Praise for OR Credit Union Housing Bill

Posted by Pam Leavitt on April 3, 2025

Rogue Credit Union advocates attending the Medford Chamber of Commerce Legislative Action Team meeting with Representatives Kim Wallen and Pam Marsh Thursday, were pleased when Rep. Marsh, Chair of the House Housing and Homelessness Committee, praised Oregon credit unions for bringing forward HB3188, legislation she called an “innovative housing bill.”

Special thanks to the Rogue Credit Union champions, and to Laura Hansen, SVP of Loyalty & Employee Experience, for sharing meeting news and a photo with the GoWest team! 

Background on HB3188

The credit union-sponsored bill is designed to make housing more accessible. We are asking the state for support to create a loan loss reserve fund which will act as a first source of loss recovery at $2.5 million.  House Majority Leader Ben Bowman and House Minority Leader Christine Drazen are sponsoring the bill along with several bi-partisan members of the House.

HB3188 was passed out of Rep. Marsh’s committee last week on a unanimous vote and is now waiting for consideration by the Joint Ways and Means Committee for the funding request.  We don’t expect consideration on the bill until at least late May early June.

Homeownership is a priority for all of us in this state.  A home is the single biggest investment most people ever make. Passing a home to the next generation is an amazing gift that builds generational wealth. But saving even 5% for a down payment can be challenging. Many homebuyers juggle additional financial obligations, such as student loan or car payments, family expenses, household costs, and more. The goal of HB3188 is to create a statewide loan program to expand home financing options for families at or below 120% of the median household income level. Members of participating financial institutions would be able to achieve homeownership through this program with a 100% financed mortgage loan.

The bill received recent news coverage; learn more here.

Ways & Means Road Show

There are four more community hearings over the next month, and we encourage credit union advocates to connect in their local district with legislators on this committee and mention your support for HB3188!

• Warm Springs | Friday, April 4 (5:00pm – 7:00pm)
  Old Warm Springs Elementary School
  1112 Wasco Street, Warm Springs, OR 97761
• La Grande | Friday, April 11 (5:00pm – 7:00pm)
  Eastern Oregon University, Hoke Union Building #339
  1 University Boulevard, La Grande, OR 97850
• Salem, Statewide Virtual Testimony Prioritized | Wednesday, April 16 (5:00pm – 7:00pm)
  Oregon State Capitol Building, Hearing Room F
  900 Court St NE, Salem, OR 97301
  Klamath Falls | Friday, April 25 (5:00pm – 7:00pm)
  Klamath Community College, Building 4 Commons
  7390 South 6th Street, Klamath Falls, OR 97603

Almost Halfway!

It’s happening fast. The 2025 Oregon Legislative session has almost reached the 50-yard line: ten weeks down, thirteen to go. Last week marked the first important deadline—bills that weren’t scheduled by then for a work session (where committees vote them up or down) are dead for the session. That took about half of the 3,000+ introduced bills out of play. Plenty more will fall by the wayside on April 9, the First Chamber deadline. That’s when Senate bills that haven’t passed through a Senate committee (or House bills through a House committee) are finished. After April 9, bills in Committee (other than Ways & Means, Revenue and Rules) must be in the opposite chamber in order to be considered this session.

Posted in Advocacy on the Move, Oregon Advocacy.