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.
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.
Duck Race Kicks off June 29
Yes, it’s time! The Great Drake Park Duck Race kicks off June 29, with ticket sales again being sold in-person as well as online. Mid Oregon Credit Union is again one of the title sponsors under the “Credit Unions Working Together” banner.
Tickets Sold In Person & Online
Tickets for the Duck Race go on sale June 29. This year marks the 33rd consecutive year of local Rotary clubs, businesses and community members raising much-needed funds for local non-profit organizations. The Duck Race has raised nearly $2 million since it began in the late 1980s.
The Duck Race Back On September 11
After a two-year hiatus, the ducks are back and eager to race down the river on September 11, although ticket sales for the Duck Race kicks off June 29. This year we will be selling tickets in person as well as online! Duck race raffle tickets are $5 and can be purchased at First Community, Mid Oregon, OnPoint, and SELCO Credit Union or online at www.theduckrace.com. Local Rotarians and the Duck mascot will also be out in the community promoting ticket sales throughout the summer. Look for them at familiar venues such as Newport Avenue Market.
Twenty prizes with total value over $18,000 will be raffled, including the Grand Prize of $5,000 cash! Additional prizes include a Hoodoo Ski Area season family pass, diamond earrings from Saxon’s Fine Jewelers, and much more.
Fundraiser directly supports local community charities
2022 ticket sale proceeds will benefit the Boys & Girls Clubs of Bend, Central Oregon Veterans Outreach (COVO), Deschutes Children’s Foundation, and MountainStar Family Relief Nursery.
Many Local Organizations Are 2022 Prize Sponsors
The Great Drake Park Duck Race is presented by local Rotary clubs and sponsored by Credit Unions Working Together (First Community, Mid Oregon, OnPoint, and SELCO Credit Union).
2022 prize sponsors include Bend Heating & Sheet Metal, Cascade Insurance Center, Century Insurance, Compass Commercial, Hoodoo Ski Area, Hutch’s Bicycles, Johnson Brothers Appliance, K1 Speed, Les Schwab, Miller Lumber, PacificSource Health Plans, The Pennbrook Company, RBC Wealth Management. Saxon’s Fine Jewelers, Stereo Planet, Webfoot Painting, Zivney Financial Group. Media and other sponsors include Bend Parks and Rec, Bend Radio Group (Mix 100.7, KSJJ 102.9, Power 94, 92.9FM, Backyardbend), The Bulletin, Cascades Business News, Central Oregon Daily, Combined Communications (99.7 The Bull, KBND, 107.7 The Beat, 98.3 The Twins, 101.7), News Channel 21, Smartz, Source Weekly, and Wahoo Films. In-kind support includes Carlson Sign, Sign Pro, and Xpress Printing.