POSTED ON CASCADE BUSINESS NEWS ONLINE (CASCADEBUSNEWS.COM) BY GREGG MORRIS ON MAY 12, 2015
Over the last decade, Central Oregon has grown in both population and number of businesses. As Bend and its outlying areas continues to expand, banks and lending institutions have adapted to meet the needs of the community. For the future, local banks and credit unions see a positive trend in our economy that is allowing the institutions to take a more active role in lending as well as all other facets of banking.
Mid Oregon Credit Union
Bill Anderson, President/CEO
In 1957, eight school employees started Mid-Oregon Credit Union with a need for cooperative financial service for themselves and their co-workers. Today, Mid-Oregon is a $200 million credit union that has six locations and 75 employees providing financial services to over 24,000 members throughout Central Oregon.
Their membership is open to all persons who live, work, worship or attend school in Central Oregon. Mid Oregon partners with such local organizations as EDCO, OSU Cascades, COCC, Healthy Beginnings, The High Desert Museum, FAN, school districts, Rotary, Chambers of Commerce, Better Together and United Way to strengthen the Central Oregon economy.
Mid-Oregon’s President and CEO, Bill Anderson sees technology, security and banking flexibility as the heart of Central Oregon banking future. Technology will bring personal convenience, while security provides peace of mind. Chip cards, or EMV, incorporate additional security to credit cards, and CardNav applications provide increased control over credit and debit cards though cell phone apps. In addition, new payment systems, such as Apple Pay. integrate your accounts with your cell phone provider.
“There is and will continue to be the need to push for regulatory and legislative support for data breach legislation that holds all parties, including merchants, to high standards for protecting consumer information,” says Anderson.
Credit unions have watched consolidations amongst large banks provide efficiency for the financial institutions, but also limit the choices for consumers. Anderson also sees an improved economy leading to increased lending. Consumers feeling more secure with employment, property values, and market returns will, in turn, invest in newer cars, upgraded homes, and other financial needs, such as education.