The bank continues to be very well capitalized with equity totaling $114.4 million, which equates to a capital leverage ratio of 11.98 percent, well above the regulatory definition of well capitalized. Net loans grew by $33 million year-over-year and investments grew by $6.5 million over that same time period.

“Adding these assets strengthened the Association’s balance sheet and provided for solid growth over the 12 months,” Josh Deck, President & CEO said. “Our team has also done an excellent job of finding and implementing strategies to gain efficiencies and lower expenses to further improve our net interest margin, fostering the bank’s long-term financial strength.”

Deposit balances grew by $35.3 million year-over-year, a significant accomplishment in a tough deposit growth environment. “The Association has a healthy balance sheet and a strong equity position, which will allow us to continue to thrive and grow with our community, while also helping strengthen our local economy and housing market,” Deck said. “Moreover, OlyFed paid out $12.1 million in interest to deposit customers this past fiscal year providing secure, reliable and dependable income during a time of economic uncertainty and market volatility.”

Speaking of stability, OlyFed originated $9.4 million in affordable home loans to help individuals and families earning 80% or less of the median income in Thurston and Mason counties become homeowners. “This represents a 47% increase in affordable home loans, when compared to the previous fiscal year,” Deck said.

“In fact, in the last two years OlyFed has originated close to $16 million in affordable home loans because we know homeownership means stability, community, the opportunity to build wealth and to access capital through equity. These are key differentiators when it comes to improving education levels, health outcomes and our overall quality of life.”

Even better, the bank helped 134 households become homeowners this past year, and every time OlyFed closed on a new home loan, the bank donated from its Neighbor2Neighbor Fund to South Puget Sound Habitat for Humanity, Homes First and Interfaith Works to support the full spectrum of affordable housing needs in our community. “This amounted to more than $6,000 in housing assistance for those most vulnerable in our community,” Deck said.

The Neighbor2Neighbor Fund complements OlyFed’s Two Cent program, where the bank donates two cents to a local charity with every customer debit card transaction. In FY25, OlyFed had more than 1.73 million debit card transactions, meaning the bank contributed in excess of $34,000 to local nonprofits in our region because of customer debit card usage. In total, the bank’s charitable giving and sponsorships were more than $320,000, helping 135+ community organizations. Even better, OlyFed employees contributed more than 1,500 hours of volunteer services and 25+ team members served on the board of directors of more than 30 community and professional organizations.

“Over the course of the last five years, OlyFed has invested more than $2 million in local nonprofit and community organizations,” Deck said. “These investments have helped provide after-school mentoring and academic support for youth, performing arts programming, environmental stewardship and restoration, health and basic needs services, economic development initiatives, and so much more.”

This past year the bank successfully launched several projects to better serve the needs of its customers from bilingual care and support to the launch of several new digital tools and resources to enhance financial security, document access, card control services and much more. These updates and upgrades resulted in more than 240 online account openings and 30,000 calls to the Association’s customer care center.

OlyFed’s commitment to excellence was recognized by several publications as the bank was honored numerous times over as one of the area’s best financial institutions and for the past 147 straight quarters (36+ years), OlyFed has received a five-star superior rating from Bauer Financial, an independent rating agency. Only one percent of the nation’s banks earned Bauer’s top rating for so long and with such consistency.

“Our success starts with our people,” Deck said. “We regularly survey our teams to determine their overall satisfaction of working at OlyFed, and the results inspire me as our happiness factor scores continue to far surpass our targets and industry benchmarks.”

“It’s evident that as we invest heavily in organizational culture, employee training and benefits, these efforts continue to pay big dividends in terms of OlyFed being an award-winning place to work and do business,” Deck continued.