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News & Updates
October 7, 2025
Leadership Transition at Forrit Credit Union
On behalf of the Board of Directors, we want to share an important update regarding a leadership transition at Forrit Credit Union. After five years of dedicated service, Justin Olson will step down as CEO/President, effective October 31, 2025. We have appointed Wendy Russell, Director of Finance, as interim CEO while we conduct a comprehensive search for a permanent successor.
We want to reassure you that this leadership change will not impact your experience with Forrit Credit Union. Our mission and focus remain firmly in place. We are committed to delivering the same level of experience you have come to expect from us. All teams remain fully aligned to ensure that your interactions with Forrit remain seamless and consistent.
Ms. Russell brings deep financial and operational expertise to this role, with over 30 years of experience in finance and more than 12 years in a leadership role. She will leverage her strong background in risk management and internal control to help guide Forrit Credit Union through this transitional phase, working closely with the leadership team to ensure a smooth transition and sustained operations.
As the Board, we remain focused on the credit union’s strategic direction and growth, and on supporting the Forrit team to serve you.
Thank you for your continued trust and support. If you have any questions or concerns, please reach out to the credit union. Our team is ready to assist you.
Sincerely,
Lorene Bay, Chairman of the Board
Forrit Credit Union
October 1, 2025
Providing Peace of Mind – Furlough Assistance Program.
With the recent government shutdown, many federal employees across the country are being affected. At Forrit Credit Union, we understand the financial stress and challenges this situation brings. As a credit union with a large group of federal employee members, we want you to know that we are here to support you during this period of uncertainty.
Please connect with us to learn more about Forrit CU’s Furlough Assistance Program, which was created to assist our members during this trying time. There are two different options to choose from depending on your needs:
Skip-A-Payment: Members can defer 1 month payment for consumer loans or home equity real estate secured loans with balances of $100,000 or less. (Not valid on home equity line of credit).*
“Just In Case” Pay Day Loan: Members can obtain a 60-day loan for up to $6,000 or 70% (rounded up to the nearest $25.00) of their gross bi-weekly pay, whichever is less at a reduced interest rate of 3.00% APR.1
Eligibility/Qualifications
- Must be a member of Forrit CU for at least 60 days and be in good standing.
- Must be officially furloughed as a result of a temporary government shutdown. (Proof of furlough is required).
- Members may take advantage of Skip-A-Payment or Just In Case Loan, not both options.
Other restrictions apply.
Your financial safety and security are always our top priority, and rest assured that your funds with Forrit CU are safe and accessible.
Thank you for the trust you place in us and thank you for being a part of Forrit CU! If you have questions, please don’t hesitate to connect with us.
* Offer restricted to government employees who have been a member of Forrit CU for at least 60 days, and have been furloughed as a result of a temporary government shutdown. Proof of furlough required. Interest will continue to accrue during the deferred period which will increase the term of your repayment period and the amount of interest you will pay over the life of the loan. Members may only take advantage of Skip-A-Payment or Just In Case Loan, not both options.
1. APR = Annual Percentage Rate. Offer restricted to government employees who have been a member of Forrit CU for at least 60 days, and have been furloughed as a result of a temporary government shutdown. Proof of furlough required. The loan will be due in full in 60 days. Existing loans must be current. Members may only take advantage of Skip-A-Payment or Just In Case Loan, not both options.
January 2025
Rockwood Branch Grand Opening
We are excited to announce the Grand Opening of our Rockwood branch in Gresham, and we want you to join the fun! To mark this milestone, we’re hosting a celebration on Friday, January 24, 2025 with free coffee, giveaways, and a chance to check out what Forrit is all about!
Event Details:
Date: Friday, January 24, 2025
Time: Ribbon-cutting ceremony starts around 8:30am, but we’re celebrating all day!
Location: 18676 E Burnside Street, Portland, OR 97233
We are proud to deepen our commitment to the Rockwood community, bringing a new era of member-focused service to one of Oregon’s most diverse and dynamic neighborhoods. This aligns with the credit union’s mission of financial empowerment, inclusivity and community impact.
“Today marks the beginning of a new chapter as we proudly open our Rockwood branch. We are excited to serve this vibrant community, fostering growth, opportunity, and financial well-being for all.” said Justin Olson, President/CEO of Forrit CU. “We’re committed to making Rockwood stronger, one member at a time.”
Members and community members are invited to join the celebration and explore the new branch, meet our team, and learn more about the enhanced service offerings.
Rockwood Branch Updates
Our ATM is up and running at our Rockwood branch for your convenience! We’re also in the final stages of construction, and while our Rockwood branch is still closed, we’re getting closer to opening our doors.
Thank you for your patience and understanding during this time. We can’t wait to welcome you in soon!
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