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.
Credit Union Membership Is Worth Hundreds
Did you know you’re saving money—maybe hundreds of dollars a year—just by being a Mid Oregon Credit Union member? Credit unions typically charge fewer and lower fees than other financial institutions, according to the Credit Union National Association’s (CUNA) latest membership benefits report.
Of course, the amount you save has a lot to do with your financial habits and the number of Mid Oregon products and services you use. On average, credit union member households in the U.S. save about $159 a year.
Some of those savings comes from higher rates on savings products. For example, according to CUNA’s latest report, money market accounts at credit unions earned an average interest rate of .18%, while the same accounts at banks earned .09% interest.
Lower rates on credit cards also benefit the bottom line. CUNA reported that the average rate for a classic credit union credit card is 11.70% versus 17.16% for a bank credit card.
Consider this: Financing a $25,000 new automobile for 60 months at a credit union will save members an average of $171 per year in interest expense compared to what they would pay at a banking institution. That’s approximately $855 in savings over five years.
Credit unions offer better value because they are non-for-profit institutions owned and controlled by their members. Banks are owned by stockholders who want solid returns on their investments.
Bottom line: If you’re looking for a safe place to save and borrow, without getting nickeled and dimed to death, credit unions are the best deal—bar none.
So visit Mid Oregon Credit Union to see how much more you can save by using our services, at one of our offices in Bend, Redmond, Prineville, Madras or La Pine. You can also learn more at www.midoregon.com,
Mid Oregon Credit Union Receives Approval for Expansion
The member-owned, full-service financial institution headquartered in Bend announced today that the National Credit Union Administration (NCUA) has approved its application to expand its community charter boundaries. In addition to serving all of Deschutes, Crook, and Jefferson Counties, the new charter allows Mid Oregon Credit Union to serve people who live, worship, work, or attend school in Lake and Wheeler Counties, and in Northern Klamath County that is part of the COCC tax district.
“This approval opens up new areas of opportunity and also restores a historical relationship with Wheeler County, which was part of our charter from 1961 to 1998. We look forward to introducing ourselves in the new area and re-establishing our connections in Wheeler County” said Bill Anderson, President/CEO of Mid Oregon.
For clarity, the Klamath County zip codes included in the charter expansion are:
97733 – Crescent, Crescent Lake, Odell Lake
97737 – Gilchrist
97739 – Those portions of Klamath County taking mail delivery out of La Pine (e.g. Jackpine Village)
A new La Pine branch is under construction with an estimated completion date of June 2016. La Pine residents and the newly approved charter area will have access to the new full-service branch. The branch will offer a full service drive-up ATM, a 24 hour access walk-up ATM, and is designed to offer a full range of services. The Credit Union also offers its members convenient online and mobile banking services, including remote deposit and debit card security applications.
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