SPC Members

 

Need to make a withdrawal? Call Patty Holz at 360-733-0120 or email her at pholz@spcsales.com. She can send you a check, ACH funds to your bank account, or pay your Gear Account balance from your Loan Account. 

 

Automatically deposit your settlement checks into your Loan Account! Contact Patty Holz at 360-733-0120 or email her at pholz@spcsales.com to set up this option.

The SPC Loan Account is a program where you can participate in financing the operations of your business by loaning money to the Co-op in order to reduce the amount the Co-op might have to borrow from a bank. You are paid interest on this money at the same rate the Co-op would pay when borrowing from a bank. We much prefer to pay interest to our members than to pay interest to a bank!   

 

Any funds you put in the Loan Account are considered “on demand” money, meaning you can withdraw all or any part of your money whenever you like and we will either send you a check or ACH your money directly into your bank account. Interest is paid monthly and any funds deposited by the 10^th of the month will earn interest from the 1^st. Funds deposited after the 10^th of the month do not earn interest for that month. Withdrawals may be made at any time but will not earn interest for the month in which they are withdrawn.  Funds deposited in the Loan Account are not insured.

 

Only funds from SPC advances, second advances, and final settlements are accepted into the Loan Account. During the period July 1 through October 31 there is no maximum limit on the Loan Account. From November 1 through June 30 the maximum limit for Loan Account balances is $50,000. Funds contributed over the $50,000 level during the period July 1 through October 31 must be generated during that same time period. Any funds in your account that exceed the November 1 maximum limit will be returned to you by November 10 of each year. 

 

 

If you want to know how much you have available to charge or if you want to pay your Gear Account from your Loan Account call Patty Holz at 360-733-0120 or email her at pholz@spcsales.com.

 

The SPC Gear Account allows you to purchase items at a wide variety of fisheries related stores, often times with a discount for SPC members. The store will call for a purchase order and send the invoice to SPC’s Bellingham office where it will be charged to your individual Gear Account. There is a service charge of 2% with a minimum of $0.50 and a maximum of $15.00 per invoice. Interest is charged monthly on Gear Account balances that are not paid by the next calendar month after the charge is made. Any member with a pending settlement may charge up to ½ of the amount they have in their Capital Investment account.