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.
Understand Financial Aid Definitions
Understand Financial Aid Definitions- a Glossary
The terminology used in college financial aid award letters can be confusing. Here’s a quick guide to some frequently used terms, some financial aid definitions:
Cost of attendance: The total price of going to a particular college. It includes tuition, fees, room, board, books, supplies, meal plan, and other living expenses, such as transportation.
FAFSA: The Free Application for Federal Student Aid tells you, based on your family’s income and expenses, what you’re expected to pay out of pocket for your son or daughter’s first year of college.
EFC: Expected Family Contribution, or the amount you and your student are expected to pay out of pocket for his or her first year of college.
Grant: An amount awarded for financial aid, either from the federal government (federal grant) or from a college (institutional grant) to attend that college. A grant is “free money,” meaning you don’t have to pay it back.
Institutional scholarship: Free money you don’t have to pay back that a college offers you to attend that school for the coming year. These scholarships can be merit-based (awarded because of your accomplishments in academics, a sport, music, or another area) or need-based (to supplement your EFC).
Private scholarship: A scholarship you apply for from an outside organization.
Pell Grant: Need-based free money from the federal government.
Stafford Loan: An amount of money a college will allow you to borrow from the federal government at an interest rate the government sets. These can be subsidized (no interest accrues—is added to the balance—while the student is in college) or unsubsidized (interest accrues while the student is in college).
Parent PLUS Loan: An amount of money a college will allow parents to borrow from the federal government, at an interest rate the government sets, for their son’s or daughter’s coming year of college.
Private loan: An amount of money parents or students can borrow from a financial institution—if they’re credit-worthy—for the student’s coming year of college. The financial institution sets the interest rate. Unlike federal loans, you have to make payments on private loans while the student is in college.
Work study: An amount of money a college will pay a student for working at a qualifying job at that college. The student must find and apply for his or her own job.
Still Focused On Serving You
We are still here to help you.
You and your family may be worried about the impact on your lives of the coronavirus disease (COVID-19), but the leadership at Mid Oregon Credit Union want you to know we are here for you as we always have been. Your deposits are safe and insured. We’re not going anywhere, because at its core, our credit union is not a building or a business, it’s people unified for a common goal.
Here is an audio message from our CEO, Bill Anderson
Your accounts are safe and insured–and safer than cash
There are a lot of things to worry about these days, but the safety of your money in your credit union isn’t one of them. Your money is safe, and your accounts are fully insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000, with additional coverage provided for different ownership interest and account types. There is no risk to keeping money in your account, but there are countless risks to holding cash. More and more, local merchants are turning to electronic payments, including debit cards, to keep their staff protected from the risks of handling cash.
COVID-19 has cancelled, postponed, and slowed down much of American life, but the nation’s financial system operations are still strong. You can meet nearly all of your financial needs without leaving your home.
If you’ve been impacted by this pandemic, our staff is dedicated to working with and helping you through these uncertain times. Now, more than ever, we are here to support our members. Whether it’s waiving fees on skip-a-payment requests, an emergency loan, or posting your mobile deposits more frequently throughout the day, we are working hard to meet your financial needs. Find information on the steps we’re taking at our COVID-19 Information page.
Use caution and minimize social interaction
Health professionals say if you must leave your house, use an abundance of caution and observe the social distancing rules put in place by government officials. If you need to visit us in person, we encourage you to make an appointment, or our ATMs and drive-through lanes are a great option to access your cash. Of course, our digital options are always available 24 hours a day for transfers, mobile deposits, and bill payment. And if you need to speak with someone, you’re welcome to give us a call at 541-382-1795.
Please read Mid Oregon’s Social Distancing Policy Notice.
We’re here if you need any additional assistance
You can visit our COVID-19 Information Page for information on measures we’re taking to ensure your safety and the safety of our team. If you want to learn more about COVID-19, visit the CDC’s resource center or the Oregon State Health Authority COVID-19 Updates page. Please take care of yourself and those around you and do not hesitate to contact us for any assistance.
Branch News: Improved views thanks to young local artist
Student from Redmond Proficiency Academy transforms Redmond Branch lobby
Since we’re not able to invite our community in for the grand unveiling, we thought we’d bring the art to you! Over the past couple weeks, our Redmond branch has been visited by a talented local young artist. Lily Y., a student at Redmond Proficiency Academy, has undertaken a special project to paint the cupola in the center of the branch lobby (in keeping with all social distancing and safety requirements, of course.)
We absolutely love our new artwork and we’re very proud of this creative young person and her beautiful depiction of everything that makes Central Oregon unique. Thank you for your work, Lily!
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- Lily beginning her project at the Redmond Branch
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- Outlines of mountain peaks
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- Green mountainsides and hills emerge
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- Adding color, depth and shadows
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- Local landmarks get center stage.
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- Finishing touches.