Business View Magazine | August 2020

106 BUSINESS VIEW MAGAZINE AUGUST 2020 1936, we were $136,000 in assets and now we exceed $500 million and offer a full suite of products for consumers and businesses.” As a solid testament to its staying power, construction on a new, three-story First Federal headquarters building in McMinnville (a city of about 34,000) is in progress. The existing headquarters was built in 1975, and as branch administration outgrew that location, they acquired nearby properties and departments were housed in separate buildings. Today, First Federal owns an entire city block – an acre of land – in McMinnville, where they’re now building; tearing down one of the buildings onsite to make room. The new facility will have enhanced capabilities to provide remote delivery of product, including an expanded customer care call center. The long-term plan is to invest in a modern environment to attract quality employees and deliver products using the latest technology. The building should be complete in the fall of 2021. exceptional service and strives to provide the best banking experience possible. Its mission statement says it loud and clear: “We’re here, in the Yamhill Valley. Our mission is to provide superior banking products and services; to promote home ownership and business vitality in the support of our communities. Yes, we’re here…and we are staying!” Headquartered in McMinnville, where it all began, First Federal Savings & Loan Association is now the seventh largest bank in the state of Oregon and the 1,536th largest bank in the nation, with about 90 employees, in total, at eight locations. According to President & CEO, Jim Schlotfeldt, “Since we became First Federal in 1936, we’ve added five full-service branches and two limited-service branches in local retirement communities. As one of two surviving Mutual Chartered Savings & Loan Associations in Oregon, we remain committed to providing local banking options to our communities in Yamhill County and the surrounding areas. In