OlyFed continues to experience solid demand for its products and services with $33.3 million in branch deposit growth and $21.1 million in branch loan growth this fiscal year. Furthermore, the bank has paid out $10.4 million in interest payments to depositors year-to-date.

Part of the bank’s overall loan growth this fiscal year includes 36 affordable home loans to households earning less than 80% of area median income.

“It’s inspiring to hear the stories from the people and families that benefit from our Affordable Home Loan Program,” Josh Deck President & CEO said. “These are households that would not normally qualify to purchase a home, and, in many cases, our program is lowering their monthly payment below what they were paying for rent.”

“We know homeownership means stability, community, the opportunity to build wealth and to access capital through equity,” Deck said. “These are key differentiators when it comes to improving education levels, health outcomes and our overall quality of life, which is why this program plays such an important part of the value we deliver to our community.”

“It’s wonderful our community sees this value, as we’ve grown by hundreds of new households this fiscal year,” Deck said.

“A big part of that growth can be attributed to our expansion into Lewis County and the addition of our school affinity card program. In fact, because of our school branded debit cards, we’ve seen a significant increase in the number of new checking accounts, and we’ve experienced year-over-year growth of more than 32,000 debit card transactions.”

That growth in debit card transactions has also created a direct impact for the community through the bank’s Two Cent Program that supports both a local nonprofit and school district every month. Through this program OlyFed donates two cents to these community initiatives every time a customer uses their debit card. So far, this fiscal year through all its charitable giving programs, OlyFed has contributed $239,000 to vital local services and causes, and its employees have volunteered more than 1,000 hours in the community.

“I am really proud of our team and how we continue to look for ways to improve our products, services and impact in the community, while managing our revenue and expenses in a fiscally sound manner,” Deck, President & CEO said.

“Our organizational culture is truly one that’s committed to excellence in all we do and that’s evidenced by our recent recognition as the Best Bank to Work For in the nation by the Independent Community Bankers of America.”