As a member-owned financial cooperative, we're in this together.
Mid Oregon Credit Union continues to monitor the situation caused by the emergence of the COVID-19 health emergency. We are making every effort to continue providing members with their most essential financial needs while minimizing risk to our members, staff and the general public.
Please hear this message from our CEO, Bill Anderson:
SBA Paycheck Protection Program (PPP) Loans
What is the Paycheck Protection Program?
The Paycheck Protection Program provides small businesses with the funds to
pay up to 8 weeks of payroll costs including benefits, rent, mortgage interest, or
Who can apply?
Small business with fewer than 500 employees (including sole proprietorships,
independent contractors and self-employed persons), private non-profit
organization or 501(c)(19) veterans organizations affected by
Are these loans forgivable?
- SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
- At least 75% of the forgiven amount must have been used for payroll.
- Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels
- Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.
- Loan payments will also be deferred for six months.
- No collateral or personal guarantees are required.
- Neither the government nor lenders will charge small businesses any fees.
- This loan has a maturity of 2 years and an interest rate of 1%.
- If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.
To learn more: www.sba.gov/paycheckprotection
Branches now available by appointment
In order to continue serving our members and protect the health and safety of both staff and members, lobby service is available to members by appointment only. We encourage you to use other remote and self-service channels to access your accounts whenever possible to ensure fastest service.
Please read our Social Distancing Policy Notice
- Online Banking and our Mobile Banking app for most transfers, bill payments, balance inquiries and check re-orders. You can even deposit a check using the mobile app! We will be processing deposits more frequently so funds should be available in your account within 3 hours for deposits made during business hours. You can click the link above to learn more and download the app, or find it at your Apple App Store or Google Play store.
- Apply online for a loan or credit card.
- Use our easy online form to request a no-fee Skip-A-Payment.
- Use our no-surcharge CO-OP ATMs to make deposits and withdraw cash.
- Try PayOnline to make any loan payment using a credit card.
- Visit a drive-up location for deposits, loan payments, and withdrawals.
- Night Drop slots for deposits and loan payments. We'll be processing your deposits more frequently, so funds made during business hours should be available in your account in most cases.
- Our Contact Center at 541-382-1795 or by email at email@example.com.
If you need to meet with someone in person, you can visit our Request an Appointment page.
Financial considerations for our members
Mid Oregon is helping mitigate the financial impact of the COVID-19 crisis on members by:
- Refunding foreign ATM fees you may encounter when using an ATM not owned by Mid Oregon, up to $10 per month, through April 30, 2020.
- Waiving fees for online and phone payments.
- Waiving early withdrawal penalties for share certificates if you should need additional access to your funds.
- Eliminating fees for COVID-19 related loan modifications and Skip-A-Payment on April and May 2020 consumer loans until further notice.
For our members experiencing a financial hardship
Mid Oregon's CARE Loan
- You can borrow up to 1 month of your monthly gross income, up to $5,000
- 3% Fixed Rate
- 48-month maximum term
- 90 days until first payment
Mid Oregon's primary purpose is to meet the financial needs of our members. If you are experiencing any financial impacts due to interruptions in your work or pay schedules as a result of this health emergency, please contact us. We have a variety of additional solutions to help you stay on track toward your financial goals, including
- Skip-A-Payment option for your Mid Oregon loans
- Short-term Emergency Loans, including our CARE Loan
- Refinance options or COVID-19 related loan modifications
- ... and more.
Please feel free to call us at 541-382-1795 or message us at firstname.lastname@example.org to discuss your options. We're ready to help!
We know you continue to have many questions, and our partners in public health have done a great job of putting together resources, including the Oregon Health Authority’s COVID-19: Frequently Asked Questions.
Up-to-date information is also available from these sources:
- Deschutes County Public Health COVID-19 page
- Deschutes County Public Health Daily Situation Update Email
- Call 2-1-1 from a mobile phone, or email email@example.com for general information
- CDC COVID-19 page
- CDC travel notice
- World Health Organization page
- SBA - Coronavirus (COVID-19): Small Business Guidance & Loan Resources