We’re in our own unique category called you-profit.
As a mutual, we’re accountable to you, our customers, not corporate shareholders. With our business model, mutual means more…for your wallet, for your future and for your community.
What does that look like in everyday life? It means we’re focused on helping you get ahead with budgets, financial plans and accounts that provide safe, sustainable and meaningful ways to save. This translates to many low to no-cost product and service options.
When it comes to lending, mutual means local decision making and here at OlyFed we’ve chosen not to sell our loans because that would be like selling our relationship with you. We want you to know you can count on the fact a real, friendly and knowledgeable person will always answer the phone ready to look out for your best interests. Our non-commissioned Loan Officers are here to put you in a loan that will help, not hurt you.
Working with a mutual like OlyFed means equity is at the forefront of all we do. It means we not only provide competitive products and rates for all our customers, we also offer firs-class service with knowledgeable care and support because wealth is not a measure of worth. It’s also the reason we don’t use risk-based pricing with our mortgage loans and offer the same rates to all customers regardless of credit score.
In fact, community is at the core of who we are which is why we generously share our earnings each year with so many local health and human service, arts, education, environmental, housing and youth-focused organizations. Last year that equated to more than $460,000 in direct financial support to community partners addressing the most pressing and important issues and opportunities in our community.
That you-first philosophy means, as a mutual bank, short-term earnings are less of a motivator for us because we look long-term at making decisions that enrich the culture and quality of life for this place we call home. Our laser focus on local means small businesses get the special care they need to ensure our area’s economy flourishes. Even better, our loans, deposits, community investments and local taxes stay here and support neighborhood schools, parks and vital infrastructures.
Mutuals have always been ahead of the game, setting the trend for social responsibility. Nevertheless, can you really call it a trend when the roots of mutual banks date back to the early 1800s when groups of caring business leaders envisioned a financial organization designed to uplift their neighbors? Today mutuals like OlyFed continue the tradition of operating for the benefit of their depositors, borrowers and local communities because that’s how we ensure you profit. Simply put, mutuals matter because we put people above the bottom line.