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.
5 Reasons Credit Unions Offer the Best Auto Loans
Best Auto Loans at a Credit Union?
The average cost of a new vehicle today is around $37,000.
The purchase of a car likely will be the second largest expenditure you have, second only to the purchase of a home. Whether you desire the shiny, brand new one, or if you are content with finding a reliable used one, we want to help you to get the most for your money.
Five Reasons You Want To Talk To Us
Here are 5 reasons credit unions offer the best auto loans, and it makes more sense to get your loan through us.
1. We provide personalized service. Because they are non-profit organizations and work to provide members with high-quality customer service, policy decisions are made by a group of volunteer board members rather than a corporate office. You can openly discuss your concerns about your loan, talk about flexible repayment options, and review your financial situation with a professional lending officer. This can alleviate some of the pressure of applying and securing financing for your vehicle and you can be more confident that the credit union is working with your best interests in mind.
2. We offer educational resources. Many credit unions will provide information such as financing options and how to make the best decisions when assessing the value of your car purchase. If you’re a first-time car buyer and apprehensive about the loan process, you can turn to a credit union for unbiased answers.
3. We offer a non-sales approach. Unlike some other financial institutions, which often give their lenders bonuses or some type of compensation for the loans they get approved, credit unions, as not-for-profit financial institutions, work for their members and do not try to sell you something you don’t need.
4. Getting Approved. With us, you have a better chance of getting your loan approved. Even though the loan application process is the same and the underwriting process is similar, the credit union may make some adjustments that a commercial bank would not. Many credit unions are also more inclined to listen to its members’ needs and unique situations—sometimes adjusting terms of a loan accordingly. A recent CreditKarma.com article mentions better approval odds at credit unions: “One of the perks of credit union membership is that credit unions may be more willing to work with members with less-than-perfect credit.”
5. We have lower rates. A five-year term is the most common loan term for a new or used car, and rates at a credit union are typically much lower than the average rate at a competitor bank. The savings in interest alone is a major reason to consider this financing. In 2019, financing a $25,000 new automobile for 60 months at an Oregon credit union will save members an average of $126 per year in interest expense compared to what they would pay at a banking institution in the state. Just think of what you can do with that money.
Members Benefit From Our Earnings
The bulk of a credit union’s profits go back to members in the form of lower rates on financial products and more flexible loan options. If you don’t like the pressure of working with lenders from other financial institutions, a credit union is the answer.
To find out more, call us at (541) 382-1795, email us at info@midoregon.com or visit one of our Central Oregon branches. Or, you can start your auto purchasing journey with our online application. We hope you experience the 5 Reasons Credit Unions Offer the Best Auto Loans…with us!
Supporting Central Oregon Through Holiday Dough
Holiday Dough Helps Provide
The holiday season can be very difficult for many local families. The weather changes, and just having enough food can be a major concern. Mid Oregon Credit Union, along with other local businesses and organizations, has provided a way for our members- and the community- to help: Holiday Dough.
Our Holiday Dough fundraiser helps to provide holiday meals and food assistance to local families in need. Each of our branches has chosen an organization in their communities which helps fill this need.
Building on a successful 2018
We are encouraging the communities we serve to join us for the annual Holiday Dough Fundraiser in every Mid Oregon branch. These local charities provide food, clothing and shelter for individuals and families in the greatest need during the holidays.
Giving back to the community is a core value of Mid Oregon Credit Union, aligning with our credit union philosophy of “people helping people”. . In 2018, we almost DOUBLED the amount we raised the previous year—a total of more than $3,500. Who knows what this year will bring? With the continuing generosity of our members, we are hoping that support will be even greater in 2019.
Donations Stay in their Community
You can stop by any of our seven Central Oregon branches to donate to Holiday Dough through Friday, December 6, 2019. All contributions will stay in the community where they are collected and 100% of the donations will benefit these local agencies:
• Sisters Kiwanis Food Bank – Distributing more than 60,000 pounds of food annually and helping more than 100 families each month, the Sisters Kiwanis food bank offers a shopping-style food pantry to patrons. Donating at Mid Oregon on 703 N Larch Street will provide much needed funds for this holiday season’s needs in Sisters.
• Jericho Road in Redmond, Providing hot meals, food packs, rental and emergency assistance to those in need in the Redmond area. Our SW 17th Pl. branch contributions, which this year we celebrated its 20th Anniversary, will support Jericho Road.
• Crook County Holiday Partnership (Prineville), providing holiday support to seniors, children and families in need in Crook County. Last year over 650 Crook County children received holiday gifts of clothing and toys, Nearly 500 Senior and Disabled persons received clothing and gifts.
• Jefferson County Food Bank (Madras), supplying food to families and individuals. Bring your financial support to our Madras Branch on SE 5th St. (Highway 97 North).
• La Pine Christmas Basket Association, providing food during the Christmas holiday for people in the South Deschutes County area, supported through contributions at our Huntington Rd branch.
• The Giving Plate of Bend, coordinating the Monthly Food Box program, Grab & Go Pantry, Kid’s Korner food bank, and Backpacks for Bend. Donations made at our Olney St. and Cushing Dr. locations in Bend will benefit The Giving Plate.
People Helping People
As mentioned, you can make your donation in any branch or by phone. Your contributions stay in your local community, ensuring that your neighbors have a brighter holiday season.
Mid Oregon’s Day of Community Service
Columbus Day Holiday Provides Opportunity to Support Local Nonprofits.
Traditionally, Columbus Day falls within the list of “banking holidays” observed by financial institutions—it represents a day off for employees, but not much more. For our 125-plus employees at Mid Oregon Credit Union, however, Columbus Day 2019 was a rare opportunity to serve our communities in more ways than funding loans and processing deposits: A day of community service.
While our seven branches were closed on Monday, October 14, the Mid Oregon team still reported to work—trading business attire for t-shirts and work boots as we deployed throughout the region to serve our community in projects ranging from clearing invasive species for a local veteran’s ranch to purchasing needed supplies for homeless expectant mothers.
The Drive to Give Back
“One thing that sets credit unions apart is our commitment to the communities we serve, and we tend to attract employees who have the same drive to give back,” says Kevin Cole, Mid Oregon Executive VP. “Our employees have been asking us for an opportunity to do more to connect with their local communities, and this was the perfect time for us to make this happen.”
A total of 10 branch and department teams chose a local organization to work with on a service project or supply-gathering effort, and the credit union supplied each team with a budget to purchase needed supplies or equipment to complete the project. After a morning of team-building and training for the entire staff, each team assembled in the afternoon to work on their local community projects.
Serving Around Central Oregon
As Mid Oregon is headquartered in and serves only Central Oregonians, our entire staff was focused on Central Oregon organizations. Our branch locations in Bend, Redmond, Madras, Prineville, La Pine and Sisters provided the starting point for our day of community service.
Team Community Organizations and Activities:
TEAM 1 Bend: Grandma’s House– Installing storage shelving and tubs, reorganizing a storage shed, assisting with garden cleanup.
TEAM 2 Bend: MountainStar Family Relief Nursery– Deep cleaning and organizing classrooms, purchasing and delivering needed supplies.
TEAM 3 Bend: Boys & Girls Clubs of Bend– Leading an activity on financial literacy, providing donations for prizes and operating expenses.
TEAM 4 Madras: Jefferson County Meals on Wheels/Jefferson County Senior Center: Gift bags for all Meals on Wheels recipients with warming items, toiletries, small gifts and activities (puzzle books, games).
TEAM 5 La Pine: La Pine Senior Activity Center– Repainting bathrooms.
TEAM 6 Prineville: Family Access Network (FAN)– “Food for Kids” program- Collecting additional groceries and donations at Ray’s Food Place, purchasing food for weekend backpack meals for local kids.
TEAM 7 Bend: Saving Grace (assistance for survivors of sexual assault)– Fundraising, donating to support the services offered through Saving Grace.
TEAM 8 Bend: Bend Park and Recreation– Park Cleanup (raking, mulching, picking up litter and dog waste).
TEAM 9 Redmond: Central Oregon Veterans Outreach (COVO) and Central Oregon Veterans Ranch– Making donation to COVO of funds and supplies collected in the branch, spending the day removing invasive weeds from future livestock/pasture at the ranch.
TEAM 10 Sisters: Family Access Network (FAN)/ Sisters School District Admin Offices– Donating funds for emergency fund gift cards, winter gloves and hats, and helping to organize two storage rooms containing emergency supplies for homeless families.
