SALEM, Ore.--(BUSINESS WIRE)--A recent survey conducted by the Oregon Bankers Association (OBA) reveals the profound economic and social impact of Oregon’s banks. From small business lending to nonprofit donations and employee volunteerism, Oregon banks fuel job creation and the growth of healthy communities. In conjunction with the survey, the OBA has released the publication Oregon’s Banks: Cornerstones of our Communities and an accompanying infographic.
Oregon banks reported making more than $21.5 million in contributions to nonprofits and community organizations annually. Employees of Oregon banks also gave back to their communities on a personal level, with over 122,500 volunteer hours donated. Those volunteer hours translate into an additional $3 million invested in public and social service organizations.
The survey data also demonstrates the important role banks play as drivers of Oregon’s economy, particularly in financing small businesses. In total, banks lent $3.3 billion to small businesses in Oregon and made over $500 million in agriculture-related loans. Small businesses rely on these loans and other services from banks to support their operations and fuel their growth. This is especially critical in Oregon given that small businesses employ over half of the state’s private workforce.
In addition to extending $26.7 billion in total credit in Oregon and safeguarding $77.7 billion in deposits in the state, banks serve Oregon’s rural and urban communities with nearly 1,000 branch locations. Oregon banks are a major employer in Oregon, providing more than 20,000 family wage jobs.
Said OBA President and CEO Linda Navarro, “Whether serving as a leading source of credit for Oregon consumers, businesses and farms, or sharing their expertise and time to make the places they live and work the best they can be, Oregon banks truly are cornerstones of our communities.”
About the Oregon Bankers Association
Established in 1905, the Oregon Bankers Association is Oregon's only full-service trade association representing FDIC-insured state and national banks and trust companies doing business in Oregon. More information is available at www.oregonbankers.com.
