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The Mission of KaiPerm Northwest Credit Union:

“Provide members with a variety of better-than-market banking services— that cost less and pay more— in order to help them Get Ahead Financially!”

The driving intention of KaiPerm Northwest Credit Union’s Directors is to accomplish this

• by offering benefits that are measurably better than those available from other sources.
• by providing state-of-the-art services that increase the ease and convenience of using KaiPerm Northwest Credit Union.
• by getting members to use the services of KaiPerm Northwest Credit Union, rather than those of other sources.
• by delivering useful information and advice on matters of personal finance.
• by encouraging members to initiate actions that work to their financial advantage.
• by helping members use credit wisely and avoid or fix problems with their credit status.
• by urging members to save on a regular, recurring basis…and to start sooner rather than later.
• by pushing members to maintain budgets, plans and behaviors that sharpen their banking routines and improve their overall financial circumstances.

In 1967, several Kaiser Permanente employees became interested in forming an employee’s credit union. After several discussions with the Oregon Credit Union League, these employees approached Kaiser’s Director of Personnel about organizing such a credit union.

It took four years, but on March 9, 1971, KaiPerm Oregon Federal Credit Union was formed with eight charter members, who each purchased a $5.00 share in the Credit Union.

In the first three months of operation, the Credit Union signed up 500 members. By September of 1973, the Credit Union had $148,000 in shares, $129,471 in loans, and one employee.

The Credit Union’s original field of membership was limited to those having the following common bond:

Employees of Kaiser Hospital and Family Health Plan and Permanente Services, Inc.; Divisions of the Kaiser Foundation Medical Care Program who work in Portland or Beaverton, Oregon or Vancouver, Washington; un-remarried spouses of members of this Credit Union; employees of this Credit Union; persons retired as pensioners and/or annuitants under private pension plans provided for the above employee groups; members of their immediate families; and organizations of such persons.

Over the years, we expanded our field of membership to include volunteers who work at the Kaiser Hospitals under the supervision of the hospital staff. We also broadened the definition of immediate family members to include grandparents, parents, husband, wife, children, grandchildren, brothers, and sisters, foster and adopted children, together with any of their spouses.

In 1985, the Credit Union’s name was changed to KaiPerm Northwest Federal Credit Union. As of December of 1996, the Credit Union had reached assets of $17,343,000. Our membership totaled over 6,000 persons.

Throughout its history, the Credit Union has been continually adding and improving services to its members. In 1983 we added Share Checking to our growing line of products, while VISA credit cards became available in 1986.

Our continuing growth in recent years made it necessary for the Board of Directors to seek a new location of an Administrative Headquarters. New offices were chosen in Clackamas, near the Kaiser Sunnyside campus. Remodeling began in October of 1988, and the facility officially opened on January 3, 1989.

In 1991, additional changes were made at the Credit Union, due in part to the economic times and the fact that we wanted to continue to provide convenient, cost-effective services to a greater number of members in various locations. This led to the closure of our branch at the recently renamed Central Interstate Medical Office in late summer of 1992.

We replaced this branch with one automated teller machine (ATM) located at Central Interstate and installed two more at KPB and Sunnyside Medical Center. The machines continue to provide service to credit union members, as well as anyone working at or visiting these facilities. Two other ATMs were installed in 1999, one at Salmon Creek and another at the Beaverton Medical facility. Two additional ATMs were placed in Lancaster Medical Center and Longview Medical Center in 2001. In 2003, a machine was also installed at Skyline Medical Center to better serve the membership.

In late 2000, the Credit Union relocated to the Kaiser Permanente Building in Portland, Oregon.

In 2001, the Credit Union again revised the field of membership to include Kaiser Foundation Health Plans, Kaiser Permanente, and domestic partners. In 2006, the Credit Union field of membership was amended to include Kaiser Permanente Insurance holders, also known as Value Association members.

Although we have grown from a small one-employee office to three full-service branches (Ambassador, KPB and Westside Hospital) with 14 employees and over $90 million in assets, we have never lost sight of our primary purpose of providing low-cost financial services to our members.

KaiPerm NW serves only one group, Kaiser Permanente. The group is comprised of health plan, dental, Northwest Permanente employees, family members, retirees and health plan members.

Governance – It’s a democratic process. Members are the owners of the credit union.

• A Board of Directors is voted by the membership. These folks are unpaid volunteers who work for you. The election process is one member and one vote.
• A Supervisory Committee is appointed by the Board. They are the “watchdogs” of the credit union and provide oversight.
• An Independent CPA audit is conducted once a year.
• An annual regulatory examination (NCUA) is completed once a year. Deposits are insured to $250,000.
• KaiPerm is a not-for-profit financial cooperative.

All decisions are driven by what’s best for our members

• A Board and management team who are prudent stewards of our member’s money.
• KaiPerm’s expenses and loan losses are some of the lowest in the credit union industry.
• A strong culture of member service. We serve you and we have to be good!

What we do

• Loan rates are well below peers.
• Deposit rates are well above peers.
• State-of-the-art electronic products.
• The credit union’s net income stays here with our member/owners.
• Our focus is to build long-lasting relationships and give back to the Kaiser Permanente community.
• Our job is to help guide and educate members in their financial journey.

A source of trusted information – KaiPerm is a “helping place”

• Creating financial wellness makes employees happy and productive.
• Financial literacy programs and workshops. We come on-site and provide helping information.
• How to; buy a car or home, debt counseling, improving credit and retirement planning.

1. Create Self-awareness. Help you develop habits and attitudes that influence your financial health.
2. Understand the fundamentals of money management.
3. Go Beyond by taking care of your physical and mental health. We give back to the KP community.

See member testimonials on our website: kaipermnw.org

The credit union serves only one group, Kaiser Permanente. This group is comprised of health plan, dental, Northwest Permanente employees and family members, retirees, and health plan members. Our mission is to grow our members’ financial health plan together.

Although the Credit Union has been self-supporting for decades, KPNW originally made a significant financial commitment. The credit union’s main office was at Central Interstate when KP’s Regional Office was located there. There has been an office at KPB since 2001. A branch office is also located at the Westside hospital and the main office is at Cascade Station near the Portland Airport.

The credit union is a “helping place” that supports Kaiser Permanente and Northwest Permanente and gives back to KPNW in many areas:

► Works with the KPNW Employee Assistance Program to provide employees with financial counseling, personal budgeting, and education for retirement.

► Maintains a program to help KPNW employees avoid Pay Day Lending and recover from frequent use of payday lenders (many KPNW employees live paycheck to paycheck).

► Offers “lunch and learn” seminars at various Kaiser Permanente facilities to improve financial literacy. Topics include; improve your credit score, Protection from Fraud, home, and auto buying education. On-site retirement seminars by SMB Financial receive high ratings.

► Continues to support KPNW liquidity as needed: an example, providing funding to purchase property in a land title dispute, made a last day lease payment to St. Vincent’s Hospital and established an emergency backup line of credit for a property purchase.

► Finances all physician recruitment loans for NWP (currently 40 loans). KaiPerm also underwrote and financed the Orchid Health Cooperative loan.

► Pays for the annual KP calendar. We distribute 15,000 calendars every year throughout the Region. The credit union also underwrites the expenses for newsletters for KaPeRs (Kaiser Permanente Retirees Association).

► Participates in various “Thrive” events such as funding the outdoor barbeque grill for West Side Hospital. Credit union employees have donated over $17,500 to Doernbecher Children’s Hospital.

► Projects include funding for a $10,000 portable eye-slit lamp that allowed our optometrists to bring vision care to underserved communities that do not have optical services. Also contributes to KaPeRs(KPNW retirees) and NxNE Community Health Center which offers health care for the un-and under-insured.

Credit union board alumni from KPNW: Janet O’Hollaren, Dr. Steve VanHee, Peter Lang, Carla Robertson, Bill Butcher, Marci Clark

Current Credit Union volunteers from NWP & Dental: Drs. Tom Stibolt, Sean Jones, Bill Borok (officer), and Holly Morgan (officer)

Annual Meeting Report – May 2022

View the PDFs of our recent balance sheets and income statements.

February 2023 – Balance Sheet | Income Statement

January 2023 – Balance Sheet | Income Statement

December 2022 – Balance Sheet | Income Statement

November 2022 – Balance Sheet | Income Statement

October 2022 – Balance Sheet| Income Statement

September 2022 – Balance Sheet| Income Statement

August 2022 – Balance Sheet| Income Statement

July 2022 – Balance Sheet| Income Statement

June 2022 – Balance Sheet| Income Statement

May 2022 – Balance Sheet| Income Statement

April 2022 – Balance Sheet| Income Statement

March 2022 – Balance Sheet | Income Statement