Assistance to those affected by Wildfires
Help is on the way for affected members, as we have recently introduced the Fire Assistance Relief Emergency (FARE) Loan. The FARE loan is available to members affected by Oregon’s wildfires.
The FARE loan offers the opportunity for members to borrow an amount up to their monthly gross income, with a limit of $5,000. For the life of the loan, there is a 3% fixed rate and a 48-month maximum term. Borrowers have 90 days before the first payment is due. To apply for a FARE loan, visit this link, or contact one of Mid Oregon’s seven locations in Bend, Redmond, Madras, Prineville, La Pine, and Sisters.
Extreme Fire Damage
By the end of last week, 36 active wildfires had burned nearly one million acres throughout the state of Oregon., according to the Oregon Office of Emergency Management (OEM) Fires and Hotspots Dashboard. Last week, Oregon Gov. Kate Brown said more than 40,000 Oregonians had evacuated their communities, and an estimated 500,000 people statewide were under some level of evacuation orders because of wildfires.
“We are saddened by the wildfires’ destruction of communities here in Oregon,” says Kyle Frick, VP of Marketing for Mid Oregon Credit Union. “With FARE, we hope to offer some relief to members affected by the wildfires. That is what a credit union does, people helping people.”
Partnering with American Red Cross
Mid Oregon has also partnered with the American Red Cross of Central and Eastern Oregon on a webpage where community members can make financial donations to support those in need from the wildfires. So far, our members and staff have contributed almost $10,000 through this resource, and the donations keep rolling in. We are so proud of this outpouring of care from the Mid Oregon member community.
Last week, this message from the Red Cross highlighted the extreme need for resources to support those hit hard by these wildfires:
“We have opened six shelters across the state, but the majority of our clients are staying in non-congregate hotel sheltering due to COVID-19 – a significant expense. Last night our shelter population doubled from the night before to 938 in hotels and 103 in congregate sheltering. These numbers are projected to increase as the need demands this week.
“The Red Cross is also providing meals, snacks, health & mental health, spiritual care to many hundreds more. Damage assessment, client casework, and additional financial assistance to families will begin in the days ahead. At this time, this disaster response is projected to cost around $1,000,000, and we must meet these needs!”
Please consider making a donation on this Red Cross webpage.