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.
Get Financially Fit in 2019!
Rates are heading up—check out our certificate specials and updated savings options! As we flip the calendar over into 2019, many of us are carrying a bit more weight—both literally and financially. If you’ve made the commitment to improving your health, why not get financially fit in 2019, too?
Boost Your Returns
Whether you want to create an emergency fund, save for your dream vacation, or simply build your retirement nest egg, we have updated rates and savings options to boost your returns.
- Our Saver’s Club Certificate Account helps you put a little bit away every month—perfect for getting a head start on wedding expenses, back-to-school shopping, or even holiday gifts for next year!
Make Saving Fun!
- Or, if you want to put the fun back into saving, try our Save to Win Account. You’ll be entered to win with every $25 you deposit! Then, you’ll have a chance to win monthly and quarterly prizes, including the $5,000 quarterly grand prize. Mid Oregon members have won more than $5,500 in prizes to date—you could be next!
- If you’re saving for the long haul, we can also help you find the best Share Certificate for the amount you’re depositing and your time frame—ask about our current specials!
Dealing with High Interest Debt
And if it’s time to shed the weight of that extra holiday debt, consider transferring your high-rate credit card balances to an affordable, nohidden-surprises Mid Oregon VISA Credit Card. You’ll find no balance-transfer fees and a low everyday rate will help those balances shrink even faster!
We’re here to help you. Just visit www.midoregon.com, shoot us a message at info@midoregon.com, or call 541-382-1795. We’ll be glad to connect you to the best savings or loan options to get you financially fit in 2019!
Resolve to Budget, Save and Invest
Resolve to Budget, Save and Invest in the New Year
January is a good time to take stock of your personal finances. You can make positive changes to your spending and saving habits, whether it’s making a New Year’s resolution to get spending under control, figuring out how to save for a down payment on a house, or analyzing your investment portfolio. Many people, however, don’t know where to start. In the new year, resolve to budget, save and invest.
Where are you now?
Start with a personal assessment. Ask yourself: Do you track where your money goes? Have you identified your spending leaks? Do you have a written spending plan? Do you have an emergency or rainy-day fund? Do you live within your means? Do you have written financial goals?
Know the difference
Many people think that if they don’t overdraw their financial accounts, they’re doing just fine. But that’s not the whole story. Not even close.
Having a plan for different aspects of your life is essential. Consider a plan where you:
- Budget … for short-term goals.
- Save … for medium-term goals.
- Invest … for long-term goals.
Watch Mid Oregon’s one minute video on Setting SMART Financial Goals.
Ask for help
Budgeting, saving, and investing are essential components of financial well-being, and they require different strategies. Your friends at Mid Oregon Credit Union can help you get started. Resolve to budget, save and invest in the new year. Call us today at (541) 382-1795, get started online or visit one of our 7 Central Oregon branches to help you start the New Year on the right financial footing.
Teaching Teens Financial Responsibility
When your kids were little, you frequently heard requests such as “Will you read me a story?” or “Can we go for a bike ride?” Now that your offspring have morphed into teenagers, their pleadings often involve asking for money—your money. Along with that, teaching teens financial responsibility will go a long way.
Rising To The Challenge
How can you tame their cash demands and avoid the money wrangles, while also instilling a sense of financial responsibility? Here are a few ideas:
• Make the most of “teachable moments”—Look for opportunities in your day-to-day interactions with your teen when you can slip in a money “lesson.” For instance, if you’re out shopping together, you can talk about your own shopping choices or why you’re delaying a purchase.
• Provide hands-on experience—These types of experiences have more impact for teens than just listening to you talk. For instance, have your teenager make the grocery list for the week. At the market, he’ll see for himself how big a chunk of the family budget goes toward groceries.
• Model money monitoring—Sit down with your teen to go over her list of expenditures for the week. Discuss the following: Were these wants (things that just made you feel good) or needs (things like a new jacket to replace the one that no longer fits)? How could you have spent your money differently?
Using a Debit Card?
• Introduce plastic, perhaps—You’ll need to decide if your teen is mature enough to manage a debit card. You could give your teen a Mid Oregon Credit Union prepaid debit card with a spending limit. Again, go over transactions together.
• If a Debit Card works—We not only have the free checking account, mobile app and 30,000 ATM surcharge-free network they need, but you could use CardNav℠ by CO-OP . By downloading CardNav to your smartphone, you can:
- Turn the debit card on or off
- Limit locations where the card may be used
- Set thresholds for transaction amounts
- Specify the types of transactions and merchants where the card can be used
You can also choose to receive real-time alerts:
- When the card is used in a location other than those specified by the member
- When transactions are made over, or balances fall below, a pre-set amount
- When the card is used for an unapproved transaction type.
Talking About What Will Come
• Talk about the future—What will come after high school? If it’s college, what portion of expenses will the teen have to cover? Older teens also begin to think about career choices. This is a good time to talk with them about saving for retirement. It’s never too early to have that conversation.
Let us help at Mid Oregon Credit Union. We can set your teenager up with his first debit card and a Simply Free Checking account. Getting teens established with these tools can help them learn to manage money now—while the stakes are small—so they don’t get into financial trouble later. Call us today at (541) 382-1795, visit www.midoregon.com or stop by today.