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.
Drink Tanks
Since the middle of 2015, Drink Tanks has been a business member of Mid Oregon Credit Union. We are thankful that we have been able to support this relatively new Central Oregon company in its fast growth with some timely financing.
Nicholas Hill Revolutionized the Personal Beer Container Industry
In 2013, Nicholas Hill launched Drink Tanks to change how people drink beer. His vision of Drink Tanks was to craft beer containers using new creative initial fundraising methods while building the business and bringing jobs to Bend. From www.drinktanks.com:
“Nicholas Hill began developing the DrinkTanks growler…he noticed that, despite the burgeoning national craft beer scene, there wasn’t a container on the market that treated craft beer with the same care and respect that the brewers put into it. Despite incredible innovation occurring within the craft beer scene, the portable containers used to carry beer had stayed the same.
“With the help of his father, Dr. Tim Hill, he began developing a design that would revolutionize personal beer containers. Dr. Hill passed away in 2011, but Nicholas continued to develop the idea. In 2013, Engineer John Herrick joined the team and helped finalize the initial design. Eschewing traditional fundraising methods, Nicholas launched a Kickstarter campaign to bring the DrinkTanks Growler to market. The campaign was a wild success, launching DrinkTanks into the spotlight of a worldwide audience of craft beer enthusiasts.
“Rather than outsourcing the majority of the labor put into the product, Nicholas opted to move as much of it in-house as possible. He set up a manufacturing facility where all of the powder coating, custom engraving and assembly for every DrinkTanks product are currently done. By retaining the labor in-house, DrinkTanks is able to bring jobs to Nicholas’ hometown of Bend, Oregon, as well as ensure that the quality of the overall product is far superior to any other growler on the market.”
How Mid Oregon Helped Drink Tanks
Maureen Parco, Drink Tanks Controller, shared with us last month about how Mid Oregon has been as a commercial partner:
“Drink Tanks Corporation sells beer growlers and accessories here in Bend, Oregon. Founded in 2013, I don’t believe our company would have been as successful as it is today without the help of Mid Oregon Credit Union (MOCU).
“MOCU (Mid Oregon Credit Union) believed in the potential of Drink Tanks Corporation, which empowered our executives to reach even higher levels.
“For the past several years, MOCU has been helpful in this success by providing financing in several areas. They partnered with the Small Business Administration to provide an inventory and working capital loan which enabled us to grow and deliver products on time. They financed equipment purchases we utilized to modernize our plant. They were instrumental in helping acquire a suitable 18,000 sq. ft. facility. We recently completed the financing of a vehicle to travel to various events in Oregon and elsewhere, which boosts sales. MOCU has been central to providing that stepping stone to move from ‘small’ to ‘medium’ to ‘large’.
“MOCU has not only provided financing, but they have been a great help with advice and information about what may be available for Drink Tanks. An example is the Energy Program which we pursued, saving not only money, but helping the environment.
“We look forward to many years of a strong bond and partnership between the Drink Tanks Corporation and Mid Oregon Credit Union. Without this resource, I don’t believe we would be where we are today.”
More About Drink Tanks
62910 Peerless Court
Bend, OR 97701
(541) 728-5579
Website: https://www.drinktanks.com
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Their Philosophy:
- Quality and Continual Improvement
- Local Responsibility
- Environmental Responsibility
Your Life Goals Are Our Life Goals
If there’s ever a time that “millennials” need cooperatives, it’s now. If you are millennial, you may not really know about credit unions, and that your life goals can be met better with us.
The last ten years have been quite transformational for this generation of young adults. Younger millennials just graduating college likely saw their parents lose jobs, benefits and pensions while bank executives lost nothing. According to a study by Filene Research Institute, millennials make about as much (rather, as little) as previous generations, but factor in the average student loan debt of $27,000 and that take home pay is quickly eaten up.
Despite that, millennials are principled and they maintain an optimistic outlook about their financial future. And life goals and financial goals are entwined. If you’re looking to firm up yours, a credit union–which is a not-for-profit financial cooperative that offer the same services as other banking institutions–is a smarter choice.
Your life goals are our goals. Here are some ways Mid Oregon Credit Union can help you achieve your life goals.
If you value open membership without boundaries, Mid Oregon is for you.
When you opened your first bank account, did you have to deposit some ridiculous amount of money or risk getting hit with a $5 monthly fee? At a credit union, you usually only have to deposit a minimum that you can meet. That money is a “share” in the company instead of money that’s invested in high risk securities. Anyone can open an account without worrying about meeting certain terms.
If you value cooperation instead of competition, a credit union is for you.
Why should you have to suffer because your financial institutions doesn’t have ATMs everywhere? A $4 fee here and there really adds up. You shouldn’t have to spend $24 to withdraw $20. That’s a ripoff! Instead, grab your smart phone, download the Co-Op ATM app and find a free ATM to conduct your business. Voila! Even though Mid Oregon’s name isn’t on most of the ATMs, we have over 30,000 ATMs domestically for your convenience. As everyone knows, life is a little better when you work together instead of making everything a competition.
If you value education, training and information, a credit union is DEFINITELY for you.
Credit unions are the only financial institution with education as one of their foundational principles. Mid Oregon’s strategic plan includes the following:
“Enhance the financial literacy of our members and their families.”
Many credit unions offer training seminars for buying a house, buying a car, rebuilding credit, identity theft protection and retirement planning.
A credit union, with it’s not-for-profit values, can help you affect change in your community and life. Whether it’s an auto loan, mortgage, small business loan or credit card, they are simply a smarter choice. Set big goals in the New Year, and Mid Oregon Credit Union can help you achieve them.
How to Give Wisely This Holiday Season
If you’re going to give, it makes sense to do it intelligently and for the right reasons. Here are four steps to making sure your hard-earned money goes to a cause that reflects your values and will have the most impact. You should learn how to give wisely this holiday season.
Step 1: Research the organization asking you for money.
Have you heard of the website Charity Navigator? This site rates charities based on many criteria, like CEO salary, percent of money directly benefiting those in need, and dollars raised per year. Taking these into consideration, Charity Navigator assigns a grade to different organizations. You don’t want to donate your hard-earned money to a charity or non-profit without doing your research first.
Step 2: Think about why you’re donating.
The only reason you should donate to any organization is because you believe in its mission. If you’re doing it because you feel pressured by your employer to give, or because you’ve been receiving a lot of sales pitches from the organization, it’s okay to opt out, especially if you simply don’t believe in the mission. That money can be put to use in a better way for an organization you actually do support.
Step 3: Consider donating your time instead.
Organizations do need money to function; that’s just a given. But they also need volunteers. It’s so important to know the difference between charity and philanthropy. I would rather donate my time any day, but I also recognize that many non-profits just don’t have enough money to operate. Donating your time is so much more rewarding, as you meet new people and actually get to see the fruits of your labor. If you simply can’t afford a donation, donate your time.
Step 4: Give from the heart.
If you decide you’re ready to donate your money, be proud of your decision. Know that you’ve made it through a clutter of companies fighting for your money with marketing campaigns, guilt tactics, and tax benefits. If it doesn’t feel right, it isn’t. And frankly, you have no one to answer to except yourself (and possibly Sallie Mae). Giving from your heart will make the most impact for everyone.
It’s easy to feel cynical when someone asks you for money. But giving should feel good and be based on your own personal beliefs, not on what someone else thinks is right for you.
Maximize Your Money: Donations
Getting the most value for your charitable donation investments starts with you…and your spending plan. Putting a line item in your budget for giving helps ensure you put money aside to help, and then you determine the best place for those dollars based on your values or beliefs.
It’s might be easy to feel cynical when someone asks you for money. But giving should feel good and be based on your own personal beliefs, not on what someone else thinks is right for you.
Mid Oregon Credit Union can help you with savings products to help you make your donations work better for you. Please review us online, or stop by one of our seven convenient Central Oregon branches to learn more.