in children’s mental and behavioral health committed to building strong families, delivering effective services and significantly improving outcomes for children, families and young people involved in child welfare, mental health, and juvenile justice systems across the country. Founded in 1986, the organization’s 4,000 employees help more than 39,000 children annually in 26 states across the U.S. and the District of Columbia. Youth Villages has been recognized by the Harvard Business School and U.S. News & World Report and was identified by The White House as one of the nation’s most promising results-oriented nonprofit organizations. Learn more at www.youthvillages.org.
ABOUT ONPOINT COMMUNITY CREDIT UNION
OnPoint Community Credit Union is the largest credit union in Oregon, serving over 563,000 members and with assets of $9.2 billion. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and two Washington counties (Skamania and Clark) and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at www.onpointcu.com or 503-228-7077 or 800-527-3932.
