You can copy image and text to TextEdit, as the previous post said, all you need is Rich Text.
Don't get Office for Mac, At my old job, I had to use Office for Mac, it pretty sucks.
Have you been able to confirm this with textedit? Open google chrome or firefox, highlight some text with images, copy and paste into text edit. Even if I've already inserted an image into textedit and turned on rich text mode, it will only keep the text from what you've pasted.
And can you elaborate some more on why office for mac sucks?