Tag Archives: Money Management

Debt Consolidation Loans

What is a Debt Consolidation Loan?

In general, a debt consolidation loan can be defined as a loan that combines multiple debt obligations into one single loan. These loans tend to have lower interest rates than many existing debts. They also allow the borrowers to make only one payment per month instead of many.

Advantages

  • Pays off high-interest credit cards or other debts with low-interest loans
  • One easy monthly payment to make
  • A closed-end loan will result in a set payment schedule
  • May result in lower overall monthly payments
  • Establishes good credit history, if paid back as agreed

Things to be Prepared For

  • Some type of collateral may be required before approval
  • A co-signer on the loan may be required before approval
  • Credit score will be a significant factor

As you can see, there are some important factors to consider. If you are struggling with high credit card debt, you first must strive to change your spending habits and learn to live within your means. Setting a budget is the first step, and with Money Management you can know your accounts, track your budget, and watch your spending all  in one place.

It doesn’t make a lot of sense to consider a debt consolidation loan if you will be continuing to incur monthly balances on your credit cards. In the long run, you will end up having a higher overall debt balance if your spending behavior does not change.


Is it time to tackle your post-holiday debt and give your budget a breath of fresh air? Our Debt Consolidation loan offers you that chance. Connect with our Loan Specialist today at 503-275-0300 Option 2 to apply today. 

We’ve Got a New Look

We are so excited to finally bring you a better banking experience with our new Website, Online and Mobile Banking. However, we understand that this change will take some time to get used to and we are here to help you through the transition. To help you get everything out of your new banking experience, here are some tips on how to navigate the new changes, and what has changed.

First-time log in as a Bill Pay User

If you have used Bill Pay since January 1, 2017 you have been pre-enrolled in our new Online Banking system. Simply login to your account with these steps:

  • Visit Our Website and click the “Login” button in the upper right corner of the page
  • Your username is your Member Number
  • Your temporary password is the last 4 digits of the primary account holders social security number + birth year (e.g., If your social security number is 0000-00-4321 and you were born in 1936, your temporary password is 43211936)
  • Upon initial login with your temporary information, you will be prompted to select a new Username and Password
  • Complete the following instructions to confirm your additional and contact information

Registers for the first time not as a Bill Pay User

If you are not a Bill Pay User, to login for the first time you will need to follow these steps:

  • Visit Our Website and click the “Login” button in the upper right corner of the page, followed by selecting “New User” in the login window.
  • Complete the required requested information
  • Once complete you will be prompted to read and agree to the Online Banking User Agreement. If you Agree, hit the “Finish” button.
  • Upon successful registration, follow the instructions to verify your contact information via the available channels.
  • Once verified you will need to login for the first time and set up your One Time Passcode ( OTP ) delivery options. ( Note: you are required to set up at one phone number or email address to continue).
  • Once you receive the OTP, enter it into the provided box ( Note: forgotten passwords can only be retrieved via text message or phone ; email is NOT an option).
  • Next, select whether you want to register your device as private ( skip the OTP from now on using this device ) or public ( will require an OTP upon every login)
  • You are in!

What’s New?

  • Fingerprint and Face ID – Quick access to your account information on your mobile device.
  • Text Message Banking (454545) – Get the latest account balance and history information, transfer funds, receive weekly balance via text messages.
  • Customization – Hide, show, and sort accounts any way you want in Online Banking, you can control how you want to view your accounts.
  • Live Chat – Securely chat with us within your online accounts during business hours. Available in Mobile Banking too!
  • Mobile Web Banking – Full access to your account information, right from the palm of your hand! Securely view your account balances and transaction history, transfer funds, pay bills, receive notifications, live chat, and more.
  • Money Management – Budgeting can be stressful, our new money management tool will make your life easier.
  • PopMoney is now available without having to sign up for bill pay. Splitting bills has never been easier!

What is the same?

  • Bill Pay – Your payees, payment history, scheduled and recurring payments are all ready for you in the new system!
  • eStatements – If you are signed up for eStatements, you can easily view them by logging into your Online Banking and hovering over “Account Information” and selecting “Online Statements” from the drop down menu.

Questions?

We are here to help you through this exciting transition, as we know sometimes change isn’t easy. Please do not hesitate to call us, visit our branch, or send us a secure message.