Connecting Businesses to Resources

Helping Spokane Valley businesses grow and expand their services is an important focus for the city’s Economic Development Department. The department engages with businesses of all sizes and sectors to provide information, technical assistance and connections to funding and industry resources. Below is one example of how the department is providing this assistance.

Connecting Canopy Credit Union to new grant funding

Canopy Credit Union's Charlotte Nemec shows informational materials to city employee Susan NielsePart of the mission of the city's Economic Development Department is to alert Spokane Valley businesses of opportunities for grants and other business funding that they may not know about, and provide additional support and encouragement to pursue them.

In fall 2023, the Washington State Department of Commerce posted a grant opportunity through the Community Reinvestment Project (CRP) that would provide funding for financial coaching and mentorship for Black, Latine and tribal communities. The city's economic development specialist at that time, Susan Nielsen (left in photo above), provided the grant information to numerous Spokane Valley-based businesses and organizations for consideration. Canopy Credit Union was one of those businesses. The credit union applied and received a $375,000 grant to help bolster their financial coaching program and offer two specialized, affordable loan programs for low-income and marginalized populations in the community. 

Canopy Credit Union is thrilled to use this funding to support community members in Spokane Valley, as well as Spokane, Stevens and Pend Oreille counties. For Canopy Credit Union president/CEO Charlotte Nemec (right in photo above), having the city's economic development team reach out was crucial. 

"I am so grateful that Susan reached out to Canopy and put this phenomenal grant opportunity on our radar. By sharing this information, the City of Spokane Valley supported Canopy," said Nemec.

Canopy is using the grant funding to employ a full-time financial coach who works with community partners to provide financial workshops. A total of three other Spokane-based organizations also received funding, but Canopy Credit Union was the only institution in Spokane County to receive a grant. 

“It’s affirming to know we are helping Spokane Valley businesses and organizations to grow, expand their services and their workforce, and that Canopy Credit Union was selected for this grant that will benefit individuals, businesses and organizations throughout the Spokane Valley community,” said Nielsen.