Gesa’s Quarterly Business Newsletter

Equal Housing Opportunity Federally Insured by NCUA

Holiday ClosuresGesa Member Service Centers will be closed on the following days:Martin Luther King, Jr DayMonday, January 16Presidents DayMonday, February 20

Upcoming EventsMoses Lake Business Expo

Tuesday, January 17Grant County Fairgrounds,Moses Lake moseslake.com

Women in Business Conference Wednesday, January 25 TRAC, Pasco tricityregionalchamber.com

Spokane Ag Expo February 7-9 Spokane Convention Center greaterspokane.org

25JAN

17JAN

7-9FEB

WINTER2016-2017

Ensure that ownership records and employment practices are up-to-dateTo verify that your business is complying with changing guidelines it is helpful to plan regular reviews of all applicable documents and laws. This way you’ll never be caught off guard with federal or state policy changes that affect your business.

Calculate projected payroll taxes for your businessBusiness owners that find it hard to keep up with their payroll taxes may be eligible to take advantage of an IRS installment plan. Those eligible must owe less than $25,000 in combined tax, penalties and interest and need to have filed all required returns. Visit IRS.com for more information.

Perform a compliance checkupIndependent contractors and 1099 employees are subject to rules and regulations from the IRS, the U.S. Department of Labor, and the Affordable Care Act. Costly penalties and fees could result if your business is not in compliance.

Review confidentiality agreements and non-competesRe-familiarizing yourself with these documents is especially important when they have been written by out-of-state attorneys, in order to help avoid possible theft of important assets. This is also a good time to address your document retention policy, and to decide if it meets your changing business needs.

Prepare a succession planWhat would happen to your business in the event of an accident or serious health crisis? Would there be a plan in place for the organization to carry on without you at the helm? Business owners should be taking the time to discuss their succession plan with the appropriate parties, including attorneys and accountants.

Source: http://businessnewsdaily.com

January may seem early for talk of taxes, but the day-to-day decisions that you make now can have a great impact on your small business during tax season. Early preparation helps to ensure that there are no unwelcome surprises come April 18.

Below are five “checkups” that you can do to help ensure that you and your business are ready for the 2017 tax season.

Business Tips &Events

Business MemberSpotlight

CommunityOutreach

Start 2017 Off With a Tax Checkup

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If the name ‘A Affordable Mini Storage’ makes you do a double

take, you’re not alone. “The grammar is intentional” laughs Chayo McKean

of McKean Investments, LLC “I did that purposely so that we would be the very first

mini-storage listing in the Moses Lake phone book.” The trick seems to be working. After

opening in September of 2016, A Affordable Mini Storage is already at half capacity with plans

to be completely full by the spring of 2017.

The project, financed by Gesa Credit Union, had been in the works for quite a while. McKean Investments, LLC, comprised of husband and wife team Jeromy and Chayo McKean, purchased the property at the intersection of Ottmar and Valley roads in Moses Lake back in 2007. The property, initially zoned for urban residential housing, was successfully re-zoned by the McKeans for a commercial space.

By 2016 the McKeans were ready to find a permanent use for the property. After hearing from a friend about the low maintenance and expense factors associated with owning and operating a mini-storage facility, they

knew which route to take. Construction began in April of that year with Jeromy, owner of McKean Concrete & Construction in Moses Lake, doing the majority of the

groundwork. The couple constructed two on-site storage buildings themselves as well, and in September A Affordable Mini Storage was officially

open.

After calling around to several different lenders, the McKean’s chose to finance the mini-storage

facility with a Commercial Loan from Gesa. Thankfully Commercial Lending Team Leader Jeremy Wiersma

understood the value of moving the project along quickly. “Only about three days went between my initial call to him and our in-person meeting” said Chayo. “Jeremy understood our busy schedules and always got back to us quickly.”

Financing with Gesa and Jeremy Wiersma was such a positive experience for the McKeans that when a client of Chayo’s announced that he was persuing building his own mini-storage facility, Chayo passed along Jeremy’s contact info. “Jeremy came highly recommended to me, and I’ve turned around and recommended him to my client as well,” she said.

The McKeans have been very appreciative of all the help that they’ve received throughout the building of their mini-storage facility, including all the positive feedback from friends and family on social media. The venture has been so successful for them that they have been approached with offers from others offering to buy the business. The McKeans aren’t interested in selling however. “This is our retirement investment” said Chayo, “and hopefully something we’ll be able to pass along to our children in the future.”

Let our experience and local decision making help you with your financial needs. From Business Checking accounts and Cash Management solutions, to Lines of Credit and Commercial Real Estate loans, Gesa has a full suite of business products to meet your needs. Gesa is also a preferred Small Business Administration lender to assist business owners with start-ups or expansions.

Call 509.942.6155 or visit gesa.com for more information.

McKean Investments, LLC

The McKeansMcKean Investments, LLC

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Community Outreach

You don’t have to look very far to see Gesa’s presence in and around our region. Gesa aims to make a positive impact all over Eastern Washington. Below are just a few of the ways we worked to improve the communities we serve in 2016.

Investing in Our Communities

Social Connect

Gesa was awarded the 2015/2016 President’s Award in recognition of our support given to the Moses Lake community. Gesa is proud to be a recipient of this award and to help promote economic development within Moses Lake.

The Moses Lake Chamber of Commerce Annual Meeting & 75th

Anniversary Event

Gesa staff members with the 2015/2016 Moses Lake Chamber of Commerce President’s Award.

Poverty Simulations

Through a partnership with the United Way of Benton and Franklin Counties, Gesa is proud to present an experiential learning and empathy exercise. Participants assume the roles of families whose members are unemployed, homeless, living on disability or raising children on a fixed income. At the end of the exercise, participants are more aware of the daily realities faced by many trying to survive from month-to-month in our community.

A Gesa staff member role-plays with a Kennewick School District employee participant during a Poverty Simulation.

Gesa was the presenting sponsor of this annual event, which is a collaboration between Shakespeare Walla Walla, local businesses, and community partners. The event celebrates the “Day of the Dead” holiday with food vendors, live performances, and kid-friendly activities.

2016 Walla Walla Diade los Muertos

Gesa staff volunteering at the 2016 Walla Walla Dia de los Muertos celebration.

2016 Annual Tee Off for Team St. Luke’s Golf Tournament

This event gave Gesa a chance to show support for St. Luke’s Rehabilitation Institute in Spokane. The program supports youth and adult participants with physical disabilities as they receive rehabilitation care. Gesa staff members were honored to contribute to such a great cause benefiting St. Luke’s.

The Gesa team poses for a picture with St. Luke’s participants.

13th Annual Gesa Turkey Trot

For the second year, Gesa was proud to be the presenting sponsor of this event. Every year, Tri-Citians come together on Thanksgiving morning to ‘trot’ a 5K or 1 mile track before their big meals – all to benefit the American Red Cross Serving Central and SE Washington. This year’s event drew over 3,300 ‘trotters’ and raised over $73,000!

Gesa staff members and their families volunteered at the 2016 Gesa Turkey Trot.

2016 Greater Yakima Chamber of Commerce Awards Gala

Staff members were on-hand at the event as Gesa was profiled as a nominee in both the Member of the Year and Business of the Year categories. Gesa takes great pride in contributing to the Yakima economy, and is grateful to have been recognized in such a prestigious way.

Visit gesa.com/about-gesa/gesa-in-the-community to see all the ways

Gesa was a Gold sponsor at the November 3 event.

1.17%APY

17 MONTH

1.25%APY

24 MONTH 1.35%APY

30 MONTH

1.55%APY

36 MONTH 1.75%APY

48 MONTH

Personal Commercial IRA

*APY = Annual Percentage Yield. A $500 minimum deposit is required for consumer certificates. A $2,500 minimum deposit is required for business and IRA certificates. One 17 month certificate per member. 17 month consumer, business and IRA certificates have a maximum deposit LIMIT of $25,000. Early withdrawal penalties will apply and may reduce earnings. Please visit gesa.com for more information on applicable fees and terms. Certificate rates are for a limited time only. Stated rates are as of January 2, 2017 and are subject to change. Expires April 15, 2017. Federally Insured by NCUA

Apply today by calling888.946.4372

or visiting your local Member Service Center!

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