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.
Thanks for a Great 2016 and Welcome to 2017!
By Bill Anderson, Mid Oregon President/CEO
What a crazy end to a crazy year. Now that we are past the elections and the record snowfall (I think), we are already moving steadily forward on our plans to optimize our operations for 2017.
Optimizing for 2017
We had phenomenal growth in 2016; thanks to our focus on growing our membership. We expanded our charter area and added Wheeler, Lake and North Klamath counties in anticipation
of our new branch in La Pine that opened in June. The La Pine team surpassed all of our other branches in membership growth, even though they were only open since June.
Additionally, we purchased a new administration building to build our infrastructure for our planned growth. We are adding systems, people and processes to help us continue to provide great
service to our members.
Branch in Sisters….Soon
The Sisters branch is still under construction. We hoped to have it open before the end of 2016, but construction delays have pushed us back and we are expecting to have it open soon. The good
news is that we have a great team hired for Sisters and they have been getting lots of extra practice opening accounts and making loans in our other branches.
This year we will be moving past $250 million in assets, another milestone in our accelerated growth. We are benefitting from our strong commitment to Central Oregon and outpacing
the organic and in-migration of new folks moving here.
Exciting New Checking Programs
In February we will be rolling out new checking programs designed to provide more access to more new members and reward our current members for referring folks to Mid Oregon. We
have done a great deal of preparation to get ready for our growth and we are excited to continue to build on our brand promise, “Good Friends. Great Service.”
Thanks for your support and loyalty to Mid Oregon!
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Mid Oregon Surpasses 100,000 Loans Since Inception
Mid Oregon Surpasses 100,000 Loans
At the January board meeting of Mid Oregon Credit Union, a milestone was recognized for the accomplishment of 100,000 loans to members since the organization was formed in Prineville in 1957.
“This is yet another nod to our continued growth and support of our membership in Central Oregon,” said Bill Anderson, President/CEO. “We continue to accelerate our lending as we build our footprint with branches in La Pine and Sisters, and our depositors provide the funds to fuel our increasing portfolio.”
Mid Oregon has 11,676 loans today valued at over $166.2 million. In 2016 the credit union funded 3,848 loans for $65.5 million. Total membership grew to 26,179 as of December 31, 2016.
Meeting the Needs of Our Members
The almost 12,000 current loans represent a variety of financing needs of our members. A growing number of local businesses are using Mid Oregon financing to support their growth and expansion. For our consumer members, auto, RV, truck, home and home equity and credit cards are the most popular financing choices.
A unique loan product we offer is our “Credit Builder”. Currently several hundred members are using this tool to add points to their credit score,build good financial habits, and even to save for the future. A key feature is an easy application and approval process, providing more opportunities for members and making it very convenient.
Mid Oregon has always been a go-to local provider of auto, truck and RV loans in Central Oregon. Today, thousands of our members are meeting their transportation and recreational needs through our new and used vehicle financing, helping the local economy and families grow. Through an automated system, Mid Oregon can communicate directly with franchise dealers to get at-dealer loans completed. Pre-approvals in the branch are used by many members to provide certainty and peace of mind while shopping for their vehicles.
Home Equity Loans Are Meeting Cash Needs
A growing component of our lending is members using their equity in their homes to finance home improvement and other projects and needs. Home equity lines of credit or fixed loans are providing cash for remodeling, landscaping, unexpected needs, and even college tuition for our members at lower rates than other options.
Offering credit is a foundational component of “credit” unions, and Mid Oregon is doing its best to fulfill this need for our members in Deschutes, Jefferson, Crook, Wheeler, Lake and North Klamath Counties. To learn more, or to meet your need or realize your dream, contact one of our loan officers at (541) 382-1795, beheard@midoregon.com, or visit one of our convenient Central Oregon branches in Bend, Redmond, Prineville, Madras, La Pine and soon, in Sisters. Additional information is available at midoregon.com.
Kevin Cole Joins Mid Oregon Executive Leadership Team
Mid Oregon Credit Union adds CFO to Executive Leadership Team
Bill Anderson, Mid Oregon Credit Union President/CEO announces the hiring of Kevin Cole, MBA, CFA as Chief Financial Officer. In this position, Cole’s main responsibilities include corporate strategy implementation along with financial and enterprise risk management.
“We are very pleased to add Kevin to our executive team,” said Anderson. “Kevin comes to us with a depth of experience that will help lead the credit union to even greater levels of success.”
Strong Credit Union Leadership History
Mr. Cole is an experienced finance executive with a Masters of Business Administration and the Chartered Financial Analyst® designation. Prior to joining Mid Oregon Credit Union, he served as Chief Financial Officer at Maps Credit Union in Salem, Oregon where he was responsible for developing financial strategy to consistently improve earnings within established risk limits. Cole has over nineteen years of experience in the credit union industry including CEO at Heritage Grove Federal Credit Union, and CEO at Eagle Credit Union in Stockton, California. Throughout his career, Cole has been recognized for significant improvement in positive financial results.
In his spare time, Kevin Cole enjoys the great outdoors, running, tennis, hiking, skiing and spending time with his kids.
Kevin Cole looks forward to this newest phase in his financial career: “I am honored and excited to join Central Oregon’s leading community financial institution and look forward to working with the team to meet the needs of Mid Oregon members.”