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.
Create A Strong And Unique Password
Most of us know by now not to use the same passwords for different accounts. Yet some of us still do. But users who continue to use passwords they know have been exposed in a hack are truly flirting with danger. In a recent study, Google found 1.5% of passwords are still being used despite those users knowing they’ve been compromised. There’s no shortage of mega breaches and hacks in the news that expose countless passwords and other data. But many password users don’t heed the warnings. A security researcher discovered more than 22 million unique passwords and over 770 million email addresses were made public on a popular hacker forum earlier this year. The massive discovery is believed to be the largest data dump to date. With numbers like these, it’s no secret that continuing to use exposed passwords puts those users at risk of being exploited yet again. Here is how to create a strong and unique password.
Most of us wouldn’t hand our car keys to a car thief, but reusing compromised passwords may be doing just that. Hackers who get passwords from data dumps or buy them on the dark web have the keys to enter sensitive accounts. Data breaches result in hacked passwords. Those passwords give access to an account. And that access can lead to the theft of other PII (Personally Identifiable Information) like bank and credit card information. Those who reuse the same compromised passwords for different accounts can also become victims of credential stuffing. Hoping to access even more accounts, hackers “credential stuff” stolen passwords. They do this by trying them on other accounts belonging to the same user. Since this type of hack is on the rise, so are the opportunities a hacker has to steal even more PII. Either way, reusing passwords involved in a hack or breach can be a lose-lose situation.
Password Protection
Change passwords immediately after finding your account may be exposed in a data breach.
- Use strong and unique passwords for each account and change them regularly. Include letters, numbers, and special characters.
- Use two-factor (2FA) or multi-factor authentication (MFA) when available, as they provide additional layers of security when logging-in.
- Keep passwords to yourself and don’t share them.
- Be aware if of others watching when you type a password and always logout, and close the browser window if applicable when done.
- Check password strength, if a website offers a strength analyzer when creating an account.
- Avoid using passwords with unsecured Wi-Fi as they can be intercepted and stolen.
Create a Strong and Unique Password
Need a tip for creating passwords you can remember? Try creating a base password of at least six characters. Then add some characters from the related website to that to create your password. For example, if the base password is “XP2#z%” and your account is at acme.com, your password for that account would become “XP2#z%Ac” using the first to characters of the website on the end.
Teach It: Studies Show Financial Education Pays Off
By Chris O’Shea* The results are in: Giving kids early financial education pays off in smart money decisions down the line. In one study, from the National Endowment for Financial Education, kids who participated in financial education courses made better choices when it came to paying for college.
The study found that students who took financial literacy courses from an early age were more likely to apply for low-cost loans and grants to help pay for college. They also were less likely to use private loans or carry high-interest credit cards. As MSNBC reports, this finding is important for a couple reasons. First, the report shows financial education can help young people avoid crushing student loan debt. The study is also important because other studies have shown that when students are aware of higher education payment options, they’re more likely to attend college.
The connection between financial education and smart money moves isn’t limited to paying for college. In one study, kids who were taught financial courses had higher credit scores. In another report, a positive correlation was found between teenage financial literacy and net worth.
Adults aren’t off the hook either. Multiple reports have found that the more financial literacy adults have, the better money moves they make. Adults with high financial literacy are more likely to make timely loan payments and less likely to have high amounts of debt. Clearly, there is little downside to teaching and focusing more on financial education.
*This guest article is from the “Your Money Blog” in ‘Mid Oregon’s Digital Banking Credit Savvy. resource’. It is made possible by Savvy Money. “Teach It: Studies show financial education pays off” by Chris O’Shea was published in April 2021.
Your Current Home = Your Dream Home with an Equity Line of Credit!
With an Equity Line of Credit from Mid Oregon Credit Union, your dream home might be closer than you think!
You’ve probably spent plenty of time in your home in the last year, and you may have left you wishing it was more—more spacious, more functional, or more updated.
Home values on the rise
With the tight housing market, prices rising, and so many people looking to move to our area, finding your “forever” home might be a real challenge. Consider growing where you’re already planted. You may have more equity than you realize to make big changes to the home you’re in now. No moving van needed!
Update with a Home Equity Line of Credit
Whether you’re adding square footage, or simply improving functionality, Mid Oregon can help with a Home Equity Line of Credit.
- Rates as low as 4.250% APR* based on your credit qualifications and the amount of equity you have in your home.
- Advance what you need for your project, as you need it.
- Borrow up to 90% of your home’s available equity.
- Local service and fast approvals, in person or online.
Get started now with our easy, secure online loan application at midoregon.com. Or, save time by logging into your account on Digital Banking and clicking the Quick Apply widget.
If you’re looking to re-finance your current home loan, want to purchase bare land, or managed to find your dream home after all, we can help you there too! Check out our blog on home loan refis and visit our Home Loans page to see the latest rates and apply. Or ask to speak to the Home Loans team when you stop by or call.
*Rate shown is Annual Percentage Rate and is subject to change without notice. Range of rates 4.250%-4.750% based on credit qualifications, loan amount, real estate type, and lien position. Closing Costs for Home Equity Lines of Credit—Other third party costs may apply, please ask for details and disclosures. The estimated costs will generally total between $240.00 and $1,395.00, depending on the amount of your loan or credit limit, and the placement of the Lien. Typical closing cost is about $400. Equal Housing Lender.