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Banking & Finance

Northwest Farm Credit's earnings rise

Co-op members receive $92 million in patronage
March 10, 2016
LeAnn Bjerken
Northwest Farm Credit Services has reported 2015 earnings of $255.6 million, an increase of $27.5 million, or 12 percent, compared with $228.1 million in 2014. The Spokane-based agricultural lending cooperative says its higher net income was due mostly
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—LeAnn Bjerken

SNAP Financial Access expects loan volume to hit $700K this year

Total volume increased, defaults declined in '15
February 25, 2016
LeAnn Bjerken
SNAP Financial Access, a community development financial institution here, saw a 26 percent increase in loan volume last year and hopes to continue its goal of providing small business development resources through new programs and partnerships, a program
Read More

SBA small-business loan incentives help more borrowers

Programs boost cash flow for business starts, growth
February 25, 2016
Mike McLean
U.S. Small Business Administration loan incentives are helping a growing number of businesses start up or expand, some lenders here say. In 2015, lenders in the Spokane branch of SBA's Seattle district issued 522 SBA-backed loans totaling $183 million,
Read More
—Kevin Blocker

For Spokane-area credit unions, auto loans are a growth drive

Lenders say activity here mimicked national trend
February 25, 2016
Spokane-area credit unions say they experienced an uptick in overall loan originations from 2014 to 2015, sparked in part by robust demand for auto loans. The demand for autos here mimicked what was a national trend in 2015. Experian Automotive, operat
Read More
—LeAnn Bjerken

Lack of banking options exposes marijuana industry

Security concerns revolve around managing bulk cash
February 11, 2016
LeAnn Bjerken
The number of identity fraud victims in the U.S. increased by 3 percent, to 13.1 million consumers, last year, but the amount stolen decreased by 6 percent, to $15 billion, says a study released earlier this month by San Francisco-based Javelin Strategy
Read More
—Boeing Employees Credit Union

BECU sets sights on three Spokane neighborhoods

Credit union already serves about 4,000 members here
January 28, 2016
LeAnn Bjerken
Boeing Employees Credit Union, which claims to be the fourth largest credit union in the U.S., is researching three possible locations available for lease-one near Gonzaga University, one in north Spokane, and one in Spokane Valley-as it prepares to e
Read More

Horizon, Amicus credit unions plan to merge operations

Credit unions likely to seek member approval this spring
January 28, 2016
Staff Report
Spokane-based Horizon Credit Union plans to merge into its operations the smaller Amicus Federal Credit Union, also of Spokane. Boards for the two credit unions approved the merger earlier this month, with both voting unanimously in favor of combining. T
Read More

Tax 'extenders' made permanent

Accountants say PATH Act will make planning ahead easier for many
January 28, 2016
Mike McLean
Some tax preparers here say a few tax breaks that Congress recently made permanent will enable them to have a greater degree of certainty in helping clients with tax planning. Provisions made permanent in the Protecting Americans from Tax Hikes Act of 20
Read More
—Kevin Blocker

Washington Federal's future foothold

Seattle-based bank now boasts 15 Inland Northwest branches
January 28, 2016
Washington Federal Inc., the Seattle-based parent of Washington Federal bank that now has a permanent Eastern Washington headquarters on Spokane's North Side, has ambitious aspirations to grow its Inland Northwest presence in the years to come. Doug Sm
Read More

CPA firm rebrands, adds new partner

-
January 28, 2016
Staff Report
The accounting firm that formerly operated here for many years as Heiskell MacGillivray & Associates PS has a new name, new logo, and new shareholder. The firm recently changed its name to HMA CPA PS, redesigned its logo, and launched a new website to re
Read More
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