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The Bottom Line

The Bottom Line

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.

Meet Lauren Olson, at Cascade Insurance Center

Meet Lauren Olson, at Cascade Insurance Center

Recently Lauren Olson became the “go-to” person at Cascade Insurance Center for Mid Oregon members. For several years, locally-owned Cascade Insurance Center has been our Strategic Partner in serving much of our members’ insurance needs.

Cascade Insurance Center

From Cascade’s Bend Office at 1201 NW Wall St., Suite 100, they help Central Oregonians protect themselves with Auto, Homeowners, Business, Workers Compensation and Life Insurance. Being a broker, Cascade offers its customers the choice of several insurance carriers to find the best value, including Pacificsource, Safeco, Travelers, moda Health, AFLAC, and more.

Mid Oregon is happy to be working with Lauren, who, like John Gould who preceded her as our Cascade representative, has strong Central Oregon roots. Lauren is a 2000 graduate of Mt View High School in Bend and Point Loma Nazarene University in San Diego with a bachelors degree in International Development and Business. She returns to Bend after 12 years and brings her husband Bo and children Adilyn and Harrison with her.

Meet Lauren, Home and Auto Expert

We thought you would like to get to know Lauren better, so we asked her some questions about herself and her approach to working with us and our members.

Do you have pets? One crazy Australian Shepard!

Any kids? A three year old boy and a one year old girl. Yes, my hands are full!

Favorite restaurant? Drake, it holds special meaning to me 

What insurance advice do you have for our members? Bundle! The more policies you have with one insurance company, the more discounts they will give you. And get an agent, we are helpers that cost nothing and can find you the best rate and policy. There is no reason not to use one.

What is your favorite part of being a Mid Oregon Credit Union Strategic Partner? Seeing how Mid Oregon Credit Union staff care about their members and the satisfaction they get from helping them. They are truly committed to the members’ well-being and I am proud to be part of an organization with those values.

We think Lauren is a great fit and exemplifies Mid Oregon’s motto of “Good Friends, Great Service”. We hope you agree!

To reach Lauren to learn more about how Cascade Insurance Center can help you improve your financial well being, call Lauren at (541) 382-7772, email to Lauren or visit cascadeinsure.com.

Home Equity Loans: Low-Cost, Tax-Advantaged Credit

Home Equity Loans: Low-Cost, Tax-Advantaged Credit

If credit card payments are eating up your disposable income each month, or if you need cash to remodel your kitchen–or to buy a new car– home equity loans or home equity line of credit (HELOC) might be your best bet.

Tax Advantages

There’s also a tax advantage. Unlike almost any other consumer loan type, the interest on a home equity loan or HELOC of $100,000 or less is likely to be tax-deductible ($50,000 if married filing separately).

Home equity loans and HELOCs are two distinct products. With a home equity loan, you borrow a lump sum of money repayable over a fixed term, usually 5 to 15 years, giving you the security of a locked-in rate and a consistent monthly payment.

Home Equity Loans for One-Time Expenses

People tend to use home equity loans for large, one-time expenses like a major home-improvement project. You also might use one to start a business, make a big-ticket purchase, or consolidate high-interest credit card debt. This type of loan makes sense if you don’t foresee future borrowing needs.

On the other hand, a HELOC is much like a credit card or any other type of open-ended credit. You can borrow money as needed, up to the credit limit your lender assigns. If your lender offers online banking, you can transfer funds from your HELOC to your regular checking or savings account. A HELOC is usually a variable-rate loan, so your monthly payments will change based on your outstanding balance and fluctuations in the prime rate.

HELOCs Offer Flexibility

A line of credit offers flexibility and ready access to funds, making it ideal for unexpected expenses like large medical bills. A HELOC also can help finance a child’s college education, especially for higher-income families who don’t qualify for financial aid.

Since home equity loans and lines of credit use your home as collateral, if you don’t make your payments, you could lose your home. But if you don’t take on excessive debt and you do make timely payments, you can’t beat the low interest rates and tax-deductible interest of a home equity loan or HELOC.

A Mid Oregon Credit Union loan officer can explain which type of home equity loan may work for you. Call us at (541) 382-1795, email us, or visit one of our convenient Central Oregon branches (Now including Sisters!) for more details.

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