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.
Preston Thompson Guitars
Earlier this year, Mid Oregon Credit Union Commercial Services provided Preston Thompson Guitars of Sisters with financing to help them expand their business. We appreciated Preston Thompson and his team coming to us, especially in light of our new Sisters branch opening later this year.
Preston Thompson, Master Guitar Luthier
Thompson, who has built guitars since the 1970’s, is a “master guitar luthier”, and has worked with some of the greats in his field. From pktguitars.com:
“Discovered by bluegrass virtuosos Charles Sawtelle and Peter Rowan in the 1980s, Preston has built a reputation for handmade, original vintage guitars. He got his start building guitars under Charles Fox at the School of the Guitar Research & Design Center in Vermont, the first school for guitar makers in North America.
“During the 1970s, he honed his guitar-making skills at the legendary Randy Wood’s Old Time Pickin’ Parlor, the center of Nashville’s bluegrass music jam scene. In the 1980s, Preston’s custom acoustic guitars attracted the attention of the top flatpicking and fingerstyle guitarists in the world.” Read more about Preston Thompson…
How Mid Oregon Helped PK Guitars
Recently we caught up with Preston Thompson Guitars’ Christine Funk, who offered these thoughts on how Mid Oregon has helped their company:
How did this loan impact your business?
Christine: This loan was critical for Thompson Guitars to expand and continue to grow their business. Having a line of credit to count on for cash flow ups and downs gave us a sense of security as we moved quickly forward with purchasing inventory and creating a larger brand presence in the marketplace. Also the small equipment loan helped speed up our processes with new and improved jigs, fixtures and larger pieces of equipment to fill guitar orders in a more timely manner so that we can accommodate more orders. We also were able to replace a high interest short term loan with a longer lower interest loan from Mid Oregon Credit which helped out our monthly expense total.
Any comments about Mid Oregon?
Christine: Mid Oregon Credit has been helpful every step of the way from the loan process, providing a list of items they needed to complete the loan and making it a quick the turn around for both the credit line and equipment loan to keep our company growing. We have a great team at Mid Oregon Credit that we can ask questions to and feel they are a part of our business helping us to be successful. They provide a very personal touch with coming out to visit our shop to check on progress even after the loans were put into place.
More about Preston Thompson Guitars:
Preston Thompson Guitars
Website: pktguitars.com
Address: 352 E Main Ave, Sisters, OR 97759
Mailing Address: PO BOX 250, Sisters, OR 97759
Phone: (541) 588-6211
From their workshop in the music-loving town of Sisters, they build custom guitars and standard models based on the best American made guitars from the 1930’s. The choice of Grammy-winning flatpick and fingerstyle guitarists alike, Preston Thompson Guitars are among the best acoustic guitars available anywhere, renowned for superior tone, craftsmanship and materials.
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.