About Us

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.

What is a credit union?

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.

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