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.
Save To Win at Mid Oregon!
Get a Chance to Win Every Time You Save!
Come on, admit it—it’s fun to buy lottery tickets. You never know if today might be your lucky day, and even if your number doesn’t come up, it’s fun to daydream about what you’d do with the extra cash.
Wouldn’t it be even better if every time you bought a lottery ticket, someone put that money into a special account so you’d have it for a rainy day? That’s the idea behind the Save to Win account, now available at Mid Oregon Credit Union. Every time you deposit $25 into your Save to Win account, you’re entered into a special quarterly drawing for a chance to win up to $5,000. You can enter up to 10 times per month, increasing your odds of winning with every deposit! What’s more, you’re also entered to win several quarterly $1,000 and $250 prizes, as well as a bunch of monthly $25 prizes. Lots of opportunities to win month after month!
A Fun Way to Start Saving
We all know we need to save more. Sometimes, it’s just difficult to prioritize tomorrow’s needs over today’s wants. With Save to Win, creating a regular savings habit can be a little more fun—who knows if your next deposit will be the one that wins a prize?
All you have to do is stop by your Mid Oregon branch or give us a call to set up your Save to Win account. We’ll even show you how you can set up automated deposits so you’re always entered into the drawing—you can enter every week, every payday, or anytime you’d like to sock away a little extra cash. Your savings will grow faster than you ever thought possible, giving your family greater financial security down the road. Talk about hitting the jackpot!
Play a game where you’re always a winner—Open your Save to Win account today!
Save to Win Program Announced by Mid Oregon Credit Union
Mid Oregon Credit Union rewards members for saving more of their hard-earned money with a new program called Save to Win. The Save to Win program is a prize-linked savings vehicle that rewards members for contributing to their own savings account. With monthly and quarterly prizes ranging from $25 to $5,000, members save money, gain interest and have a chance at great cash prizes.
Chances to Win Cash Prizes
In addition to gaining regular interest on their savings, each additional deposit of $25 gives them more chances to win. Members can earn up to 10 entries per month, so the more they save, the more chances they have to win. Find out more at www.midoregon.com
Since 2009, the Save to Win program has helped credit union members save more than $100 million nationwide. In addition to savings, more than $1.7 million in prizes have been given away to participating members nationwide.
Growing Nationally in Popularity
Save to Win, which has been featured in the Wall Street Journal, the New York Times, and on PBS and NPR, was developed by the Doorways to Dreams Fund, the Filene Research Institute and the Michigan Credit Union league. Michigan was the first state to offer the Save to Win program in 2009. Since then, several other states joined this prize-linked savings program, which include Connecticut, Indiana, Illinois, Nebraska, New York, North Carolina, Oregon, Virginia and Washington. To learn more about Save to Win visit www.savetowin.org
“Mid Oregon is proud to be among the first few credit unions implementing this program in Oregon”, said Mid Oregon’s CEO Bill Anderson. “We recognize the value of providing exciting new products that reach out and help both our current and potential new members who are working hard to establish themselves financially. Save to Win gives them the opportunity and incentive to start saving and establish a habit that will benefit them throughout their lifetime.”
Support For the Financially Vulnerable
According to the 2014 program report by the Doorways to Dreams Fund, 78%-91% of members who were surveyed were classified as being financially vulnerable. More than three quarters of the program’s participants are low-to-moderate income, have no regular savings plan and/or have no assets, outside of home equity. Save to Win was designed to appeal to credit union members who are not in the habit of saving and can help those who are financially vulnerable, by giving them a fun, engaging tool through which they can develop a better financial future.
5 Things to Consider When Moving Out on Your Own
Graduating college is a huge milestone, but moving out on your own, away from dorms and comfortable college-town apartments can be an even bigger step.
If you’ve recently graduated, here are five things to consider before moving out on your own, making the big move.
1. Cities are expensive.
Buying a house is expensive, but so are apartments–especially in big cities. Crunch the numbers to see what makes sense. The cost to move into some apartments can practically equal that of putting 4% down on a home! Mid Oregon Credit Union has some great solutions for first time home buyers. So when you’re starting out, you might find living with roommates still makes the most sense.
2. If you decide to live at home, make paying off debt and saving a priority.
If you decide to move home with the parents after school, make paying off as much debt as possible a priority, and get a sizeable nest egg under your belt before you move out (Pro-tip: Pay for a bill or two — and offer to do it. Your parents might love you even more.)
3. Make sure your roommates are reliable.
The process of finding a place with two roommates can be stressful to say. Coordinating schedules and making sure everyone feels like they have a say is challenging, and it’s only the beginning. If your roommates are constantly in between jobs or bad with money, it’s best to walk away before it’s too late and you’re stuck paying for their share.
4. Get renters insurance.
Renter’s insurance is smart because it covers all kind of situations, from stolen property to accidental damages. You can also pay for exactly the coverage you need; nothing more and nothing less. Mid Oregon’s Strategic Insurance partner, Cascade Insurance Center, can discuss the best renters insurance for you.
5. Don’t lose those frugal habits.
Just because you’re on your own own doesn’t mean you should live less responsibly. Quite the opposite! In the end, money impacts your ability to really live your life. Set a budget and stick to it, and you’ll be amazed at how disciplined you become in no time.