909 SE Bay Boulevard
PO BOX 2280
Newport, OR 97365

Oregon Coast Bank Provides Childcare Center For Its Employees

For Immediate Release

Friday, June 3, 2011

Contact: Fred Postlewait
              Oregon Coast Bank

Newport, OR – For working parents, finding good-quality, affordable, reliable daycare can often be a challenge. Recognizing the issues that their employees faced, the management team at Oregon Coast Bank decided to do something about it. Today, the Newport-based bank is the first and only bank in the state to offer its workers a childcare center, but getting to that point was a difficult process.

“We discovered that operating a daycare center is not an activity that the FDIC lists as permissible by a bank,” explained Jill Meengs, Vice President and Manager of Oregon Coast Bank’s Newport office. “Everyone seemed to agree that providing a childcare center was a positive thing for our employees and the community, but we had to go all the way to Washington, DC to get clearance.” After months of debate, the solution was that the bank could provide the daycare facility and subsidize costs for its employees, as long as the center was operated by an independent provider. Oregon Coast Bank soon contracted with Debbie Provancher, a fully accredited childcare provider with more than 30 years of experience.

On April 4 The Oregon Coast Childcare Center opened in a well-appointed 1400 square foot facility with a fenced backyard. The center is certified for 12 children between the ages of 1½ months and 12 years. Although the center was designed to serve children of Oregon Coast Bank employees, other local families are able to obtain childcare when there are openings.

“Our employees have been thrilled with the level of care,” commented Meengs. “It’s a beautiful facility close enough to the bank so that they can drop in and say hi to their kids. Debbie and her staff are providing lots of creative learning activities… most importantly, the children seem very happy.”

Locally owned and operated, Oregon Coast Bank now has more than $160 million in assets and serves a diverse customer base from its offices in Newport, Pacific City, Lincoln City, Waldport and Toledo. The bank has proven to be a reliable source of financing, lending more than $275 million to local families and businesses.