Scones and Loans: STCU, Rocket Bakery Form ‘Sweet Partnership’

Want a loan with that scone?

According to a joint announcement from Spokane-based STCU and Rocket Bakery, that will be a real option for Spokane residents this fall. Both are merging for a co-located credit union and bakery at STCU’s new downtown branch location.

The STCU downtown branch, which opened in 2000, is moving from Crescent Court to new space being constructed in River Park Square, adjacent to a planned Urban Outfitters store at Main Avenue and Wall Street.

Rocket owners Jeff and Julia Postlewait have agreed to partner with STCU on the street level of the 2,900-square-foot branch, with seating indoors and outdoors. Both businesses plan to move into the new space by October.

Tom Johnson, President and CEO of STCU, noted cultural similarities between the Rocket, whose treats include signature pink-frosted cookies, and STCU, whose purple pens are in drawers, glove boxes and purses everywhere. Both organizations are perennial favorites in the the Pacific Northwest Inlander’s annual reader survey.

“From the moment we decided to move to this great new location downtown, the Rocket was on the short list of potential partners,” Johnson said. “Like us, the Rocket is locally grown and committed to the communities they serve.”

Jon Holland, STCU Regional Manager whose area will include the new branch, echoed those sentiments. Because the mall location required business hours to extend to 8:00 pm, STCU used that as one starting point—especially since STCU hours do not traditionally extend that long. But philosophy mattered as much as fit.

“STCU is locally-grown, as is Rocket. That was big for us. They have a passion for service, giving back to the community. They have fun. Those are all part of our core values,” he said.

Jeff Postlewait said that when STCU reached out with the offer, there was never any question the Rocket would accept.

“We have done business with STCU for many years and are very excited to partner with the credit union,” he said. “From the first phone call, we have been designing the space and thinking through ideas for this new adventure in downtown Spokane.”

We plan on checking back in with STCU leadership for a later of issue of Anthem to dig deeper into the decision to move and how they found the right business and philisophical fit with Rocket Bakery.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.

Posted in NWCUA.