FAQs

Do you accept municipal deposits, money market accounts and CD’s? 

The Bank is not currently accepting municipal deposits except as needed for daily operation of banking service accounts such as checking, warrant clearing, trust and daily operating accounts. 


If I have a problem with my accounts, who should I contact? 

We have specialists in each product area to assist you. Start with our Bellevue Office and they will either solve your problem or direct you to the specialist on operations, credit cards, or deposit services to get you happily on your way. 


How long does it take to get a loan? 

Being a smaller operation and very experienced in all aspects of municipal lending, we can respond very fast. We usually can have a non binding term sheet in a day and firm commitments in less than a week. We have funded loans from start to finish in 10 days, but it usually takes a little longer to get documents drafted and approved by the council, board or commissioners. 


How do we get municipal credit cards? 

Municipal credit cards are authorized under RCW (Revised Code of Washington) 43.09.2855. They may be issued directly to the municipality, or through a county treasurer directed program. The municipality must complete our municipal credit card application and provide financial statement information. They must also create a policy of issuance and use, and adopt a resolution or ordinance adopting the policy of issuance as well as define the number of cards, who they are issued to, and the maximum dollar exposure. We will be happy to walk you through the process.


How long can we borrow on a term loan? 

The Bank currently makes loans to municipalities on a fixed rate basis for terms up to ten years. For in market loans beyond ten years, we require a rate reset provision. 


What are your fees? 

We do not charge fees on term loans. Lines of credit will have a fee to cover our cost of creating and maintain the line, draws, and pay downs. The cost of documenting the transaction is the responsibility of the municipality and its bond counsel.


Why should we choose Cashmere Valley Bank for our business? 

We are experienced in working with municipalities and have two full time professionals that specialize in and deal only with the municipal market. We understand the nuances and restrictions of municipal depository and borrowing; we work closely with bond attorneys and our internal staff to make sure each relationship goes well. Our decision process is quick and includes only a few local approvers that react quickly. We will also evaluate your request and if we are not the best solution, will point you in the right direction to help you solve your current need. Maybe next time we will be the right fit!