Patty Cacak, municipal bonds expert, dies at age 55

For 26 years, Patty Cacak and Al Worden had a running wager: Over lunch each November they'd make a prediction for the interest rate on 30-year government bonds for a particular day the following year.

Then on that day they would meet at a South Lake Union restaurant and the loser would have to buy lunch.

"In all those years, it was pretty much even-steven," Worden said. "Every now and then one of us would get off on a run, winning three or four in a row, then we'd have a lot to crow about."

In November, when Worden, now retired from the securities business, learned his longtime "rival" was in the hospital, he sent her a note: "Hey Cacak," he said. "You owe me lunch."

Ms. Cacak, a specialist in municipal bonds, died Jan. 5, only weeks after being diagnosed with leukemia. She was 55.

Those who knew her describe a woman with a big heart who embraced family and all kinds of friends, and kept a special place for those less fortunate than herself.

Her sister, Carol Allen, said the family used to marvel at the collection of people Ms. Cacak would bring home from school when she was a child. "My dad would say you never knew who might be having supper with us," Allen said.

A resident of Bainbridge Island, Ms. Cacak enjoyed traveling, particularly taking local and regional trips with her partner of 19 years, Sid Mais, and their Jack Russell terrier, Lincoln.

"Patty enjoyed places with striking natural beauty,... " Mais said. "She was an incredible woman."

Ms. Cacak was born in Nebraska and attended the University of Nebraska at Kearney, where she obtained a degree in business administration. She later received a master's degree in business from Seattle University.

At what then was Foster & Marshall, she specialized in municipal bonds and later joined investment firm Piper Jaffray as a senior bond trader and underwriter. In 1994, she joined Seattle-Northwest Securities as a senior vice president.

Christmas was her favorite time of year, friends say. She delighted in the traditions of the holiday — the time spent with friends, the seasonal displays, the Christmas ships — and had a special talent for selecting the perfect gift for loved ones.

"She was a world-class shopper, and every gift she bought was special," her sister said.

Longtime friend Joanne Llwelyn said she and Ms. Cacak first met over the phone 28 years ago when both worked at Piper Jaffray.

"My first introduction to her was her voice," Llwelyn said. "When I talked to Patty, she had a way of making me feel important, like she had all the time in the world for me, though I know she was very busy."

Ms. Cacak spread her passion around — supporting the Tibetan Nun Project, an effort dedicated to educating and supporting nuns in India from all Tibetan Buddhist lineages, as well as the Kitsap Humane Society. She also helped subsidize the work of a local Bainbridge woman who took in stray animals.

In one of the last conversations Allen had with her sister, Ms. Cacak told her what she told many of her friends in her final weeks: that she'd lived a wonderful life.

"On New Year's Eve ... she called our parents to wish them a Happy New Year," Allen said. "At that point she could only say a few words. That was one of the greatest gifts I think she could have given them."

Ms. Cacak is survived by her parents, Verda and Lawrence Cacak of Fairbury, Neb.; her sister and brother-in-law, Carol and Jay Allen, of Broken Bow, Neb.; her brother and sister-in-law, Harold and Jan Cacak, of Orange County, Calif., and her partner, Sid Mais of Bainbridge Island.

A memorial service will be held at 3 p.m. Saturday at Unity Church, 200 Eighth Ave. N. in Seattle, followed by a reception.

In lieu of flowers, donations may be made to the Tibetan Nuns Project, www.tnp.org; The Kitsap Humane Society, www.kitsaphumane.org; and The Puget Sound Blood Bank, www.psbc.org.

Lornet Turnbull: 206-464-2420 or lturnbull@seattletimes.com