When it comes to managing money and improving credit scores, residents of the greater Spokane area have a friend in SNAP. Now, thanks to a $62,000 donation from BECU, Washington State’s largest credit union, the support, education and encouragement will continue.
“We had reached a point where outside funding cuts had put our Financial Counseling program in jeopardy,” said SNAP CEO Julie Honekamp. “Thanks to this generous gift from BECU, we now know this program will keep going and growing.”
While BECU has operated a customer service center in Spokane Valley for the past 12 years, the credit union will be opening up its first two branches in the Spokane area next month. BECU’s arrival and the donation to SNAP received some attention last week in both the Spokesman-Review and Journal of Business.
“As the second largest city in Washington, Spokane is a vibrant and connected community,” said Tom Berquist, BECU’s senior vice president of marketing. “BECU is looking forward to providing greater convenience to our more than 5,000 Spokane members and building community partnerships.”
Each year, over 800 residents of the greater Spokane area enroll in the SNAP Financial Counseling program layered with other services offered by the SNAP Business Development and Housing Counseling team. Staffed by one financial counselor and two volunteers, the program typically has a six-week waiting list. Many clients seeking to start a business or buy their first home utilize the program to improve their credit scores and learn how to more effectively manage their money.
“Our Financial Counseling program prepares for and actually gets our clients on a path to build their credit scores and gain control of their money,” said Chris Pasterz, SNAP Financial Stability director. “With the new support of BECU, we are bolstering the program to ensure that we continue to serve our clients and prepare them for the next stages of their financial stability journey.”
The Financial Counseling program is comprised of two courses, “Navigating the Credit World” and “Give Yourself a Raise” and includes individual consultation with the agency’s certified financial counselor. When clients complete both courses they are eligible for SNAP’s credit builder loan program.
One SNAP client named Jeanette suffered a stroke several years ago and was unable to work. During her recovery, she fell behind on her car payments. Eventually, the vehicle was repossessed.
Last September, she enrolled in the credit building workshop with few expectations. Living on a fixed budget from a small amount of disability income, she was facing collections while watching her credit score plummet. The workshop and the credit builder program helped Jeanette navigate her way back to financial accountability. While Jeanette was unable to remove the car payment delinquency from her report, her score still jumped from 0 to 704 in around five months.
“Now someone who found herself in a situation many would call hopeless has a huge sense of financial accomplishment,” said SNAP Financial Counselor Jay McPherson. “She also has confidence and peace of mind moving forward knowing she has a downpayment in savings and a credit score that will allow her to purchase a car whenever she is ready.”
BECU is a member-owned, not-for-profit credit union that currently employs more than 100 employees in Spokane. It will be opening its first Eastern Washington branches in Spokane Valley and in Spokane on Sept. 19 and, for the first time in its 80-year history, it will provide in-person financial services to this area’s residents in addition to supporting community programs such as SNAP.
“BECU has a long history of providing financial education and helping those in need,” said Benson Porter, CEO of BECU. “The credit union ‘people helping people’ philosophy is a cornerstone of our brand and well matched with SNAP’s mission of providing the Spokane community with access to financial counseling services. With a growing member and employee base here and new branches opening this month, we look forward to supporting this vibrant city and its residents.”
These days, BECU has over $15 billion in assets and more than 950,000 members, 90 percent of whom live in Washington state. In addition to Boeing employees, all Washington residents and students attending in-state colleges and universities are eligible to join.
This month, BECU will literally branch out in Eastern Washington.
The credit union has operated a customer service center in Spokane Valley since February 2004 that employs over 100 people and offers ATMs at Rite Aid locations across Spokane Valley, but there has not been a BECU branch in the Inland Northwest until now. On Sept. 19, BECU sites will open in Spokane Valley at 615 N. Sullivan and in Spokane at 916 N. Division, just west of Gonzaga University. BECU is also planning a third location here soon.
Earlier this year, Hearth Homes, a Spokane Valley-based nonprofit that provides transitional housing to homeless women and children, received $10,000 through BECU’s “People Helping People” program. Over 250 nominations were submitted by BECU members with a total of $170,000 awarded to 13 nonprofit organizations.
BECU is a consistent supporter of Junior Achievement of Washington, a program that teaches financial literacy to students. Last year, Junior Achievement brought its money management curriculum to Central Valley High School. BECU is also a benefactor of Rebuilding Together Spokane, an organization that provides safe and affordable housing for low-income residents.
“We live in a very caring community that looks out for nonprofit causes,” said Honekamp. “BECU fits right in. They are proving that they walk the talk. It’s clear their investment here goes beyond opening some branches. They want to help their neighbors.” When it comes to managing money and improving credit scores, residents of the greater Spokane area have a friend in SNAP. Now, thanks to a $62,000 donation from BECU, Washington State’s largest credit union, the support, education and encouragement will continue.
“We had reached a point where outside funding cuts had put our Financial Counseling program in jeopardy,” said SNAP CEO Julie Honekamp. “Thanks to this generous gift from BECU, we now know this program will keep going and growing.”
While BECU has operated a customer service center in Spokane Valley for the past 12 years, the credit union will be opening up its first two branches in the Spokane area next month. BECU’s arrival and the donation to SNAP received some attention last week in both the Spokesman-Review and Journal of Business.
“As the second largest city in Washington, Spokane is a vibrant and connected community,” said Tom Berquist, BECU’s senior vice president of marketing. “BECU is looking forward to providing greater convenience to our more than 5,000 Spokane members and building community partnerships.”
Each year, over 800 residents of the greater Spokane area enroll in the SNAP Financial Counseling program layered with other services offered by the SNAP Business Development and Housing Counseling team. Staffed by one financial counselor and two volunteers, the program typically has a six-week waiting list. Many clients seeking to start a business or buy their first home utilize the program to improve their credit scores and learn how to more effectively manage their money.
“Our Financial Counseling program prepares for and actually gets our clients on a path to build their credit scores and gain control of their money,” said Chris Pasterz, SNAP Financial Stability director. “With the new support of BECU, we are bolstering the program to ensure that we continue to serve our clients and prepare them for the next stages of their financial stability journey.”
The Financial Counseling program is comprised of two courses, “Navigating the Credit World” and “Give Yourself a Raise” and includes individual consultation with the agency’s certified financial counselor. When clients complete both courses they are eligible for SNAP’s credit builder loan program.
One SNAP client named Jeanette suffered a stroke several years ago and was unable to work. During her recovery, she fell behind on her car payments. Eventually, the vehicle was repossessed.
Last September, she enrolled in the credit building workshop with few expectations. Living on a fixed budget from a small amount of disability income, she was facing collections while watching her credit score plummet. The workshop and the credit builder program helped Jeanette navigate her way back to financial accountability. While Jeanette was unable to remove the car payment delinquency from her report, her score still jumped from 0 to 704 in around five months.
“Now someone who found herself in a situation many would call hopeless has a huge sense of financial accomplishment,” said SNAP Financial Counselor Jay McPherson. “She also has confidence and peace of mind moving forward knowing she has a downpayment in savings and a credit score that will allow her to purchase a car whenever she is ready.”
BECU is a member-owned, not-for-profit credit union that currently employs more than 100 employees in Spokane. It will be opening its first Eastern Washington branches in Spokane Valley and in Spokane on Sept. 19 and, for the first time in its 80-year history, it will provide in-person financial services to this area’s residents in addition to supporting community programs such as SNAP.
“BECU has a long history of providing financial education and helping those in need,” said Benson Porter, CEO of BECU. “The credit union ‘people helping people’ philosophy is a cornerstone of our brand and well matched with SNAP’s mission of providing the Spokane community with access to financial counseling services. With a growing member and employee base here and new branches opening this month, we look forward to supporting this vibrant city and its residents.”
These days, BECU has over $15 billion in assets and more than 950,000 members, 90 percent of whom live in Washington state. In addition to Boeing employees, all Washington residents and students attending in-state colleges and universities are eligible to join.
This month, BECU will literally branch out in Eastern Washington.
The credit union has operated a customer service center in Spokane Valley since February 2004 that employs over 100 people and offers ATMs at Rite Aid locations across Spokane Valley, but there has not been a BECU branch in the Inland Northwest until now. On Sept. 19, BECU sites will open in Spokane Valley at 615 N. Sullivan and in Spokane at 916 N. Division, just west of Gonzaga University. BECU is also planning a third location here soon.
Earlier this year, Hearth Homes, a Spokane Valley-based nonprofit that provides transitional housing to homeless women and children, received $10,000 through BECU’s “People Helping People” program. Over 250 nominations were submitted by BECU members with a total of $170,000 awarded to 13 nonprofit organizations.
BECU is a consistent supporter of Junior Achievement of Washington, a program that teaches financial literacy to students. Last year, Junior Achievement brought its money management curriculum to Central Valley High School. BECU is also a benefactor of Rebuilding Together Spokane, an organization that provides safe and affordable housing for low-income residents.
“We live in a very caring community that looks out for nonprofit causes,” said Honekamp. “BECU fits right in. They are proving that they walk the talk. It’s clear their investment here goes beyond opening some branches. They want to help their neighbors.”