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Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
Ignore These 4 Travel Myths
Traveling This Summer? Ignore the 4 Travel Myths
If you’re planning a road trip this summer, ignore these 4 travel myths as your finalize your travel details.
Myth 1: The day before Thanksgiving is the busiest day for travel.
Nope, according to USA Today, the busiest travel days generally occur during the summer, the exact date changing from year to year. According to the Department of Transportation, the busiest day in 2014 was Aug. 8. But the big holidays, such as 4th of July and Labor Day, tend to see a spike in travel, so you can assume the road and airports will be busy.
Remember, this year the eclipse will be a major event in Central Oregon, so consider planning your vacation to somewhere not impacted by the eclipse. It might be less busy, easier to move around and get lodging, and possibly even less expensive.
Myth 2: The best airfare deals are available on Tuesdays
According to a 2014 study by the Airlines Reporting Corporation, Sundays 50 to 100 days before your departure date are the best time to buy coach tickets, costing on average $110 less than the overall average ticket price.
Myth 3: “Staycations” are always less expensive
If you’re flying, it’s not always cheaper to stick close to home–especially if you’re not flying from a major hub city to another hub city. Check airline prices online, and you might be surprised that greater distances don’t always correlate with a greater price.
Myth 4: Nothing is ever free
If you’re travelling to a tourist destination, there are always freebies available–particularly for kids. A simple Google search can save you money. There are often coupon books available which are usually distributed to locals, too.
When you are ready to travel…
Remember to let Mid Oregon know about your vacation plans. You debit or credit card transactions in that far away place won’t be questioned. If you use our CardNav℠ mobile debit card technology, be sure you adjust any geographic use restrictions for your destinations.
Our Summer Skip-A-Pay program for many of our loans might also be available to give you a little extra cash for that great vacation. For more details, and to participate in Skip-a-Payment, get started here.
Protecting Our Seniors on World Elder Abuse Awareness Day
From a LinkedIn editorial published on 5/15/16.
By Jim Nussle, President & CEO at America’s Credit Unions; CUNA Credit Union National Association
Protecting Our Seniors on World Elder Abuse Awareness Day
Today advocates from around the globe will meet in Washington, DC for the third Global Summit on World Elder Abuse Awareness Day. Elder abuse, including financial exploitation, is such a global problem that June 15 has been named World Elder Abuse Awareness Day by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations since 2006. It is unfortunate that we need such a day but inspiring that there are so many willing to advocate with, and on behalf of seniors who may vulnerable to abuse.
Serving Seniors in Their Communities is an Important Part of the Mission of Credit Unions
America’s credit unions are dedicated to meeting the financial needs of all consumers, and serving the seniors in their communities is an important part of their mission.* At today’s summit, staff from North Carolina’s State Employees Credit Union will be on the agenda to discuss financial abuse issues plaguing older adults and the legislation that could address the issues affecting our seniors. I applaud State Employees Credit Union for dedicating their time to advocate on this important matter.
Regrettably, there are people who take advantage of the elderly, which is why it is important for all of us to make sure we are doing everything we can to identify and address elder abuse whether it happens online, over the phone, in person by fraudsters, or even by trusted individuals such as caretakers or family members.
Credit union employees, like those at State Employees Credit Union, often know the senior members they serve in their local community personally and can be an invaluable resource in planning for all the joys, as well as the challenges, associated with growing older.
More That Can Be Done
While credit unions can serve as the first line of defense in recognizing the signs and signals associated with this abuse, on the Federal level there’s more that could be done to enhance their ability to notify the proper authorities. The Senior$afe Act (S. 223), introduced by Senators Susan Collins (R-ME) and Claire McCaskill (D-MO), would be an important step toward improving the ability of credit unions to protect seniors from unscrupulous activity by providing legal immunity for properly trained financial services employees who disclose concerns about potential financial exploitation of senior citizens.
This common-sense legislation would allow for enhanced safety measures for some of our most vulnerable citizens and would be instrumental in providing even more opportunity for credit unions and other financial institutions to protect our nation’s seniors. CUNA strongly supports this legislation and is actively working with its supporters in Congress to secure its enactment.
* On Thursday, June 22, Mid Oregon Credit Union will be presenting a free workshop, “How to Avoid Scams that Target Seniors”, at our East Bend branch at 1386 NE Cushing Drive. Sgt. Dan Ritchie, City of Bend Police Department, Cyber Crime Recognition and Prevention Program will be the presenter.
Teens Lack Basic Financial Literacy Skills
One in five U.S. Teens Lack Basic Financial Literacy Skills
6/8/2017 Post by: NEFE (National Endowment for Financial Education)
American Students Struggle to Demonstrate Financial Capability on International Stage
One in five U.S. teenagers (22 percent) lack basic financial literacy skills according to the Program for International Student Assessment (PISA) findings released last month. Among 15 participating countries and economies, U.S. 15-year-olds ranked 7th in aptitude for understanding essential financial concepts, products and risks.
The average scores among U.S. teens were unchanged from results of a similar assessment in 2012. PISA is coordinated by the Organization for Economic Cooperation and Development (OECD), an assembly of governments from 35 member countries.
About PISA
The Program for International Student Assessment (PISA) is a triennial international survey which aims to evaluate education systems worldwide by testing the skills and knowledge of 15-year-old students in science, reading, mathematics and financial literacy. Around 53,000 students were assessed in financial literacy, representing about 12 million 15-year-olds in the schools of the 15 participating countries.
The 2015 assessment covers 15 countries and economies: Australia, the Flemish Community of Belgium, Brazil, seven provinces in Canada (British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario and Prince Edward Island), Chile, four provinces in China (Beijing, Shanghai, Jiangsu and Guangdong), Italy, Lithuania, the Netherlands, Poland, Peru, the Russian Federation, the Slovak Republic, Spain and the United States.
For more information, visit http://www.oecd.org/pisa/aboutpisa/.
PISA Findings
“The initial release of PISA findings (2012) revealed American teens were completely average when it comes to demonstrating a strong knowledge of financial skills. That measurement gave us a baseline to see room for growth or decline. It’s concerning with these latest findings to see that we haven’t moved the needle, and we still have significant work to do to provide meaningful access to teaching youth about money,” says Billy Hensley, Ph.D., senior director of education with the National Endowment for Financial Education® (NEFE®).
The latest PISA release finds only about one in 10 students in the U.S. achieved the highest proficiency level as a top performer, defined by the report as students who can look ahead to solve financial problems or make the kinds of financial decisions that will be relevant to them in the future. The average score among U.S. teens was not different than the OECD average.
China, Belgium & Canada Top 3 Countries Surveyed
China ranked number one overall, followed by Belgium and Canada. Chile, Brazil and Peru ranked as the bottom three. Eight countries — including the U.S. — participated in the 2012 and 2015 PISA financial literacy assessment. The Russian Federation and Italy showed measurable gains in average scores, while Poland, the Slovak Republic, Australia and Spain showed measurable declines.
“It’s clear that we need a better national strategy to teach youth. There are random acts of success with states who are doing it well. But as a country, we need to have a clear set of standards for providing well-thought-out financial education that is relevant and establishes positive behaviors,” says Hensley. “Additionally we need to continue to train educators to effectively deliver financial education and ensure that we are meeting the needs of Americans from all socio-economic backgrounds.”
The PISA study reports just 3 percent of U.S. students from lower-income schools were high performers, compared to 45 percent of students from higher-income schools. Among the low performers, 38 percent of students were from lower-income schools, compared to 16 percent from higher-income schools.
Financial Education Taught In School?
“Parents shouldn’t assume kids are being afforded this education in schools. We need to have regular, meaningful interactions to teach our children the fundamentals of money,” adds Hensley. “A great starting place is to get your child involved with a bank or credit union by having an account and learning to manage it during their teenage years.”
Among students who participated in the PISA study, 53 percent report that they have a bank account, which is an important distinction, as students with a bank account scored on average 42 points higher than those students who do not have a bank account.
To view the complete PISA report, visit http://www.oecd.org/finance/launch-pisa-financial-literacy-students-2017.htm