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.
Supplies 4 Schools Completed Successfully!
Donations help support students in the new school year, as Mid Oregon’s Supplies 4 Schools completed.
Significant Financial and Supply Donations
With the support of our members and the community, Mid Oregon Credit Union collected over $2,200 and several bins of school supplies for local students during its annual Supplies 4 Schools fundraiser.
Throughout the month of August, we collected school supplies and cash donations. Each of our seven branch locations in Bend, La Pine, Madras, Redmond, Prineville, and Sisters offered a bin for supply drop off, and took financial donations in person and digitally. All donations stay in the local communities where they were received.
Long Term Effort Supporting Schools and Students
“For almost two decades, Mid Oregon has helped Central Oregon K-12 students. It helps start the school year off right by providing them with the supplies they need to be successful the moment they walk into their classroom,” says Kyle Frick, VP of Marketing and Community Relations for Mid Oregon Credit Union.
Getting to the Students Who Need It Most
Mid Oregon partners with Family Access Network (FAN) to distribute supplies to students in Deschutes, Crook, and Jefferson Counties. Those students lack the necessities to succeed at school. FAN offers assistance, possibility, and hope to Central Oregon families in need. They connect them with crucial resources to help those children flourish in school and life. FAN is unique to Central Oregon, located in nearly all public schools across Central Oregon. Working through a dedicated FAN advocate, a child or parent is connected to essential services such as food, shelter, heating, health care, clothing, and more.
“FAN supported over 1,550 children with school supplies last year,” said Robyn Harmon, FAN Project Manager. “With the help from Mid Oregon’s Supplies 4 Schools donations, we will ensure each student has the tools they need to be ready to learn.”
Learn more about Family Access Network (FAN) at familyaccessnetwork.org.
Learn more about Mid Oregon community efforts.
Check-In on 2022 Financial Goals
We are more than halfway through 2022. Hard to believe, right? How are you doing with those 2022 financial goals you set on January 1? Hopefully the answer is, “right on track.” However, if you need a little nudge to set them back in motion, you can begin a fresh chapter today. Check-In on 2022 Financial Goals.
Your National Financial Awareness Day
In case you missed it, Sunday, August 14 was National Financial Awareness Day. You can’t be blamed for letting that pass by. It’s not highly publicized, and it happens in the middle of the short but significant Central Oregon summer.
So what is National Financial Awareness Day? It is a day dedicated to revisiting your finances and taking steps toward financial stability. So why not make today your personal Financial Awareness Day? If you’re looking for a little inspiration to get started, we’ve got a few ideas that’ll help you get back on track.
Spending Plan (or Budget)
• Set up (or revisit) a budget and track your expenses. Write it all down—every dollar you spend. From daily coffee to monthly subscriptions to treats for Fido, it all adds up. You can also use the spending analysis tool in Digital Banking. This tool allows members to categorize and view all of their spending in one place.
• Make sure your credit report is accurate. To better manage your money, you need to better manage your credit. You can get your credit report from several sources. You can also take advantage of Mid Oregon’s free, secure option Credit Savvy located in Digital Banking. When you enroll, you will receive anytime, anywhere access to your credit score, as well as key information from your credit report. Reviewing your credit report and score is essential to your check-In on 2022 financial goals.
• Pass on unnecessary purchases. Get disciplined by identifying needs vs. wants. Do you need that newest gadget or merely want it? Turning down something today, can mean greater financial stability tomorrow.
Grow Your Knowledge
• Increase your financial literacy. Mid Oregon provides free Financial Literacy Webinars throughout the year. They cover many topics such as Managing your Credit, Estate Planning, Social Security, Medicare ABCs, and more. Visit midoregon.com and register for our upcoming webinars.
• Explore new or different financial products. Have you considered refinancing your vehicle at a lower interest rate? What about taking advantage of the equity in your home with a HELOC? There are several product offerings at Mid Oregon which might improve your situation. Another option is to consolidate credit card debt with one of our low-interest VISA®cards. Visit us for more info on our products.
It’s never too late to take control of your finances. Whether it’s the first of the year, today or National Financial Awareness Day, Mid Oregon’s experienced staff is here to help.
Keeping Up
By Chris O’Shea*
Investments that can be inflation-proof
In May, consumer price inflation hit 8.5 percent, the largest yearly increase in more than forty years. It might be time to consider how you’re investing. Here are some moves to make so that your portfolio outpaces inflation.
Treasury Inflation-Protected Securities
As the name suggests, Treasury Inflation-Protected Securities (TIPS) are bonds that are shielded against inflation. With TIPS, the principal increases and decreases with consumer prices. TIPS pay interest bi-annually at a fixed rate that is applied to that adjusted principal. TIPS are issued at five, 10, or 30-year terms. Once they mature, you can either receive the adjusted or original principal. The danger with TIPS is that if inflation doesn’t go that high, your return with typical bonds could be better.
Commodities
Commodities — raw materials like oil, natural gas, wheat and corn — are another good investment tool to protect against inflation. As US News reports, as the price of raw materials goes up, so does the price of consumer goods. That enables you to then get a good return on your commodities investments.
Real Estate
People will always need a place to live, so real estate is a good idea, too. Just like commodities, the value of real estate tends to increase when inflation is high — although to be fair, it has been increasing a great deal over the past few years. That means is that, sure, in the short term your returns might go down, but typically real estate value returns rather quickly as the economy improves.
*This guest article is from the “Your Money Blog” in Mid Oregon’s Digital Banking Credit Savvy resource. It is made possible by SavvyMoney. “Keeping Up” by Chris O’Shea was published in June 2022.
ADDITIONAL INFORMATION
See additional articles by Chris O’Shea in the Mid Oregon View.