The Association continues to be very well capitalized with equity totaling $112.2 million, which equates to a capital leverage ratio of 12.16 percent, well above the regulatory definition of well capitalized. So far, this fiscal year, OlyFed has paid out $3.1 million in interest to deposit customers in the first quarter. In addition, the Association grew gross consumer and business loan balances by more than $6 million, helping to strengthen the local economy and housing market.

“We had a solid first quarter and it was great to see continued improvements with our operational efficiencies and net interest margin which further helps advance the overall health and financial strength of the Association,” Josh Deck, President & CEO said.

“This month OlyFed celebrates 118 years of doing business in our region and a big reason for our longevity and ongoing success is our mutual structure of putting the needs of our customers and community first.”

In fact, this past quarter, OlyFed contributed $85,000 to local nonprofits along with more than 330 volunteer hours by its employees. In addition, the Association launched its new Outreach CD, to help community organizations maximize their reserves. To assist its retail customers with their personal savings, OlyFed also introduced its RoundUp program which allows an individual to round up any purchase to the nearest dollar and deposit the spare change into their designated savings account.

“Our entire team of OlyFedders continue to look for new opportunities to expand our product and service offerings to better meet the needs of our friends and neighbors that call the South Sound home,” Deck said.

“I am really proud of the investments we make to enhance the quality of life in our area and to see that dedication and our values lived out by all of our employees.”

*Financial results shared in this report are unaudited and are provided for informational purposes. Year-end financial statements are audited and prepared in accordance with the regulatory reporting requirements of the Federal Deposit Insurance Corporation (FDIC) and will be released in summer 2025 after the audit and final report are completed. Olympia Federal Savings (OlyFed) is *an equal housing lender and member FDIC.