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.
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.
The Holidays: A Good Time to Buy?
Is the Holiday Season Really a Good Time to Buy?
You’ve seen the ads—a breathless wife or husband running out of the house in their P.J.s to find a beautiful new car (usually festooned with a huge red bow) sitting in the driveway. Have you ever wondered if it is a good time to buy a vehicle during the holiday season?
Three Reasons Why Now Is a Good Time to Put a New Vehicle Under the Tree
Turns out, it’s can be an awesome time! Here are three reasons why the holiday season gives you a great opportunity to make your best deal on some new wheels.
1. Buy toward the end of the month. Many consumer-finance experts tell us that the best time to buy a vehicle from a dealership is late in the month—and the holiday season certainly qualifies. That’s when a lot of sales teams are eager to make additional sales to meet their monthly quotas—so you may be able to negotiate a better deal. Shopping during month-end, AND during the final month of the year? That’s just plain smart!
2. Stop in when dealerships aren’t as busy. Again, this makes mid to late December a great time to buy. The craziness of the holiday-shopping season means most consumers have their attention elsewhere. The dealerships might be pretty quiet, so you’ll have your pick of inventory, and the sales team will be ready to make a good deal.
3. Don’t shop right after new model years are introduced. You don’t want to try and negotiate for a brand-new vehicle when demand is highest—it’s always good to wait. Since most models are unveiled around August and September, the fervor has usually died down in December, and last year’s models are taking up valuable space. It’s a great time to make your move!
Additional Auto Shopping Tips
If you’re ready to start shopping, don’t dust off that big bow just yet. Here are a couple tips to make the process go a little more smoothly:
1. Do your homework. Research what vehicles are available in your area, and get a good idea what vehicle you want, and what you’re willing to pay. You can start by visiting Mid Oregon’s Auto Smart Web Portal.
2. Know your price range before you shop. Negotiate with confidence—it only takes a minute to get pre-approved for your auto loan at the nearest Mid Oregon branch. Then, you’ll know what you can afford, what your payment will be, and you’ll make a deal you can really live with. Visit the branch, give us a call, or go online to get started.
But When You Just Have To Have It…
Okay, so what if you ignore all this advice? Hey, it happens—especially when it comes to shiny new cars. If you find the car of your dreams and want it RIGHT NOW, just ask for Mid Oregon financing at the dealership. They can usually help you on the spot! Or, what if you come home with the dream car, but not the loan of your dreams? Just stop in and ask us about refinancing. We’ll help you find an auto loan that fits your budget AND financial goals.
Happy holidays!