What it means to be an OlyFedder
Imagine a workplace where everyone is thrilled to be there … where a smile and a thumbs-up is a standard greeting … and the most-often-heard words are: “Thank you!” Welcome to OlyFed – a culture that’s inclusive and giving.
Committed to Equity
We believe our neighbors and communities should have equitable access to opportunities that allow them to flourish in all their life endeavors. As a result, when diversity, equity, inclusion and belonging are addressed, we will be stronger economically, healthier physically and mentally, and better prepared to meet the challenges we face. We are here to support this mission.
Serving the Community
Financial integrity and doing good works have been written into our DNA since 1906. It’s really pretty easy to be an OlyFedder: stay tight with smart financial practices, always be kind and helpful to everybody, and who knows what great rewards the future will give?
As a mutual savings bank, OlyFed is beholden to depositors and borrowers, not corporate shareholders. Our focus is on the community and customers we serve. One of the ways we show this is by contributing 10% of its profits to support hundreds of local charities and organizations.
Beyond Branches & Banking
Giving back to our community as individuals is equally important; you may have seen #olyfeddersdoitbetter across our social channels. That’s because OlyFedders are equally invested as private citizens volunteering for just about every civic event and fundraising drive.
You’re an OlyFedder when you value your community enough to give a piece of yourself to sustain and protect it. But most important, OlyFedders are all about caring and compassion: always looking for ways to say: “yes, we can help.”
Authenticity & Belonging
The only thing more rewarding than being an OlyFedder who banks here … is being an OlyFedder who works here! We’ve got a strong track record of satisfaction by employees and customers alike. We’ve been repeatedly named a Top 100 Place to Work in Washington state and promote work-life balance, value authenticity, celebrate diversity and support our community.
We are about giving our people the opportunity and encouragement to rise as high as their talents and initiative will take them. No one exemplifies this more than our own Board Chair, Lori Drummond, who joined OlyFed in 1984 as a receptionist and later advanced to CEO.
Committment to Equity
Our Commitment to Diversity, Equity, Inclusivity & Belonging
OlyFed is known for its extraordinary customer service and community generosity and continues to build and strengthen its compassionate corporate culture by investing in its diversity, equity, inclusion and belonging (DEI&B) efforts.
For years, the organization has operated its Better Fedder Committee, which is comprised of employees from across the bank who volunteer to lead recognition events, professional development activities and employee feedback initiatives to ensure OlyFed’s values are lived out each day.
In 2020, the bank’s senior leadership team saw an opportunity to enhance and maximize its culture-building work by implementing a robust DEI&B program.
For OlyFed this is a long-term commitment to enculturate inclusivity into the bank’s DNA so that the organization continues to grow, learn, advance and change along with the needs of the community.
“We believe our neighbors and communities should have equitable access to opportunities to allow them to flourish in all their life endeavors,” Abby Ferrari, AVP/Learning & Development Manager and OlyFed DEI&B Committee Chair said. “We choose to take responsibility for making positive change happen and we are committed to nurturing a welcoming work and business environment.”
The bank started its DEI&B efforts by consulting with local experts who helped develop a framework for a successful plan to deliver equitable outcomes and organizational transformation. This plan included training and education opportunities for all staff so that everyone on the OlyFed team understood the organization’s goals and could speak and share their backgrounds and experiences for the benefit of each other.
There are several measures throughout OlyFed to meet our goals. These include:
- Recruiting and retaining a more diverse workforce and customer base;
- Ensuring human resource practices are equitably implemented;
- Making sure all employees have the opportunity for growth and development;
- Products and services reach underrepresented communities/groups;
- Ensuring diverse vendors are utilized;
- Developing a mentorship program; and
- Investing in community programs that serve the unique needs of all people in our community.
Along with a comprehensive training program, the bank formed a DEI&B Committee to uphold OlyFed’s values and to drive the organization’s efforts to cultivate an equitable and inclusive environment. Members of the committee applied to be a part of the team and represent a variety of departments and positions.
One of the goals for the Committee is to roll out a monthly focus on a particular topic so that OlyFed employees can grow in their awareness and knowledge of culture, race and ethnicity, gender identity, socioeconomics, physical and mental health and much more.
Equity in Serving Community Needs
Our Two Cent program provides two cents to a different designated nonprofit each month for every customer debit card transaction. The program has provided more than $150,000 in charitable support to more than 50 local nonprofits since its inception.
In fact, in 2022 OlyFed contributed more than $460,000 in philanthropic support to the community of which approximately 35% of the bank’s donations assisted local nonprofits with a DEI&B-focused mission of recruiting and serving a diverse population.
“While we’re proud of what we’ve been able to accomplish in the past few years, we recognize there is still much more work to do and lots of room for us to grow,” Ferrari said.
Products & Services that Meet Unique Needs
Another important matter to OlyFed is developing and delivering products and services that serve all members of the community and that are affordable, accessible and socially responsible. The bank recently did research and learned that more than 17,000 people living in Thurston County are either unbanked or under-banked, meaning they utilize high-fee credit or check-cashing services. OlyFed’s Product Development Team responded by creating the bank’s new Community Checking program that not only includes a customized account designed to meet the needs of the unbanked and underbanked in the region, it also includes a robust financial education program focused on budgeting, managing credit and account security.
The Community Checking program complements the bank’s Affordable Homebuyer Program, which is designed to help low-to-moderate-income individuals and families realize the dream of homeownership.
Our goal is to not only advocate for the advancement of our neighbors and community members, but it’s also to collaborate and innovate new ideas that help all people in the South Sound prosper.
OlyFed Core Principles
We are a local financial institution with a proven commitment to the communities we serve. Our employees are knowledgeable and dedicated to providing personalized competitive financial services that will consistently exceed our customers’ expectations.
We are financial partners that build relationships, celebrate diversity, and use our resources to help our communities succeed.
Be inquisitive and seek knowledge | Live your word | Committed to YOU! | Always celebrate successes | Be authentic (and kind!) | Stewards of the community | Commitment to life-long learning | Wow the customer | Here for you, here for good