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.
Holiday Spending Is Getting Smarter, But You Can Be Smarter Still
Smarter Holiday Spending?
The average American will have spent nearly $900 on holiday presents this year. If you have two adults in your household, that’s almost $1,800. In looking at the sales numbers from the Black Friday-Cyber Monday weekend, Americans are getting smarter about how they spend that money. Brick and mortar stores suffered about a billion-dollar decrease in sales from 2014. Instead, consumers pushed online purchases to a record high.
In addition to this, sales numbers indicate earlier spending, more diversified spending and shopping carts that were more full at fewer locations. All of this points to people purchasing items they had selected before the big sales, then spending less time browsing and far less time in the harsh winter conditions.
Yes, we’re getting smarter about how we spend on the holidays. But let’s set up a plan today to be in an even better position at the beginning of the next holiday shopping season.
Step One: How much did you spend this year?
Consider how much you’ve spent this year. You can use your receipts, or you can estimate what you bought or just use the $900 per person national average.
Next, add to that how much you’ll spend in interest on credit cards while you pay off the balances. If you’d like to avoid the math, you can estimate that the total cost is $1,000, because that’s a nice round number for this exercise. (If you’d like to be more exact, use our loan calculatorr)
Step Two: Putting away that money for next year.
To use this money as intelligently as possible, it’s a good idea to save as much as possible ahead of time. That way, compound interest is in your favor instead of working against you. Start with one of our savings plans. A great option is our Savers’ Club, which you can find here, which offers good interest along with easy automatic deposits.
Step Three: Paying off this Christmas.
It’s time to get those credit card payments down so we can move into the new year with a clean ledger. If you’ve got the extra income, pay them down with that, but we also know times are a little tighter for many of us. Luckily, we have a variety of solutions for paying down credit card debt:
- Home equity loans are great for high balances, because they turn high interest credit card debt into low interest home equity debt. A home equity loan reduces the interest you pay, so you can pay off your loan more quickly. Details can be found here.
- If you don’t want a home equity loan, your credit card debt isn’t that high, or you don’t own a home, you could also consider one of our fantastic VISA credit card offerings. We offer great rates, so you can transfer your higher interest balances onto a lower interest card, which will let you pay off the debt more quickly.
Step Four: What will you do with your money?
After you’ve paid off holiday 2015, and by the time holiday 2016 rolls around, you’ll have saved more money than you need since you saved enough for this year. Interest has worked in your favor, and suddenly your next December is one in which your pockets will be full. That gives you 11 months to decide what to do with your money. Build up an emergency fund. Save for your next vacation. Get your car maintenance done on time. You have choices!
Sources:
http://www.statista.com/statistics/319562/us-consumer-spending-by-seasonal-event/
Getting Started: Account Switch Kit
Account Switch Kit
Part 1 of our series highlighting the newest and best features of our recently upgraded website, Account Switch Kit, is the final of our “Website Wednesday” posts.
A Lifetime of Difference
No one really enjoys the process of setting up accounts at a new banking institution, but the differences enjoyed with Mid Oregon as the primary financial institution makes it all worthwhile. According to the September 2015 CUNA (Credit Union National Association) Membership Benefits Report for the State of Oregon, “Oregon Credit Unions provided $115,071,182 in direct financial benefits to the state’s 1.549,712 members during the 12 months ending September 2015. These benefits are equivalent to $74 per member or $141 per member household.” While many Mid Oregon members know they save money by joining and using a local credit union, they often mention friendliness, safety, security and us being very helpful as top reasons they enjoy their relationship.
With the many great ways we benefit members, we are determined to make the process of setting up accounts as easy as possible . Our new Mid Oregon website has a tool that makes the process easier and more straightforward than before.
Three Simple Steps to Switch
Joining Mid Oregon Credit Union is not a difficult process, although members have to qualify (Generally those who live, work, worship or go to school in Deschutes, Jefferson or Crook Counties are eligible, read here for more details). Loans (Once approved) and savings or “share” accounts are generally fairly quick. Checking accounts are usually more complex and this is where the “Switch Kit” is the most helpful. Three steps are outlined:
- Open a New Membership Account. As we shared above, for Central Oregon residents this is very straightforward.
- Fill out, print and mail the forms available on the page. This is the most complex part of the process given our commitment to your security and privacy, but the downloadable Checklist keeps things straight and references the other forms available.
- Close your account at your old financial institution.
Our branch staff can walk you through the process, and our Contact Center can answer question via the phone- (541) 382-1795 or email (info@midoregon.com). But for the do-it-yourselfer, the Account Switch Kit webpage is a comprehensive guide.
Website Wednesday- Ten Mid Oregon Website Features:
- Account Switch Kit
- Easy, Safe &Secure-Online Services
- Employment: “I love the people I work with.”
- Preventing Fraud: CardNav by CO-OP
- Convenience and Accessibility: ATM Locations
- Protect Yourself: Security and Fraud Center
- Helping you find the right car at the right price-AutoSmart
- Financial Calculators
Employment: “I love the people I work with.”
Employment in Central Oregon
Part 3 of our series highlighting the newest and best features of our recently upgraded website, Employment, is our “Website Wednesday” post this week. Read about our previously highlighted features.
Mid Oregon Credit Union has long been a highly sought-after employer in Central Oregon. Having branch offices from Madras in Jefferson County, to Prineville in Crook County, to Redmond, Bend (2) and our soon to open La Pine branches in Deschutes County, we provide employment opportunities covering most of the region. Being headquartered in Bend brings additional jobs of all kinds not common in the area. Our strong community involvement also allows our staff to give back through our efforts locally, which is important to many in Central Oregon today.
Information About Employment Online
Our recently upgraded website has a great resource for those interested in working at Mid Oregon. You can catch some of the spirit of the credit union in our staff’s brief testimonials. We place a strong emphasis on how well a person fits in our organization so we live up to our longtime emphasis on job and self-satisfaction, honesty and integrity and concern for people.
A list of benefits for employees working at Mid Oregon is shown as well. Medical, dental and vision insurance, and paid sick leave are some available for full time employees. For all employees we have a 401K plan, paid vacation and many other benefits.
Interested in Working for Mid Oregon?
Available positions are shown on the page. Corporate as well as branch positions are listed when there are openings. As we have been growing steadily over the past few years, checking back periodically is a good strategy for staying abreast of the latest opportunities. Currently we have two positions open, one for a part-time Contact Center member service representative and the other for a part-time teller at our Bend Olney Street branch.
If one is interested in applying, instructions are given on the page on how to do so. A downloadable and printable employment application is available, and along with a resume and a cover letter can be mailed, faxed or hand delivered to one of our branch locations.
Would you like to become a member of the Mid Oregon team, or know someone who would? If this sounds like a good fit, go to or share this page. We are interested in hearing from you!
Website Wednesday- Ten Mid Oregon Website Features:
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- TBD
- TBD
- Employment: “I love the people I work with.”
- Preventing Fraud: CardNav by CO-OP
- Convenience and Accessibility: ATM Locations
- Protect Yourself: Security and Fraud Center
- Tools to Help You Manage Your Finances
- Helping you find the right car at the right price-AutoSmart
- Community Involvement- It’s Who We Are
- Financial Calculators