Tag: Riverview Bank

Business Relocating, Community

Unitus Moving Mall 205 Branch

Unitus Community Credit Union will permanently close its Mall 205 branch on November 16th, relocating operations to a new Cascade Station storefront the following week. Credit Union management expedited the planned move after an early October car crash damaged the building, compromising security. Consequentially, tellers are no longer able to complete cash transactions at the Mall 205 location.

Unitus moved into its current Mall 205 space at 1052 SE 96th Avenue on July 25th, 2011, relocating from its former Mall 205 location less than a mile away. The credit union had outgrown the smaller space and wanted to modernize the branch. In a 2011 press release, the financial institution presented the new storefront as “one of Unitus’ signature branches with artwork, a tech center, coffee kiosk, contemporary furnishings and décor.” A little over a decade later, Unitus’ Chief Retail Officer Corlinda Wooden explained they need less space to support members. “We felt that the space at Mall 205 had become too big for the use we need, so we looked for another location nearby to help reduce our lease expenses. We decided to relocate the branch to the Cascade Station shopping center, which is about five miles from the Mall 205 location.”

Repair to the southeast corner of the of Unitus after car crash

Unitus Community Credit Union’s decision to shrink its footprint follows many organizations that have reduced leased space post-pandemic. Even before health concerns forced companies to embrace work-from-home operations, the banking industry was adjusting to the mobile-first preference of users who now complete most banking services via smartphone. 

Unitus’ move out of the area further reduces banking options for Montavilla residents. US Bank closed its NE Glisan Street branch three years ago, and Riverview Bank consolidated operations out of the neighborhood in 2021. In late 2020, Chase Bank closed its location inside Fred Meyer at 6615 NE Glisan Street. However, OnPoint Credit Union opened in its place a few months later. Montavilla residents also have BMO Bank, formerly Bank of the West, at 8135 SE Division Street.

Unitus Community Credit Union plans to open its Cascade Station branch on November 20th. The Mall 205 location no longer supports cash transactions. However, cash is available through the on-site ATM. Credit union members should look for an email from Unitus announcing the new branch opening sometime in November or check the institution’s website for more details when they post that information.

Article and photos by

Jacob Loeb

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New Business, Property Sale

Bank Building Sold to Urgent Care Provider

Nguyen Professional Center LLC recently purchased the former Riverview Bank building at 9415 SE Stark Street. The company’s owner, Dr. Hoang Nguyen, is the founder of Columbia Medical Clinic, with five urgent care locations in the Portland Metro area. The clinic’s Mall 205 facility is less than 900 feet from the Stark Street building.

Nguyen Professional Center LLC holds other properties, most notably the Columbia Medical Clinic headquarters building at 8122 SE Tibbetts Street. Both properties are similar in size at over 10,000 square feet and feature comparable construction. The Tibbetts Street building offers urgent care and walk-in medical services on the ground floor with medical offices above. The Columbia Medical Clinic constructed its headquarters building in 2010, opening to the public in October of that year. It was an ambitious addition for the clinic, with its founding just four years prior. The former bank building’s purchase could be another growth move for the medical provider, as they potentially take another prominent position within a property they control.

If the former Riverview Bank building is used similarly to Dr. Nguyen’s other property, Columbia Medical Clinic could relocate from Mall 205 to this building’s first-floor, offering urgent care assistance. The upper floors could then become leasable office space for medical service providers. That move would bring traditional medical care back into the neighborhood and reactivate the 9400 block of Stark Street.

Columbia Medical Clinic may not become a tenant in 9415 SE Stark Street. They did not respond to inquires regarding the Stark Street property. No new permits have been issued for this address since its sale, making any changes at the site unlikely before Spring next year. However, the future use of this building should become more apparent in the first few months of 2022 as work permit applications and office space real estate listings become available. Regardless of its future use, the building’s new ownership provides the potential to see a return of activity in the building with a year.

Update (December 9th, 2021): In an email sent last night, Dr. Hoang Nguyen M.D. explained that his group is still considering options for the ground floor of the 9415 SE Stark Street building and that a current tenant maintains a lease on the second and third floors. “We are still debating what to do with the first floor of the building. The top two floors have been occupied by the State of Oregon since last year.”

Business Closing, Community

Riverview Bank Closing Branch

The Montavilla branch of Riverview Community Bank will close permanently on May 20th. Having commissioned the building in 2003, Riverview owns the property and has not announced plans to sell the location. This closure is the third bank to leave Montavilla within a year. Both US Bank and Chase Bank closed their Glisan Street branches.

The Riverview Montavilla branch, located at 9415 SE Stark Street, is near the I205 off-ramp and Multi-Use path. After May 20th, the bank’s members can use the Gateway branch, located 1.6 miles away at 10401 NE Halsey Street. Only one other bank exists within Montavilla’s boundary, Bank of the West, at the corner of SE 82nd Ave and Division Street. As the banking world continues to evolve, physical locations are in decline. However, the lack of banking services within the area will likely impact small businesses that rely on teller services.