Here’s what they’d like you to know:

Unique Banking – Right Here In Your Neighborhood

New in Renton, but almost 75 years old, we’re TwinStar Credit Union and we’d like to introduce you to a whole new style of banking. TwinStar operates for the good of our members, and as such we return operating profits to clients through better rates, lower fees and much better access to your money.

Credit unions do not have shareholders – we focus solely on returning value to the people who use the credit union. You’ll see it in our Accelerator Checking account which pays 3.00% APY* if you meet the monthly requirements. They are really quite simple, click here to learn more.

There’s also 20 other branch locations located along the 1-5 corridor and over 6,000 Shared Branch outlets (other credit unions where you can do many of the same transactions) located all over the US. Need cash at an ATM, just look for the Money Pass symbol and there’s no surcharge. Locations

TwinStar Credit Union started in the basement of Olympia High school in the last 1930’s so that teachers struggling with the Great Depression could have access to credit at fair prices. We’ll, we’re out of the basement now and have a robust website where you can do all sorts of account transactions and even pay bills – for free. Finally, we’ll soon be introducing Mobile Banking, which will provide much of the same access via your handheld device.

The branch is in downtown Renton – 1102 Bronson Way N., stop by to learn more about our unique style of banking. You can also visit the website or call 800.258.3115.

*APY = Annual Percentage Rate. Accounts insured by NCUA.

April 28, 2010

Mayor Jim Haggerton

Dear Tukwila Residents and Businesses:

The City of Tukwila is embarking on a process to improve our financial stability. Over the next few months we will explore a variety of actions to better balance our budget for the long term. Because these actions could involve significant changes to the services we provide to residents and businesses, I would like to briefly give you some background information and explain how you can stay informed as we work through the process.

BACKGROUND
Cities in Washington have been challenged in recent years by statutory limitations on property tax revenue during a period when the cost of providing services has continued to grow. For some time, the robust growth of the overall economy and significant new development in Tukwila provided the ability to cope with these revenue and expense problems. However, Tukwila’s finances have been hurt in recent years by implementation of the State’s “streamlined sales tax” system and by unanticipated expenditures related to problems at the Howard Hanson Dam. With this difficult financial backdrop, the economic crisis of the past few years has seriously affected the City’s ability to continue operating as we have in the past. An extended period of declining sales tax revenue and a dramatic slow‐down in new construction (with resulting stagnated property tax revenue) require that the City take action.

The chart below illustrates the City’s recent revenue/expenditure history (2000‐2009) and forecasts revenues and expenses through 2015 based on current service and staffing levels. As illustrated, revenues and expenditures were relatively equal through 2004. From 2005 through 2007, revenues exceeded expenditures each year, allowing the fund balance (our “bank account”) to grow over this period. However, in 2008 revenues declined while expenditures continued to increase, requiring that the City draw from its fund balance. The gap between revenues and expenses is expected to widen under current and anticipated conditions requiring continued and growing “withdrawals” from fund balance.

Temporary expenditure reductions for 2009 and 2010, a new utility tax on city‐run utilities, significant (and unsustainable) cutbacks in capital expenditures and a new solid waste utility tax have provided some relief. However, even after these measures are considered, forecasts show that the City will deplete its budget reserves (“fund balance”) in 2013 or 2014 if it remains on the current course. This situation cannot be allowed to continue.

NEXT STEPS
The City Council and I have begun an intensive process to review a wide range of possible measures for closing the budget gap and setting the City on a more sustainable financial path. This will require evaluating ways to increase revenues and decrease expenses. These measures will have real impacts on the cost and type of services we provide to residents and businesses and on the employees who provide those services.

Over the next few months, the City Council will evaluate these potential measures to close the budget gap. If you would like to stay informed as the City Council explores these options, please visit the “City Budget Challenges” page on our city website (www.ci.tukwila.wa.us) and sign up for automatic notifications.

These are challenging times but I know we will find a way to a more stable future for our city.

Sincerely,
Jim Haggerton
Mayor

BECU staffers Truyen, Angela, David (branch manager) Tina in front of
their Neighborhood BECU location in Redondo.

Welcome Our Latest Advertiser: BECU (Boeing Employees Credit Union)!

BECU is the largest credit union in Washington with assets of $8.2 billion with over 540,000 members. It is one of the top five financial cooperatives in the United States. As a not-for-profit financial cooperative, BECU is owned by its members, and its earnings are returned to the members in the form of better interest rates and lower fees for services.

BECU “walks the walk and talks the talk” when it comes to giving back to the communities they serve. We interviewed the managers of the BECU offices in our coverage area to see if they’re ‘walking and talking’.

David Paice, Manager of Redondo BECU located at 25250 Pacific Highway South in Fred Meyer’s – right when you walk in the door! David was born to manage with BECU. He was 19 when he started there, and less that seven years later he was branch manager. He’s been with BECU for over nine years, and during this time he went to school and got his MBA. His thoughts on BECU:

“It’s a great place to work.BECU provides a great environment and culture for our employees and members. Finally we have a great involvement with our communities.”

And speaking of involvement, in addition to managing the Redondo branch, David has thrown himself into volunteering in the communities he serves. He’s most particuarly interested in education and the issues of children. A board member for the Des Moines Legacy Foundation which raises funds for both the Senior Activity Center and youth at risks. It is a not for profit organization entering it’s 10th year in Des Moines.

He is also on the Highline Community College Foundation Board. David’s been on the board of the Highline Fund For Excellence which raises money and awareness of the Highline School District. Currently he is co-chair of this years’ Highline Fund For Excellence awards program on May 29th.

He joined the Des Moines Rotary Club two years ago, and is an active participant in their Poverty Bay Wine Festival. Monies raised from this event help children and students in the area.

David is a product of the Highline School District, and owes a lot of what he’s achieved in life to his association with HSD. A Tyee grad, and former Burien resident, David and his wife recently relocated to house four blocks from the house he grew up in. Not on purpose, they liked the house!

After we left David and his BECU Neighborhood Financial Center in Kent/Des Moines, we journied North to the BECU Tukwila Financial Center, at 12770 Gateway Drive.

Branch Manager Tricia Singer was glad to show us around the facility. In this BECU center, there’s 29 tellers, and 31 consulatants. The drive-thru accommodates six cars (see photo below).

Tricia’s been with BECU for 6 years, and a branch manager for over a year. When it comes to serving her community her “passion is the Tukwila Food Pantry, which serves Tukwila, and parts of Burien and SeaTac.” She grew up on food bank food, so she understands its importance to a community. She’s on the board and volunteers with her 13-year old daughter. She’s also recruited several tellers and bankers to volunteer.

Repeating David’s sentiments about BECU being such a great place to work, she added that at BECU it’s all about the members.

“When we say we’re here for the members, we are. With any decision made we ask ‘what is the benefit for our members?’” Tricia added.

Tricia serves on the Employee Involvement Committee which encompasses the Annual Member Scholarships for high school graduates and undergraduates that last year distributed over $1 million to 500 receipients who excelled in academics, leadership and displayed a passion for helping others. She also works on the annual Ebay Auction for Children’s Miracle Netork, which will be held June 1 – 11.

A graduate of Evergreen High School, Tricia is a lifelong resident of the unincorporated Highline area.

In the Burien area you can find BECU banking ATMs at Fred Meyer and Five Corners. You can see David and his staff at the Redondo Branch, or visit Tricia at the BECU Banking Center 12770 Gateway in Tukwila.

Membership is no longer limited to Boeing Company employees and their families. All Washington state residents are now eligible to join BECU. The minimum deposit required to join is $5.

So, click on their ad, visit a branch, and start your relationship with BECU today!

Tourists spent $615 million last year in the cities of Tukwila, SeaTac, Kent and Des Moines, according to a tourism group that represents the four southwest King County cities.

There were 5,350 tourism-related jobs that generated $181 million in wages last year in the four cities, according to a report prepared by Dean Runyan Associates for the Seattle Southside organization.

There were 2.2 million visitors to the four cities last year that accounted for $51.6 million in tax revenues for the state, the report indicated.

“For every South King County household, tourism provides $400 in taxes that residents don’t have to pay, and over 5,000 jobs that wouldn’t otherwise exist,” said Katherine Kertzman, program director for Seattle Southside, in a statement.

Group Health Credit Union, which has a branch located at 690 Strander Blvd. in Tukwila, sends us the following info on a free seminar they’re holding at their Capitol Hill branch on home financing on Tuesday, March 3rd at 6pm:

Come learn valuable information regarding shopping for and financing a home in today’s market. Seminar is free and open to the general public.

Held on Tuesday, March 3rd on 115 15th Ave East (map below). Starts at 6:00 pm and ends at 7:00 pm.

Please visit www.ghcu.org to reserve a seat.

According to their website, GHCU has been around “Since 1948 when we were founded with $45 in total assets by 9 employees of Group Health Cooperative, GHCU has learned, planned and worked to become a resource our members can trust to look out for their financial wellness.”

More info at their website.

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