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Banking & Finance

—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

Inland Northwest bankruptcy filings decline for fifth straight year

Several factors could cause trend reversal
January 14, 2016
LeAnn Bjerken
Bankruptcy filings in Eastern Washington and North Idaho have declined for the fifth straight year.
Read More

Foreclosure actions dip, approach prerecession norms

Trend tied to job growth, health of housing market
January 14, 2016
Mike McLean
Foreclosure actions completed in Spokane County in 2015 dropped by 27 percent compared with the number of foreclosures in 2014, finally falling out of the historically high range, says Phil Kuharski, a longtime Spokane economic data analyst.
Read More

Spokane-area banks, credit unions foresee dampening effect

-
December 17, 2015
Kim Crompton
Bank and credit union executives here say they anticipate healthy growth in loans and deposits in the coming year, although perhaps slightly softer gains than they've seen this year as historically low interest rates that have lingered for years since t
Read More

Federal budget quietly cuts Social Security provision

File-and-suspend strategy to be eliminated in phases
December 3, 2015
Mike McLean
The new federal budget contains a cut to Social Security benefits that could limit options for baby boomers close to retirement-and everybody who follows them. Hidden in the budget bill is a change to Social Security that eliminates file-and-suspend ru
Read More
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