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Access to Credit Is Critical

Access to Credit Is Critical | Young family in front of new home being constructed

A recent poll emphasized that access to credit is a critical component of financial wellbeing and resilience. In borrowing, 86% of credit union members say that their institution makes it easy for them to get loans. Access to credit is part 1 of our 6-part series on the results from a recent national poll.

2022 National Voters Poll Results

A 2022 National Voters Poll conducted by CUNA* (Credit Union National Association) was shared in a recent white paper. The poll showed that credit union characteristics unambiguously translate to greater financial resilience. They also translated to higher levels of financial well-being for credit union members.

Credit union members fare better across the board on the four key components of financial health:. Those components are spending, saving, borrowing, and planning, according to the Financial Health Network.

Access to Credit Is Critical

In the area of borrowing, having access to credit is critical to financial well-being and resilience. Affordable credit can help consumers make key purchases. Affordable automobile loans, for example, help ensure access to reliable transportation to work. They also reduce the likelihood of income disruptions. Similarly, affordable home loans give many the opportunity to work toward financial security and to build intergenerational wealth.

My Financial Institution “Makes it Easy to Get Loans”

In the survey, credit union members are two times more likely than nonmembers (by a 44% to 22% margin) to have strong feelings on this issue — responding “very positively” to the idea that their financial institution makes it easy to get loans. Credit union members who live in rural areas are nearly three times more likely than nonmembers in rural areas (by a 52% to 18% margin) to have strong feelings on this issue — responding “very positively” to the idea that their financial institution makes it easy to get loans.

Access to Credit at Mid Oregon

Mid Oregon has a lending focus built on providing accessible credit to members. In fact, we feel that it isn’t “can we do the loan”, but “how can we do the loan”. Our responsibility is to make good financing decisions for both the individual and for our collective membership. However, Mid Oregon loan officers will look for how best to make the situation work for the borrower.

Many of our loans are started online from our secure applications. Still, we receive many raving Google reviews about our branch loan officers and our lending results for members. Here are a few recent comments from 5-star reviews:

“Chandler at Mid Oregon was amazing! She got my auto loan refinanced within 4 hours and was beyond helpful and happy! Her and all of her team are just amazing at what they do, and I’d be lost without my mid oregon people!”

“I went to Mid Oregon to inquire on a RV loan. From beginning to end the loan process was smooth and fast. Natalie and Amanda did an amazing job communicating with me and the sellers. Next loan I get will be with Mid Oregon no doubt!!”

“Our experience with Dina, was very professional and efficient and we would recommend to anyone to seek out her expertise and energy for their next real estate transaction.

Mid Oregon has financing for almost any want or need. Please take a moment to see how we can help. Start with our secure loan application, through email, by calling (541) 382-1795 or by visiting one of our seven conveniently located Central Oregon branches.

Poll Information

*The online panel survey, conducted by FrederickPolls during January 2022. The survey is based on a nationally representative sample of 2,500 voters (with a margin of error equal to + 2%). Questions center on financial behaviors and outcomes, trustworthiness, and connections to the local community.

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