Since our beginning in 1906, OlyFed has been dedicated to helping with the housing needs of our community. Our neighbor-helping-neighbor business model is how we describe mutual banking at its core and it’s why we’re accountable to our customers and not corporate shareholders.
This was an innovative approach to banking 117 years ago and today it remains a socially responsible way of doing business. We believe in putting people above the bottom line and one way we do this is by dedicating anywhere from 10 to 15% of our profits each year to local community organizations whose mission is to improve the quality of life for all people who call Thurston and Mason County home.
This year we are establishing a new Affordable Housing Assistance Fund to support the spectrum of housing needs in our community. Each time we close a new mortgage loan for a customer purchasing or constructing a new home, we will be contributing to this fund in their honor.
This year, the fund will be supporting the following organizations:
1.) South Puget Sound Habitat for Humanity: An organization dedicated to helping low-income individuals and families become homeowners.
2.) Homes First: A nonprofit organization focused on providing safe, healthy and affordable rental homes for people who need them most.
3.) Interfaith Works: A collaborative organization dedicated to serving the emergency shelter needs of our most vulnerable neighbors.
With each mortgage and construction loan closing, a donation will be made to all three of these organizations to ensure the full gamut of housing needs is addressed in our community. Contributions by OlyFed to the Affordable Housing Assistance Fund are in addition to our regular and ongoing support of these three housing organizations, as well as our annual support of hundreds of other community nonprofit organizations that help improve the quality of life of our region through education, arts, cultural, youth, health, environmental and social service programs.
“We’re very excited to be able to provide additional support to the housing needs of our community,” Josh Deck, President & CEO said.
“Even better, we love that this program helps complement our existing Two Cent initiative, where we contribute two cents to a local nonprofit for every one of our customer debit card transactions. Now, both our deposit and loan customers, are directly supporting our community when they do business with OlyFed. We believe this is just another way for us to demonstrate our mutual banking values and our commitment to community leadership .”