That’s exactly what James McDowell had in mind when he and a group of community leaders started Olympia Federal Savings in 1906. At the time, most people in town kept their money in the safe at Talcott Jewelers, when this team of innovators had the idea of helping their friends and neighbors save their money safely and securely while providing a reasonable rate of return.
They believed that if we helped people save and earn interest, we could also use those funds to make loans and help local families build an affordable home. An innovative business model at the time turned into a financial institution that revolutionized the Thurston County economy. The average person could now save like their wealthy counterparts and a home of their own was no longer a dream, rather an attainable reality.
Fast forward to today’s consumer-driven world and there are many businesses looking for ways to help you spend your money versus encouraging you to save it. This is why we’re so passionate about providing the tools, resources and expertise for our customers to thrive.
From Health Savings Accounts (HSA) and Individual Retirement Accounts (IRA) with no annual fees to our innovative Companion Savings Account that earns a high-yield with no time limits or early withdrawal penalties; at OlyFed we have the products and strategies to meet your short and long-term savings goals. We believe in offering all customers (both new and loyal) the same product specials and keeping our fees and fine print to a minimum.
While competitive rates are an important part of our offerings, even more valuable is the trusted financial insight and care that comes from a knowledgeable partner like OlyFed. As investment expert, Dave Ramsey shares, “Earning a lot of money is not the key to prosperity. How you handle it is.” That’s why we’re focused on helping you make the best choices to improve your fiscal health and overall quality of life.
It’s not our beliefs that make us a better organization, it’s our consistent behavior. For the past 127 straight quarters (30+ years), OlyFed has received a five-star superior rating from Bauer Financial, an independent rating agency. Only 1% of the nation’s banks have earned Bauer’s top rating for so long and with such consistency. That’s what banking that’s mutual is all about.
As a mentor once shared with me, “People with good intentions make promises, but people with good character keep them.” This is why saving is so much more than numbers; it’s a consistent practice of prioritizing your passions with a plan and a partner to help achieve your greatest ambitions. It’s exactly what we do every day and why OlyFed puts savings above the bottom line.