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.
How to Save Money While You’re a Student
Money might be tight when you’re in college, but it’s not impossible to find ways to save. Yes, you can save money while you’re a student. Here are some simple ideas.
Budget
It’s essential to create a spending plan so you know where and how you’re spending your money. This allows for better spending habits. Without knowing where your money is going, it’s impossible to know what to cut back on. Too many dinners out with friends and an unexpected book you have to buy for class and suddenly all the money you have for the month could be gone.
Mid Oregon Credit Union has hundreds of members who are students of local and national colleges. We would like to help those in college save money while in school, and after. We have low or no-cost checking options, and even contribute money to our local colleges for each new COCC or OSU Student who joins.
Food
Prepping meals at home can save you a lot of money. One meal out can cost as much as one cooked meal that includes leftovers for two more meals. Never go grocery shopping when you’re hungry. Stock up on sale items you can easily store or freeze to save time and money.
Textbooks
Before you go out and buy the newest copy of each book for your classes, shop around. Look for used versions of textbooks or rent them if possible. Sometimes you even can find textbooks at the library. If you have to resort to buying a textbook at full price, take good care of it so you can sell it back at the end of the semester.
Entertainment
Staying busy for cheap while in college should never be a problem. Instead of going out and spending money on entertainment, check out the free events that your campus has to offer—concerts, movies, speakers, sporting events. Stay in shape with the free fitness classes or intramural sports that are offered at your school’s recreational center. Lastly, ditch your cable—watch shows and movies online.
In Central Oregon, COCC and OSU Cascades offer some low cost activities:
What Is International Credit Union Day?
Mission of International Credit Union Day
Mission of International CU Day: To highlight and celebrate the qualities that make credit unions the best financial partners of people all over the world.
1. What is International Credit Union Day?
• International CU Day is a day when credit unions all over the world celebrate the qualities that make credit unions unique and show appreciation for their members.
• The celebration started in 1948, and occurs every year on the third Thursday of October.
• There are 57,000 credit unions worldwide in 105 countries.
2. What makes a credit union different?
• Credit unions are not-for-profit financial cooperatives.
• We offer the same services as other financial institutions, but we return all our profits to members. That’s why we have better rates and fewer fees.
• We are owned by our members, not shareholders, so our money stays in the community.
3. What is a cooperative?
• A cooperative is an association of people who come together to meet a shared need.
• All co-ops are democratically controlled and share common principles, such as social responsibility and offering education to members. The 9 credit union principles come from the 7 cooperative principles that all co-ops follow.
• Credit unions are financial cooperatives, but there are all kinds of co-ops. From a neighborhood grocery co-op to national name-brand co-ops, like the outdoor retailer REI.
The Authentic Difference Is Our People-First Principles
On October 20, 2016, credit unions around the world will celebrate International Credit Union Day (ICU Day). We are proud that as credit unions, our authentic difference is our people-first principles.
Credit unions are not-for-profit financial cooperatives, offering the same services as other financial institutions, but with a people-first philosophy.
“The Authentic Difference,” this year’s ICU Day theme, zeroes in on what makes credit unions different from banks, fintech startups and other financial institutions—our principles.
Credit unions have operated according to the same core principles since the 1850s, when a group of weary German workers, tired of being exploited by loan sharks, formed the world’s first credit union by banding together to provide affordable credit to each other.
These principles are based on the 7 cooperative principles, shared by all cooperatives. They are:
1. Democratic Control
One member = One vote. Whether you have $5 or $5 million, your voice is equal.
2. Open and Voluntary Membership
Members are connected by a bond of association, fostering a sense of community.
3. Non-Discrimination
Credit unions are open to all without regard for race, orientation, nationality, sex, religion, gender, or politics.
4. Service to Members
Credit unions are ranked No. 1 in service in numerous surveys, because they exist to serve members, not profit.
5. Distribution to Members
Credit unions return all profits to their members through dividends, lower fees, better savings rates, and improved services.
6. Building Financial Stability
Credit unions are historically stable organizations. They’re owned by the people they serve, so they don’t take unnecessary risks.
7. Cooperation Among Cooperatives
Credit unions and cooperatives share the same principles. Together, they amplify each other’s good works.
8. Social Responsibility
Credit unions strive for social justice by committing to strengthening their communities and helping people of modest means.
9. Ongoing Education
Credit unions prioritize financial education for their members, employees, and communities as part of their pursuit of social justice.
This is why we celebrate ICU Day at Mid Oregon Credit Union. Because putting people before profit, prioritizing social responsibility, and offering financial education improves lives. These values are why cooperative banking is a key component of helping people in developing countries gain access to microloans, or a middle-class couple in Central Oregon receive an affordable mortgage for their first home.
So when we wish you a Happy ICU Day at Mid Oregon. Know that we’re thanking you for belonging to a movement that’s helping your neighbors—and people around the world—grow and thrive and follow their dreams. And contributing to credit union’s people-first principles.
If you have any questions about the credit union philosophy or how Mid Oregon Credit Union can help you, stop by or contact us at (541) 382-1795 or at beheard@midoregon.com.