Cities of Washington, now’s your chance to support your local credit union like never before. Counties, towns, school districts, fire districts and other such public entities, same deal.

The Legislature on Monday passed Senate Bill 5913 allowing credit unions in the state to accept deposits of up to $250,000 from municipalities and other such public groups.

“It increases the ability of all credit unions to accept public funds in the state,” said David Bennett, spokesman for the Northwest Credit Union Association, on Tuesday.

Association President Troy Stang said he expects the amount of deposits flowing to credit unions – deposits …

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Hoquiam-based Timberland Bank this week reported fiscal first-quarter income of $1.28 million, or 15 cents per share. This compares to a net loss of $339,000 for the previous quarter and a gain of $1.10 million for the same quarter a year before.

Loan originations increased 39 percent over the previous quarter while the provision for loan losses fell to $650,000 from $1.76 million the quarter before.

Net charges-offs – bad loans taken from the books – were $624,000 for the quarter, compared to $1.6 million the quarter before.

“We are pleased to announce a profitable first fiscal quarter that included …

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William Weyerhaeuser, chairman of Tacoma-based Columbia Banking System, announced Monday that Michelle Lantow and S. Mae Fujita Numata have joined the board of directors.

• Lantow’s most recent position was as chief financial officer of McCormick & Schmick’s. a 93-restaurant company based in Portland. She has held the position as president of lucy activewear, an apparel company with 64 stores in 19 states. She has also served as CFO at the company. She previously served as corporate controller and vice president of investor relations at California-based specialty retailer GAP, Inc.
Lantow holds a BA in business economics from the …

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CoreLogic, a California-based business analysis service, has released its December Home Price Index. The data show a drop in the price of homes across the country, in Washington and in the Tacoma area. in 2011

Where home prices nationwide were down 4.7 percent at the end of December compared to prices in December, 2010, home prices in the Tacoma area were down 10.2 percent.

November figures showed prices had fallen 10.9 percent in the Tacoma area, the company said in a release Thursday.

Statewide, prices were down 5.3 percent fir December – placing the state between Delaware and New Mexico. …

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Puyallup-based Valley Bank this week reported an increase in earnings to $2.15 million, or $1.90 per share, for 2011 – compared to $2.07 million, or $1.82 per share, in 2010.

The Company also reported that the board of directors has approved a $1 per share cash dividend to shareholders of record on December 31, 2011. The dividend represents the 38th consecutive year of payment.

Total assets at Valley increased to $237 million at December 31, compared to $228 million at December 31, 2010.

Total loans were flat for the year while deposits increased approximately 4 percent. Total loans and deposits …

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Given a strong net profit for the fourth quarter and for all of 2011, the board at Tacoma-based Columbia Bank has announced a quarterly cash dividend of 8 cents per share plus a special cash dividend of 29 cents per share.

The numbers, released early Thursday:
• Net income for the quarter at $14.8 million, an increase of 17 percent compared to $12.6 million for the fourth quarter in 2010.
• Quarterly per-share income of 37 cents, up 16 percent from 32 cents the year before.
• Annual net income of $48 million, up 86 percent from …

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If you’re a Bank of America Washington or Idaho customer with a joint checking account, you likely received a new debit card from the bank last fall.

If you haven’t had time to activate that card, its time to do so now, the bank is advising.

The reason? Your old debit card won’t work beginning Wednesday.

The new cards are part of a system enhancement that Bank of America rolled out in the last few months that finally lets Northwest customers access the same services as Bank of America customers in the rest of the country.

The new …

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Here’s a financial tip for the New Year: If you’re going to take out a loan online, check the company sending the money.

The state Department of Financial Institutions has issued an alert concerning an outfit called Action Payday, which uses the website actionpayday.com.

A state consumer alleged that Action Payday withdrew excess fees from his account. That’s how it works. You ask for some money, the company asks for access to your checking account. The company sends money and then withdraws the loan repayment.

And sometimes the company withdraws more than you expected.

Action Payday is not licensed by …

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