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.
Pay It Forward: Full Circle Outreach
Full Circle Outreach is this month’s Pay It Forward organization
In 2003 Rebecca Hanson founded Full Circle Outreach in Redmond, to help people get over difficult life obstacles. Today, Full Circle Outreach serves over 4,000 Central Oregonians per year who are dealing with homelessness, physical injuries, mental illness or a criminal past.
This month Rebecca and Full Circle Outreach were selected as the Pay It Forward $500 grant winner, courtesy of KTVZ NewsChannel 21, CoEnergy Propane and Mid Oregon Credit Union. Each month, a committee selects a winner who receives $500 to award to the deserving person they’ve nominated.
The $500 ‘Pay It Forward’ award will go to deliver more help to those in need, says Hanson. Relying entirely on community donations, funds go to employment support and to purchase needed items-everything from toiletries to clothing to furniture.
Go to the Full Circle Outreach Facebook Page
Northwest Credit Unions Support Wildfire Victims
The credit unions of Oregon and Washington are mobilizing their foundation, in collaboration with the local Red Cross and the National Credit Union Foundation, to support victims of the wildfires scorching the Northwest.
Destructive wildfires are raging across Oregon and Washington. A fire near Twisp, Washington claimed the lives of three forest service firefighters yesterday, and Oregon Governor Kate Brown activated the state’s National Guard to help fight that state’s fires. Northwest Credit Unions Support Wildfire Victims as they mobilize their efforts, including Mid Oregon.
Fires Causing Devastation
The Canyon Creek Complex fires have already destroyed at least 36 homes and damaged 50 others. It currently threatens another 500 structures in the area, and authorities said the actual toll is likely to climb as crews continue to assess damage in the coming days. More than 70 structures have been destroyed in Washington’s Chelan Complex fires, which are burning in several areas around Lake Chelan.
Foundation Providing Support & Relief
The credit unions of Oregon and Washington are mobilizing their Northwest Credit Union Foundation (NWCUF) to provide financial support and relief to victims of the fires. The Foundation has created three relief funds—one for the Canyon Creek Complex fires in Oregon, one for the Chelan Complex fires in Washington, and a general fund to be directed where it’s most needed. It has seeded the two area-specific funds with $5,000 each and is collecting donations from the credit union community. All funds will be donated to the relief efforts of the Red Cross in Oregon and Washington.
Read more on www.nwcua.org
Students: Easy Ways to Cut Costs
College students are gaining confidence in personal finance management but unfortunately also have become less competent. A survey conducted by High One and Everfi recently found that in 2014, college students were more likely to use more than one credit card than they did in 2012, according to USA Today.
Considering that nearly two-thirds of undergrads take out student loans, and college seniors are graduating with an average loan balance close to $24,000, if students aren’t careful about spending, the first financial steps they take after college might send them in the wrong direction.
While college expenses may seem limitless, students can learn to manage them by avoiding these common money drains, according to CUNA’s member education department:
• Carrying a credit card balance. Many credit card companies lure borrowers with enticing offers, and then hit them with a hefty monthly interest charge on their accrued balance. According to Forbes, the average student graduates with $4,100 in credit card debt. Using a credit card is not a bad thing and actually can improve a credit score, but the key is to pay off the balance every month. If you don’t already have one, consider getting a Mid Oregon credit card, with low rates, no balance transfer and no cash advance fees.
• Going out to eat—a lot. Say you spend about $5 on a coffee and bagel for breakfast each morning and $8 on a sandwich or fast food for lunch and dinner. That means you’re spending more than $100 for five days of food—and these examples are modest. While it may take a few extra minutes each day, buying $100 worth of groceries and cooking at home will stretch your dollar, and can be healthier too;
• Buying new textbooks. According to the College Board, the average student at a four-year public college spends $1,200 on books and supplies annually. You can’t eliminate the cost completely, but there are ways to trim your textbook budget. Consider purchasing used textbooks online. You also can resell your textbooks via sites like Amazon Marketplace or Half.com after classes end. Textbook rentals also have become popular. The COCC Bookstore, which serves both COCC and OSU Cascades students, has purchasing and rental options, as well as a buyback program; and
• Not using campus resources. Most colleges assess fees, which help provide a range of student services beyond those covered by tuition. Since you’re already paying for these services, don’t waste the money elsewhere. For example, use the campus gym instead of paying for an additional gym membership and use campus technology resources instead of paying an offsite repair shop. Make positive and sound decisions to reach their financial goals.