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.
The Lease is Up-Should You Buy the Car?
Your auto lease gives you a right to buy the vehicle for a fixed price at the end of the lease. But should you? If you have less than three months remaining on a lease, now’s the time to decide. So, find your lease and read on.
How To Decide
1. Do you like the car? If it’s performed well with a minimum of unexpected cost and repair, then it might be good to renew the lease.
2. Will it still fit your needs? If you’re driving a 2-door sports coupe but are expecting a baby, you probably need a new car.
3. What is your lease-end buying price? You’ll find the purchase option price in your lease. Let’s assume it’s $14,000.
Is it Worth It?
4. What is your vehicle actually worth? Check websites such as Kelley Blue Book (kbb.com) and Edmunds.com Let’s assume your highest wholesale value is $15,000.
5. How does your vehicle’s wholesale value compare with its lease value? If it’s higher than the lease value, then it’s a good deal. In our example, your lease says you can buy for $14,000. You’ve confirmed wholesale value is $15,000. You’re buying a car you know and like for $1,000 less than its wholesale value. Buy the car.
6. What if the wholesale value is less than the lease value? If it’s a lot less, don’t buy the car. It doesn’t make sense to buy the car if your lease’s buy-out price is $14,000, and the car’s wholesale value is only $11,000.
7. What’s the bottom line? If your lease car is a good friend, and you can buy it for no more than $1,000 over wholesale value, that’s a smart buy. Your next smart decision is to finance it at Mid Oregon Credit Union. We have affordable financing with low rates and flexible terms.
Protect Your Investment When You Finance
We have additional loan protection choices such as MEMBER’S CHOICE TM Borrower Security, Guaranteed Asset Protection, AD&D Insurance and Mechanical Repair Coverage. These additional products our members can add with their loan offer insurance against many of life’s unexpected situations.
Visit any of our seven Central Oregon branches, email us or call us at (541) 382-1795 to talk to one of our Contact Center loan officers to learn more about how Mid Oregon Credit Union can help you make a good decision on your leased vehicle.
A Very Fast Start In 2017!
By Bill Anderson, Mid Oregon President/CEO
Our Newest Branch- in Sisters
Mid Oregon is off to a very good start in 2017. In March we opened our newest branch in Sisters! New members are joining and we are hearing positive feedback from existing members who have been waiting patiently for the branch to open. Our team; Marc Madron, Christina Schulz and Madison Gibney are very happy to serve you and are looking forward to lots of referrals and new business.
Our first quarter financial results were impressive. We are ahead of our goals for lending, membership growth and income. All very strong for the first three months of the year and putting us on pace for a solid performance in 2017.
New Checking & Referral Programs
Part of our first quarter success and strong growth can be contributed to our new checking programs and referrals from our members. Thank you for sharing your credit union with your friends and family! Please keep letting people know about our great checking accounts.
Biggest Free Shred Day Ever!
Additionally, we had a very successful Free Shred day on April 15th, which we thank our key partner Bend Garbage and Recycling for providing the service to our communities in Bend, Redmond, Prineville and Madras. The total amount of paper recycled was almost eight tons and we were able to raise over $3,000 in contributions for Healthy Beginnings Adopt-A-Bear from our members who participated in the event. Thank you!
For the remaining 2017 year, we will continue to focus on you by looking for opportunities to provide great service and convenience and a trusted and secure source of financial products
and information.
Thank you for being a member of Mid Oregon Credit Union!
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.