Credit Unions Look to Serve Marijuana Businesses

This isn't your father's credit union. Credit unions, long known for loans to everyday Joes, are looking into a controversial new market: the cannabis industry. Since the state began licensing dispensaries, interest in marijuana-related businesses in Michigan is rising. This could allow credit unions and other financial institutions...

Tax Cuts a Boon for TC Businesses

Sweeping federal legislation that provides lucrative tax cuts to businesses also is helping to fatten the wallets of Traverse City State Bank’s employees. The bank announced in February that it was giving each of its 90 employees a one-time $750 bonus because of the federal tax...

Behavioral Finance Explains Why You Aren’t Saving

Americans are not saving enough for retirement. Behavioral finance attempts to answer why there is a lack of retirement savings and, more importantly, makes recommendations as to how to fix the deficit. Saving is not easy. There are competing demands in raising children and purchasing a...

Show Me the Money: High loan demand spurs pressure for new deposits

Banks are stepping up the hunt for deposits in order to meet strong local demand for loans. “For the first time in seven years, I’m noticing a competitive pressure on deposits,” said Connie Deneweth, chief executive officer of Traverse City State Bank. “Banks are raising interest...