Sunday, July 25, 2021


Supporters of U.S. Postal Service are pressing to affirm its commitment to 6-day-a-week delivery; Congress looks to tackle "forever chemicals."


Drama builds over who will serve on the House January 6th panel; Senate tries to hold tech accountable for COVID misinformation; and VP Harris promotes a path to citizenship for Dreamers.

Report: WA Credit Unions Economic Driver in 2020


Wednesday, March 24, 2021   

SEATTLE -- Washington credit unions have a big economic impact on the state, according to a new study.

ECONorthwest finds the institutions contributed nearly $7 billion to the state's economy in 2020.

Troy Stang, president and CEO of the Northwest Credit Union Association, believes the not-for-profit structure of the financial institutions is the driving force behind benefits for members.

"The economic report measures that ripple effect," Stang explained. "If every consumer has hundreds of dollars more in their back pocket, they are more financially stable and are able to invest and spend that money locally."

More than 4.7 million, or 62%, of Washingtonians are members of a credit union. According to ECONorthwest, that number is a 7.7% increase over its last analysis in 2018.

Credit unions have played a pivotal role during the pandemic, especially distributing Paycheck Protection Program (PPP) loans for small businesses.

Stang noted the average loan amount in the Northwest to credit union members was $44,000.

"That keeps that business able to keep their employees employed through the pandemic," Stang remarked. "And we believe firmly that that in itself will be a huge component as our economy snaps back to what our new normal is, post-pandemic."

Washington credit unions made $491 million worth of PPP loans. The report showed they also waived $6.7 million in fees during the pandemic.

Disclosure: The Northwest Credit Union Association contributes to our fund for reporting on Community Issues and Volunteering, Consumer Issues, Housing/Homelessness, and Livable Wages/Working Families. If you would like to help support news in the public interest, click here.

get more stories like this via email
While most electricity in Utah is generated by gas or coal-powered plants, one regional utility is considering the nuclear option. (brianguest/Adobe Stock)


SALT LAKE CITY -- In the push toward carbon-free energy production, some cities in Utah and nearby states are considering a new type of nuclear …

Health and Wellness

TAMPA, Fla. -- Move United's USA Wheelchair Football League is expanding from four cities to nine, including Tampa, to give athletes with …


CRAIG, Colo. -- What would it look like if one in four households in the country was solar-powered? A new report from the "30 Million Solar Homes" …

According to the American Heart Association, one in five cardiac arrests occurs in public, such as on a job site. (Adobe Stock)

Health and Wellness

DES MOINES, Iowa -- People across the Midwest, including Iowans, have dealt with a series of heat waves this summer. Health experts say hotter …

Social Issues

NEW YORK -- Over 10,000 New York and New Jersey front-line airport workers will get health insurance as part of new contract negotiations that come at…

More than 400 laws have been introduced this year that would restrict voting rights across the country. (Lakshmiprasad/Adobe Stock)

Social Issues

INDIANAPOLIS -- Voting-rights advocates applaud this week's federal appeals-court decision to prevent Indiana from purging some voters from the rolls …


BOSTON -- A new survey finds widespread public support up and down the East Coast for protecting right whales from getting tangled up in fishing gear…


CARSON CITY, Nev. - A bill just introduced in the U.S, Senate would help thousands of species stay off the Endangered Species List - including …


Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021