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Morning report, Nov. 5

Post by News Tribune Staff on Nov. 5, 2007 at 9:49 am with No Comments »
November 5, 2007 9:49 am

The story probably won’t run until Thanksgivingtime (and, judging from insets in Sunday’s Trib and the decorations in the mall, we’ve already skipped it to get to Christmas celebrations), but I’m meeting with some people today about a cool story: the Veterans Family Fund certificate of deposit programs.

I’m usually not one to read (or write) about investment schemes, but this one struck me as a winner early on. Recognizing veterans and their families can struggle financially while deployed, part of the interest of the CDs goes to a nonprofit group which helps distribute the funding.

It’s pretty simple: An investor deposits money into a six-month CD with a $100 minimum. Half of the interest returns to the investor. The other half goes to the Veterans Family Fund of America.

Today I’m meeting with John Lee, the director of the Washington State Department of Veterans Affairs. I’m talking later today to Michael Worthy, the CEO of the Bank of Clark County, who helped develop and launch the project. It launches in Pierce County the week of Thanksgiving. I’ll let y’all know what they say.

Morning report
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