A planned merger of Gesa Credit Union and Seattle-based Inspirus Credit Union recently received approval from state and federal regulators.And Inspirus Credit Union members voted in favor of merging with Gesa on July 23. The official merger date is Aug. 1, and Inspirus Credit Union will begin operating as a...
By D. Patrick JonesRemember the phrase, “It’s the economy, stupid?” It certainly is true when assessing the state of regional lending. Let’s walk through what the economy does for the regional financial sector. But first, a word about the sector.The “credit intermediation” industry – largely banks and credit unions –...
Eric Pearson, CEO of Community First BankBrief background of your business:Community First Bank started 20 years ago and is the only locally-owned bank in the Tri-City market. We specialize in commercial, mortgage and construction lending, as well as banking for clients who desire a consultative relationship with their financial institution....
By Kris JohnsonIt isn’t just the decisions made in Olympia that impact the economy in Washington state. What happens in the “other” Washington can also affect employers, their employees and our families.Everything from health care to trade and immigration to taxes are increasingly impacted by what happens — or doesn’t...
By Beau RuffYou can do whatever you want with your money and assets but when charged with caring for another person’s money and assets, a body of law provides guidance on how you should proceed. Enter the prudent investor rule.I am not talking about financial planners and wealth management companies,...
Consumers should be aware of a regulatory change that went into effect on July 1, adding a step to the process of depositing a check from your cellphone aimed at helping to prevent fraud.With the advent of banking mobile apps and other “remote deposit capture” technology, the nation’s check collection...
The new storefront is online and to be successful there, it’s best to learn all you can about how to do it.That’s according to James Bledsoe, director of the U.S. Department of Commerce, International Trade Administration’s eCommerce Innovation Lab in Tacoma.“That’s how people are finding you and finding your products,”...
Citibank, a Wall Street financial institution, will pay a total of $100 million to 42 states, including Washington, for manipulating a key interest rate before and during the Great Recession, costing investors millions of dollars.These manipulations may have led investors to make riskier investments than they realized, or impacted the...
With more than 2 million individual taxpayer identification numbers, or ITINs, set to expire at the end of this year, the Internal Revenue Service is urging affected taxpayers to submit their renewal applications soon to beat the rush and avoid refund delays next year.In the third year of the renewal...
Mining in the Northwest was different in the 1890s.Back then, miners hunted for gold in the streams and mountains of Alaska and the Yukon with picks and shovels. Seattle was a jumping-off point and supply center for gold miners.Today, central Washington, upstream of the Tri-Cities, has become the focus of...
