OnPoint Community Credit Union Shares Budgeting Tips As Travelers Face Higher Summer Travel Costs (Photo) - 06/22/26

PORTLAND, Ore. — Americans aren't letting higher prices stop them from traveling this summer. Recent research from KPMG found that 60% of Americans plan to travel this summer, though nearly 40% are adjusting their plans by shortening trips, choosing more affordable destinations or staying closer to home. Those changes come as travel prices rose 9.8% year-over-year in May, according to the U.S. Travel Association’s May 2026 Travel Price Index, fueled by sharp increases in motor fuel (40.9%) and airfare (26.7%) costs.

OnPoint Community Credit Union is sharing practical budgeting tips to help local travelers make the most of their summer plans while keeping their finances on track.

“Higher travel costs are prompting many households to take a closer look at their vacation budgets,” said Amber Kelly, Oregon City branch manager, OnPoint Community Credit Union. “When you have a clear understanding of your budget and priorities, you can spend with confidence, focus on the experiences that matter most and return home knowing your finances are still on track.”

Below are OnPoint’s tips for helping people in Oregon and southwest Washington manage summer travel costs:

1. Build a budget before booking. Estimate the full cost of transportation, lodging, food, activities, fees and tips before booking. Adding a 10% to 15% buffer can also help cover unexpected expenses without relying on credit. Consider creating a daily spending target for meals, activities and souvenirs to help keep costs on track throughout your trip.
2. Plan food and activities in advance. Food, entertainment and last-minute purchases can quickly push a trip over budget, especially in tourist areas. Decide ahead of time where you want to spend, where you can save and which activities matter most. Lodging with a kitchen or refrigerator, packed snacks, grocery stops and free or lower-cost activities can all help stretch your travel budget.
3. Compare the cost of flying vs. driving. Airfare increased 26.7% year-over-year in May, according to the U.S. Travel Association, but driving isn’t necessarily the cheaper option. As of June 22, 2026, AAA reported gas averaged $4.843 per gallon in Oregon and $5.349 in Washington — well above the national average of $3.92 per gallon. Compare the cost of each option before finalizing your plans, including airfare, gas, parking, baggage fees, rental cars, tolls, airport transfers and local transportation. Tracking flight prices over time with tools like Google’s 60‑day fare history can help you spot a low price.
4. Avoid taking on vacation debt you cannot quickly repay. Credit cards can offer convenience, rewards and fraud protection, but carrying a balance can make a trip significantly more expensive after interest. Set a spending limit before you leave and consider using a dedicated savings account for travel expenses, so vacation costs do not follow you long after you return home. If you're using a rewards credit card, redeem existing points or miles to offset flights, hotel stays or other travel costs rather than adding to your balance.
5. Protect your finances before and during travel. A little preparation can help travelers avoid stressful money issues on the road, including declined transactions, lost cards and unexpected fees. Set up card alerts, know how to freeze or replace a card, bring a backup payment method and check whether foreign transaction fees apply before traveling internationally. Consider storing digital copies of important travel documents in a secure location in case they are lost or stolen.
6. Consider adjusting your plans. Recent travel surveys found many Americans are choosing more affordable destinations, shortening vacations or staying closer to home to make summer travel fit their budget.  A regional trip, day trip or long weekend can often deliver many of the same benefits as a larger vacation at a fraction of the cost. Traveling during midweek or shifting your departure dates by a few days can also help reduce transportation and lodging expenses.

“Summer travel is about making memories with the people and experiences that matter most,” Kelly added. “A little planning can go a long way toward helping travelers make the most of their budget, enjoy their trip with confidence and return home feeling good about their financial decisions.”

OnPoint offers savings accounts, credit cards, digital banking tools and financial education resources to help members manage everyday expenses and plan for larger goals, including travel. For more information, visit onpointcu.com.

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About OnPoint Community Credit Union

OnPoint Community Credit Union is the largest credit union headquartered in Oregon, serving more than 648,000 members throughout Oregon and southwest Washington. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and who lives, works, worships, or attends school in one of four Washington counties (Clark, Cowlitz, Lewis, and Skamania), and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at onpointcu.com.

Federally insured by NCUA. Equal Housing Opportunity.

New Report Finds One-third Of Auto Loans Now Exceed Six Years; OnPoint Community Credit Union Shares Guidance (Photo) - 06/03/26

PORTLAND, Ore. — OnPoint Community Credit Union is encouraging auto buyers in Oregon and southwest Washington to carefully evaluate financing options as a new report shows that affordability pressures continue to shape the car-buying market.

Experian’s Q1 2026 State of the Automotive Finance Market Report found more than one-third of auto loans now exceed six years as more consumers stretch repayment terms to manage higher vehicle prices and monthly payments. The report also found average loan amounts, monthly payments and loan terms all increased year-over-year, while refinance activity grew as borrowers searched for ways to lower monthly costs.

“Consumers are increasingly focused on lowering auto loan costs in the short term as interest rates and vehicle prices remain high,” said Meredith Bureau, Hillsdale branch manager, OnPoint Community Credit Union. “We encourage buyers to also consider the long-term cost of financing a vehicle by comparing financing options, understanding how loan terms impact total interest paid and choosing a car that fits comfortably within their budget.”

Below are OnPoint’s tips for helping people in Oregon and southwest Washington navigate today’s auto market:

1. Avoid stretching loan terms too far. Longer loan terms can make higher-priced vehicles feel more affordable upfront, but they increase total borrowing costs over time. For example, financing a $40,000 vehicle at 7% interest over 84 months instead of 60 months could add nearly $4,700 in additional interest over the life of the loan. Focus on the total cost of the loan and consider a lower-priced vehicle or larger down payment when possible.
2. Get pre-approved before shopping. Knowing how much you can afford before visiting a dealership can help you shop with confidence and stick to cars that are within your budget. Pre-approval also provides a clearer picture of the interest rate and loan terms you may qualify for.
3. Know your budget before visiting the dealership. Buyers should also factor in insurance, fuel, maintenance and registration costs as loan amounts and monthly payments rise. AAA’s 2025 Your Driving Costs study found the average annual cost of owning and operating a new vehicle was $11,577 per year or about $965 per month.
4. Consider and compare financing and refinancing options. Experian’s report found that consumers who refinanced in Q1 2026 lowered their average interest rate from 10.29% to 8.05%, saving an average of $81 per month. Those who refinanced with credit unions saved an average of $101 per month, compared to $60 for those who refinanced with banks.
5. Check your credit ahead of time. Interest rates remain elevated compared to pre-pandemic levels, making credit scores especially important for buyers seeking lower financing costs. The Federal Reserve reported average interest rates on 60-month new car loans remained above 7% entering 2025.  Even a 1% difference in the interest rate can translate into thousands of dollars in additional interest paid over the life of a loan.

“Comparing financing options, understanding interest costs and choosing a vehicle that fits both your budget and lifestyle can help you feel more financially confident long after leaving the dealership,” Bureau added. “Taking time to plan ahead and understand the full cost of ownership can help buyers avoid financial stress down the road.”

OnPoint offers auto loans for new and used vehicles, refinancing options and educational resources to help consumers make informed borrowing decisions. For more information about OnPoint auto loans, visit www.onpointcu.com/auto-loans.

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About OnPoint Community Credit Union

OnPoint Community Credit Union is the largest credit union headquartered in Oregon, serving more than 648,000 members throughout Oregon and southwest Washington. Founded in 1932, OnPoint Community Credit Union’s membership is available to anyone who lives or works in one of 28 Oregon counties (Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Hood River, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Wasco, Washington, Wheeler and Yamhill) and who lives, works, worships, or attends school in one of four Washington counties (Clark, Cowlitz, Lewis, and Skamania), and their immediate family members. OnPoint Community Credit Union is federally insured by the National Credit Union Administration (NCUA). More information is available at onpointcu.com.

Federally insured by NCUA. Equal Housing Opportunity.