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SELCO Newsletter

Coverage Connection
2021
- Spring 2021
2020
- Fall 2020
- Spring 2020
2019
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2018
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2017
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2016
- Fall 2016

July 2021

Buying Your First Home: A Realistic Guide

Interest rates remain low. The competition is fierce. Supply is lagging demand. These factors are posing great challenges for consumers looking to buy their first home. But it can happen if you know what you're getting into. To help, we've put together this guide to buying that first home. While you're at it, you'll need ...

Homeowners Insurance: What You Need to Know

Securing homeowners insurance is a crucial step when buying your first home. Find out what is and isn’t covered so you can enjoy your new home for years to come.

Carvana: An Online Car-Buying Nirvana?

Carvana, an online-all-the-time used car retailer, is all the rage these days. Check out a few pros and cons about this relatively new phenomenon and ways SELCO can help you have a great experience.

What to Know About ‘Buy Now, Pay Later’

Remember the rent-to-own craze? A relatively new service called “buy now, pay later (BNPL)” takes the concept one step further. Find something you like, “buy” it, then pay for it later. But is there a catch?

Refi Your Ride, Get 2% Cash Back

For a limited time, refinance your car, truck, or SUV loan with SELCO and we’ll give you 2% back in cash to do with whatever you please. You can even roll it into your new loan.

Join Our Team!

Yep, we’re hiring, and we have a variety of job openings to choose from. Find out if our fun, supportive, member-focused work environment is the right place for you.

May 2021

It’s Time to Create Your User ID

A personalized user ID will soon be required (replacing your member number) to access online and mobile banking, so if you haven't already done so, it only takes a minute to set one up. A unique user ID adds an extra layer of security to your accounts.

Legacy Planning: Passing on the Story of You

Your legacy is much more than the material things you pass on to your heirs. Legacy planning gives you the opportunity to create a lasting gift by telling your story to future generations.

6 Steps to Prepare for Your (Financial) Future

It's never too early to start planning your financial future. From paying down debt to creating and following a budget, there are several ways to get prepared.

Celebrate the 2021 SELCO Scholarship Recipients!

We are proud to award over $52,000 in scholarships this year! To celebrate our recipients and their achievements, join us in a virtual ceremony on Friday, May 14 at 2:00pm on Instagram.

10 Tips for Fortifying Your Passwords & Usernames

We all do it: Use familiar usernames and passwords over and over, all across the internet. But check out these tips for securing your information with hard-to-guess phrases.

Medicare 101: Your Questions Answered

Are you left scratching your head trying to figure out Medicare? Let us help you decipher the inner workings of this complex insurance.

March 2021

Be on Lookout for COVID-19 Vaccine Scams

As various COVID-19 vaccines are being distributed to the masses, a variety of new scams have risen to the surface. From offers to “cut the line” to fake medical professionals, these scams are rampant to start 2021.

Paying Off Debt: Snowball vs. Avalanche

Need to get out of debt? Focusing on one debt at a time, the snowball and avalanche methods start with your smallest balance and highest interest rate, respectively. Both methods are all about small wins along the way.

Sign Up for Mobile Banking Codes via Text

SELCO’s mobile banking app now has an extra layer of security. You’ll now occasionally be asked to enter a one-time security code when logging in. To receive these codes by text, simply sign up for text banking or text alerts. If you’ve already signed up for either of those services, you’re all set!

SELCO Scholarships

It’s that time of year again when 20 worthy high school seniors will be awarded a $2,500 SELCO Scholarship. Applications are being accepted through March 31, 2021.

Medicare 101 Webinars

SELCO Insurance Services is hosting free one-hour Zoom webinars monthly throughout 2021. The next ones scheduled are on March 23 and April 29. In these sessions, learn about the basics of Medicare and your options.

Friendly Warning: Tax Season is ‘Fraud’ Season

Tax season is high season for scammers and their fraudulent ploys. Phishing emails, phone scams, and criminals attempting to steal your stimulus payments are a few tactics to be aware of while you’re preparing your taxes.

New Self-Service Resource Center

We’re excited to announce that a more robust, easy-to-navigate Self-Service Resource Center is now available to our members. The new and improved (and always evolving) SSRC is a hub for members to become experts at using SELCO’s ever-growing suite of digital tools.

January 2021

Demystifying Financial Terms: APR & APY

Trying to understand APR and APY can be confounding. They aren't simply interest rates but something far more complex. Let us help you figure them out.

What's New with SELCO's Digital Services?

SELCO's digital services continue to evolve with the times. Check out the latest enhancements to online and mobile banking that will help you manage your finances on the go.

7 Visa Card Features That May Surprise You

A credit card is much more than a piece of plastic used to buy cool stuff. Credit cards offer several benefits you may not even be aware of. Here are seven.

New Year Jumpstart Guide

Get 2021 off on the right foot with SELCO’s New Year Jumpstart Guide. Review your contact information, maximize your retirement contributions, and mark your calendars for receiving your tax forms.

Buying A Home During Winter

The real estate market may cool during winter, but if you know how to overcome the challenges and optimize the advantages, you can walk away with a hot deal on a home during the coldest time of year.

Recreational Vehicles Made for Winter Adventure Seekers

The weather may be colder, but that doesn't mean the adventure needs to end. If you're itching to get away, maybe it's time to go to the snow with a snowmobile, ATV, or RV.

November 2020

Should I Use My Retirement Funds for COVID Relief?

Under the CARES Act, Congress relaxed rules for withdrawing funds from your retirement plan during 2020. Contact your financial advisor to see if this special distribution makes sense for your situation.

Do It Yourself or Hire A Pro?

Some home-improvement projects are best left to the professionals. But for others, a little sweat equity could mean considerable savings. Let us help you make the DIY vs. The Pros decision.

What Does Value Mean When It Comes to Banking?

In this year like no other, people are looking for value around every corner. There’s a lot to be said for the value of a local relationship. How does SELCO provide value? Let us show you.

Telematics: Rewarding Safe Drivers Through Technology

If you diligently practice safe driving habits, you could potentially pay less for your auto insurance. Telematics-based insurance rewards safe drivers by setting premiums based on how you actually drive, not how you’re likely to drive.

Stay (Financially) Safe During the Holidays

Despite the economic downturn caused by the COVID-19 pandemic in 2020, the holiday shopping forecast calls for a “mild increase” in sales over last year. Not surprisingly, much of that will occur online—all the more reason to exercise caution.

Wildfire Assistance

If you are a current SELCO member and have been affected by the wildfires across the western half of the United States, we encourage you to take advantage of our assistance options.

September 2020

Is It Time to Refinance Your Auto Loan?

Did you know you can refinance a vehicle loan? Under the right circumstances, you could enjoy considerable savings by restructuring your loan.

3 Benefits of Using Mobile Check Deposit

Need to deposit a check and don’t want to drive to your local branch or ATM? SELCO’s mobile check deposit feature is convenient, secure, and simple.

SPARK! Grant Application Period Is Open

It's time again for educators all over Oregon to submit their proposals for a SPARK! Creative Learning Grant. Applications will be accepted September 15 through October 31.

6 Apps to Help Kick-Start the School Year

As your children get back in the swing this fall—in person or remotely—give them a head start with these organizational schoolwork and financial literacy apps.

Fall: The Sleeper Season for Home Buying

While people don’t typically associate autumn with home buying, it can be less competitive, less frantic, and more flexible than the peak seasons.

Your College Buying Guide

College will look decidedly different this fall. To prepare, check out our College Buying Guide for tips on what you will and won't need during what likely will be a short time on campus.

Medicare Webinars & Open Enrollment

If you’re new to Medicare or need to make changes to your existing plan, SELCO Insurance Services is here to help. Sign up for an upcoming Medicare 101 webinar or join us for open enrollment.

July 2020

Understanding VA Loans

Are you a veteran looking to buy your first home or upgrade your current living situation? How does no money down and a low interest rate sound? A VA loan is one of the more significant benefits provided by the US Department of Veterans Affairs.

Protect Yourself from Unemployment Scams

Since the COVID-19 pandemic reached the United States, millions of Americans have filed for unemployment benefits. To add to this crisis, con artists have been waiting in the weeds. Protect yourself from fraudsters by following these tips.

Student Loan Relief: Keep Paying or Hit Pause?

Do you have student loan debt? If you haven’t heard, the CARES Act features a student loan forbearance period. Through September 30, you can either pause your payments or enjoy principal-only payments.

Self-Service Resource Center

Our Self-Service Resource Center is your one-stop shop for instructions and tips on everyday banking tasks. Learn how to open a new account, enroll in online or mobile banking, apply for a loan, and so much more.

SELCO Sweeps

Are you enrolled in eStatements? You could win $100 in July as part of the SELCO Sweeps Go Paperless Challenge. If not, you can still sign up for your chance to win. Watch for future SELCO Sweeps as we find more ways to reward our members for choosing and using SELCO.

Medicare 101 Webinars

Are you new to Medicare? SELCO Insurance Services is holding four informational webinars in August. Licensed and certified sales agents will explain the ins and outs of Medicare and answer all your questions.

Your Personal RV Buying Guide

Eager to get out of the house? Traveling in a recreational vehicle has never been more attractive, not to mention one of the safer modes of transportation. Check out this guide to see which RV type fits your style and budget.

May 2020

We've all been affected by the COVID-19 crisis, from small ways (like keeping our kids engaged) to big (like staying on top of loan payments). But no matter how you've been impacted, we're by your side. See how in this month’s newsletter.

Getting Through the Tough Times Together

If your personal income or normal business operations have been disrupted by the pandemic, SELCO has programs in place, and specialists at the ready, to help you navigate the situation.

SELCO Digital Access: Secure, Quick, and Safe

It’s more important than ever to take advantage of our many digital tools. If you’re unfamiliar with them, see how these resources are a one-stop shop for securely managing your accounts without leaving home.

Loose Change Stack-Up

Looking for a fun activity for your kids? The Loose Change Stack-Up teaches youngsters—best for ages 3-7—how to count change as well as the value of earning money.

Is Now the Time to Refinance?

Despite market volatility causing mortgage interest rates to rise and fall daily, it still may be the perfect time to refinance your loan. See if refinancing makes sense for you right now.

COVID-19 Member Information Center

For the latest news, resources, and ways that we’re evolving our services during this crisis, please visit our COVID-19 Member Information Center. We also frequently update our Facebook and Twitter feeds.

March 2020

Time to Refinance to a Shorter-Term Mortgage?

Mortgage interest rates are at historic lows. If you’re able to afford a higher payment each month, refinancing to a 15-year mortgage can make good financial sense.

Tax Season Is ‘Fraud Season’

Be on high alert for fraudulent ploys this tax season. Phishing emails, phone scams, and inflated refund claims are but a few tactics to be aware of while you’re preparing your taxes.

Unexpected Expenses of Owning a Pet

Thinking about getting a pet? Be sure to factor in unexpected expenses of pet ownership before bringing your new best friend home.

Applications Being Accepted for $2,500 Scholarships

Our annual scholarship program is in full swing. If you’re a high school senior looking for ways to help pay for college tuition and books, apply today.

Tax Information at Your Fingertips

From information on IRA distributions to HSA contributions, find out when your various tax forms will be mailed to you or available in electronic form.

Beware Card Fraud by Phone

A small number of SELCO members recently received fraudulent calls that appear to come from SELCO’s 800 number.

January 2020

App Update Brings Even More Mobile Banking Capabilities

SELCO's latest mobile banking app update has fresh features for everyone. Included in the new version are multi-account access, more visible routing and account numbers, mobile push notifications, and more.

10 Financial New Year's Resolutions for 2020

The calendar has turned to a new year (and decade). What better time to get your "financial house" in order. Use this guide to make sound financial resolutions for 2020 and beyond.

What Does It Mean to be A Credit Union Member?

Being a credit union member-owner has many benefits, not the least of which is a commitment to co-operative values. When credit unions profit, so do you.

P2P Payment Systems: What You Need to Know

The world of peer-to-peer (P2P) payment systems has exploded. Venmo, PayPal, and Apply Pay Cash are among the services that have made it easy and efficient to pay back friends and family from your mobile device.

Buying A Home During Winter

Spring and summer may be the most popular times to buy a home, but winter can be a surprisingly hot season for house-hunters. Motivated sellers and increased negotiating power are among the many benefits.

West Bend Branch Turns 2!

Join us Friday, January 17, to help SELCO's West Bend Branch celebrate two years in business. Stop by the branch (137 SW Century Drive) anytime between 10am–6pm to join in the fun.

November 2019

Using Equity to Winterize Your Home

As winter beckons, there are myriad ways to protect your home from the elements. Take stock of your situation to determine if tapping into your equity is the answer to making your home more efficient.

Stay (Financially) Safe During the Holidays

The forecast calls for retail sales to hit nearly three-quarters of a trillion dollars during the holiday season. All the more reason to exercise caution during the shopping frenzy.

4 Myths About Your Credit Score Debunked

Understanding your credit score can be confounding. But you have more control over it than you think—your credit score is more of a track record than a snapshot.

Medicare Seminars

Portland & Springfield. Ready to sign up for Medicare? We're hosting free informational events in November and December, at which you can learn more before the December 7 deadline.

September 2019

Volunteer Spotlight

Earlier this year, SELCO launched its Employee Volunteer Program, which grants team members up to 20 hours of paid time off to volunteer in the community. Here's what they've already accomplished.

Now Accepting SPARK! Grant Applications

It's time again for educators all over Oregon to submit their proposals for a SPARK! Creative Learning Grant. You could receive up to $1,000 for your innovative classroom project.

Project Spotlight: Digital Media Studies

Santiam Middle School used their 2018 SPARK! grant to purchase equipment for their new digital media studies class. We caught up with them to see the results.

The Cost of Going Solar

Solar panels are an increasingly popular way to shrink your footprint and boost your home's efficiency. But how do you cover the upfront cost?

Estimating Your Retirement Income Needs

The simple advice is to set your retirement income as a percentage of your current income. But that approach doesn't account for your specific plans.

QuickTips: Traveling Smarter and Safer

Going out of town for awhile? To get your finances ready, be sure to plan ahead, stay safe, and avoid ATM surcharges.

July 2019

After Lengthy Decline, Certificates Rebound

CD rates are the highest they've been in a decade and SELCO's certificates are offering some of the best returns available. See for yourself how we compare.

The Freedom Certificate

Take no penalty for early withdrawal, but gain a 2.5% bonus if your original balance is untouched after 3 years.

Certificate Calculator

Enter your deposit, select a term, and see for yourself exactly how much you'll save with any of our standard certificates.

Your Personal Boat Buying Guide

Owning a boat is a major commitment. Best to know what's in store before deciding what you're buying, when you're buying it, and your plan for financing.

Don't Forget to Create Your User ID

SPARK! Grant Applications Open Soon

Every year, SELCO awards grants up to $1,000 to K-12 teachers throughout Oregon. We're accepting new applications starting August 15.

May 2019

Personalized User IDs Coming Soon!

In response to member feedback, your new personalized user ID will soon replace your member number to access both online and mobile banking.

Our Thurston Branch Has Moved!

New location, added services, same focus on you. Check it out at our open house on May 10.

The 2019 SELCO Pole Pedal Paddle

May 18, Bend: Oregon's definitive multi-sport race is just around the corner!

Market Trends Seminar

May 14, Bend: Join us for a seminar on financial market trends. We'll discuss the opportunities, risks, and cyclical insights of investing.

Signs You Might Be Living Beyond Your Means

It's easy to accrue debt these days. Steer away from the "living paycheck to paycheck" path by checking yourself for these red flags.

3 Ways to Escape a Mountain of Debt

Found yourself trapped on a growing stack of unpaid bills? Here are three different strategies for managing debt and finally becoming debt-free.

March 2019

Looking to Consolidate Debt? Try a HELOC

Burdened by high-interest credit cards? A home equity line of credit can be a great way to consolidate debt and minimize monthly payments.

The Changes Affecting Your 2019 Tax Return

The Tax Cuts and Jobs Act of 2017 goes into effect this year. What are the biggest changes and what do they mean for you and your expected return?

6 Barriers to Investment Success

March 28, Bend: Learn more about the practices that get in the way of making the best financial decisions.

Retirement Planning Seminar

April 10, Eugene: In today's volatile market, it's more important than ever to plan for retirement.

Apply Today for a $2,500 College Scholarship

High school seniors: Only one month left to submit your applications! Before you do, check out video responses to last year's essay questions for a little inspiration.

Driving for Uber or Lyft? Make Sure You're Insured

Many insurance carriers require extra coverage for rideshare services like Uber and Lyft. Unfortunately, many drivers don’t realize it.

The Trick to Saving: Pay Yourself First

Don't fill your savings account with whatever's left over. If you set aside a fixed amount each paycheck, your balance will grow faster than you realize.

January 2019

Real Estate Trends to Watch in 2019

There's no shortage of opinions about the housing market for 2019, but three trends seem clear: inventory will stay low, rates will move up, and the number of buyers will increase.

Celebrating Our Members with SELCO Cheer

This January, we're randomly selecting 150 members to receive $100 for themselves and $100 for the charity of their choice.

A Certificate Perfect for Rising Rates

SELCO's new Bump and Boost Certificates offer a more flexible and easier to get started alternative to traditional share certificates.

Weathering a Volatile Market in 2019

Long-term financial planning is never more important than when you're facing market uncertainties.

Working on Your Relationship with Your Credit Card

Jen's dragged to couple's therapy by her credit card which is at its limit. Literally.

November 2018

Generation Z and the Minefield of Online Scams

Young people's familiarity with technology—specifically, social media—can create a false sense of security when targeted by online scams.

Upcoming Event: Estate Planning Seminars in Eugene and Bend

Learn how to ensure your estate is protected and passed on at one of our free events, November 14 and 15.

Fall: The Sleeper Season for Home Buying

While people don't typically associate autumn with home buying, it can be less competitive, less frantic, and more flexible than the peak seasons.

Planning Your Spending for the Holidays...

The average American ends the holidays with an extra $1,000 in debt. A manageable budget is the best way to keep that stressful debt from piling up.

...And Making Sure You Stick with It!

Every SELCO member has access to Money Manager, a free tool that lets you set spending targets, monitor spending, receive alerts, and more.

The Many Schemes of Scam Artists

From unexpected winnings to fake charities, this anthropomorphic inspector breaks down the increasingly complex ways fraudsters collect financial info.

September 2018

Extended Vehicle Warranties: Worth the Cost?

Is it better to purchase coverage you might not need or risk covering maintenance expenses yourself?

Upcoming Event: Long-Term Care Seminars

Bend & Eugene, Sept. 19-20. Join us for a talk on the importance of planning ahead and protecting your estate.

Upcoming Event: Medicare Seminars

The latest version of the SELCO Mobile Banking app includes touch ID, an improved design, and an easy method to send money to friends and family.

SPARK! Grants: From Gardens to Guitars

We're now accepting applications for our SPARK! Creative Learning Grants, which finance inventive school projects around Oregon. Need some inspiration? Check out some of last year's recipients, who launched a school garden and a guitar-building workshop.

A Loan, a Good Neighbor, and a Dream Boat

This member found the deal of a lifetime on his dream boat, but needed a little help from SELCO (and a very generous neighbor) to secure it.

Start Saving Now for Your Child's Education

College tuition has tripled over the past 30 years. All the more reason to take advantage of savings tools (like 529 College Savings Plans) early.

July 2018

Your Personal RV Buying Guide

In terms of major life purchases, an RV lands somewhere between a car and a house. So the more you know before you buy, the smoother things will go.

What's New With Our Mobile App?

The latest version of the SELCO Mobile Banking app includes touch ID, an improved design, and an easy method to send money to friends and family.

Car Dealership Due Diligence

There's more to used car shopping than picking whatever's newest and cheapest. These basics cover the research worth doing before you head to the dealer.

When Buying a Used Car, Beware of 'Curbstoning'

Used car sales through private sellers don't have the same protections as through a dealer. So it's important to make sure you're not misled.

SPARK! Creative Learning Grants

Teachers: Tell us about your idea for an innovative and engaging K-12 project and you could receive funding. Applications open August 15.

May 2018

4 Ways to Watch Your Savings Grow

Conventional savings accounts offer the easiest access to funds but the lowest interest rates. Don't overlook these alternate savings vehicles; they're more accessible than you might think!

Our Annual Highlights

Curious how SELCO's doing? We're sharing our annual financial info with our fellow member-owners, along with a short video covering some of our accomplishments of the past year.

Earn 1.25% APY on an 18-Month Certificate

Give us a call, visit a branch, or log into online banking to get started.

Our 2018 Scholarship Winners

These 20 ambitious high school seniors will receive $1,500 toward their first year of college.

Tricks to Selling Your Home Quickly

Nobody ever wants to drag out the process of home selling. Here are a few tips from our mortgage team on getting it done ASAP.

A Parent's Guide to In-Game Purchases

Not all virtual purchases are equal. Understanding the differences is key to helping your kids spend responsibly.

March 2018

Before You Sign Your Auto Loan...

Financing can be complex. Here are a few questions to keep in mind to make sure you fully understand your options, before you sign on the dotted line.

The Trick to Faster Mobile Deposits

Do your mobile deposits keep getting held up for "review"? Here are some tricks to make sure your money shows up in your account right away.

$1,500 Toward Your Tuition and Textbooks

Headed for college? We're now taking applications for our annual scholarship program.

Find Your Tax Information

From dividends earned to deposits made, we've put together a list of all relevant tax forms and where you can find the info you need.

The Financial Mistakes of Our 20s and 30s

The future has a habit of sneaking up on you. Keep an eye out for these all too common—but avoidable—financial miscalculations.

January 2018

Schedule an Appointment with Our New Tool

Need to meet with us? Our site's recently been upgraded with an easy-to-use scheduler. Find "Schedule an Appointment" in the footer of any page and let us know what time and place works best and what you want to talk about.

Alerts, Tips, and FAQs About Your Security

That’s not all that’s new at selco.org. Our new Security Center includes warnings about known scams, advice for staying safe, and next steps if your account is compromised.

Coming Soon to West Bend

Introducing the newest branch in SELCO’s family: West Bend! It’s a new approach to a credit union, with 24/7 indoor ATMs, video conferencing with specialists, and an open layout instead of teller windows. Mark your calendar for the open house on February 2!

How Students Can Keep Money in Their Pockets

In the moment, it can be hard to tell the difference between what you need and what you want. That's the beauty of having a budget to fall back on.

Everyone Needs an Emergency Fund (Yes, You Too)

When you're healthy and insured, it's hard to imagine you'd ever need an emergency fund. But that thinking can get you into hot water.

November 2017

Learn to Do New Things with Online Banking

Our new "How To" section features a growing list of click-through tutorials on everything from automatic alerts to paying bills.

Tips to Control Holiday Spending

You like to take risks when investing, but your partner wants to play it safe. Where to start when coming up with a plan?

Be Aware of Free Trial Offers

Sometimes “free” isn’t all that free, which can come as a real shock if you find an unexpected charge on your account.

How Long Does It Take to Double an Investment?

The exact math behind long-term investment growth can get complicated. Luckily, there’s a shortcut to making a pretty good estimate.

September 2017

For a Limited Time, Get a Special 4-Year Certificate

Guarantee your savings growth with a 1.85% APY* on new 4-year certificates.

Our Mini-Grants Aren't So 'Mini' Anymore

Every year, we award grants to K-12 educators to fund creative learning projects. This year, our grants have a new name, bigger award amounts, and a new way to share your innovative ideas.

Smart Speakers Answer Your SELCO Questions

Own an Amazon Echo, Dot, or Show? Download the SELCO Skill for voice-activated access to branch hours, up-to-date rates, and other handy information.

6 Essential Tips for Renting an Apartment in College

Living on your own can be equally intimidating and exciting. Don't be afraid to ask questions!

Which Mortgage Type Is Best for You?

Naturally, you pick the mortgage with the lowest rate... right? Turns out it's not that simple.

July 2017

Welcome to the New Selco.org

If you haven't seen it yet, we've made some big changes to our website and online banking. Check out our simplified navigation, prominently placed rates, quick link icons, and much more.

Homeowners Can Put Equity to Work with a HELOC

A home is likely the largest investment most of us will make. Learn how to protect that investment by leveraging your home's value.

Finding a Balance While Investing

You like to take risks when investing, but your partner wants to play it safe. Where to start when coming up with a plan?

How Can I Boost My Credit Score?

We've talked about credit before, but what practical steps can you take to get and keep a high score? Credit Squirrel returns to explain.