Your Voice, Our Future: An Important Vote for Mid Oregon’s Next Chapter
I am excited to announce an important proposal that will help shape the future of Mid Oregon. On October 10, we will hold a Special Meeting to discuss converting Mid Oregon from a federal credit union to an Oregon state-chartered credit union.
This strategic move is designed to enhance your credit union experience and strengthen our position in the communities we serve.
WHY THIS MATTERS FOR YOU
- Expanded Growth Opportunities: A state charter enables us to grow beyond the Central Oregon market, offering our members better value, competitive products, and enhanced services.
- Modern Governance: The conversion promotes modern governance, helping us attract top-tier directors for our complex operations.
- Greater Flexibility & Parity: We gain expanded authority under the Oregon charter while retaining benefits of our federal charter through state “parity provisions.”
ARE THERE ANY DOWNSIDES?
- We do not anticipate any disadvantages or adverse changes to the services and benefits you currently receive as a member.
- Your accounts will continue to be insured by the National Credit Union Share Insurance Fund (NCUSIF) up to $250,000, just as they are now.
- The estimated cost of this conversion, covering various fees and changes, is approximately $130,000.
YOUR VOTE COUNTS
Your vote on this proposition is crucial. In September, you will receive a ballot along with further information regarding the charter conversion in the mail. We ask that you complete and mail your ballot, or deliver it to one of our eight branches, no later than October 7. Your support is appreciated as we embark on this exciting journey to create an even stronger, more adaptable, and competitive Mid Oregon for the future.