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Washington Federal: Washington Federal Savings
built 281 days ago
Washington Federal is the holding company for Washington Federal Savings and Loan Association, which operates over 100 banking offices in Washington, Idaho, Oregon, Arizona, Texas, Nevada, and Utah. The association provides savings, money market, checking, and individual retirement accounts, as well as certificates of deposit. Its funds are primarily obtained through public savings deposits, repayment of loans, borrowings, and retained earnings. Washington Federal ... originates real estate and consumer loans. A subsidiary is engaged in the insurance business.
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Washington Federal is the holding company for Washington Federal Savings and Loan Association, which operates about 120 full-service offices in Arizona, Idaho, Nevada, Oregon, Texas, Utah, and Washington. The company ... has a loan production office in Colorado. The thrift, which was founded in 1917, offers customers standard deposit products, including CDs and checking, savings, and money market accounts. The company's lending activities mainly consist of single-family residential mortgages (about 80% of its portfolio); construction loans account for another 10%. Washington Federal also has real estate and insurance subsidiaries. It acquired New Mexico bank First Federal Banc of the Southwest in 2007.
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Washington Federal has approximately 120 offices located in the states of Washington, Oregon, Idaho, Arizona, Utah, Colorado, Texas and Nevada. Through subsidiaries, the association is engaged in real estate development and insurance activities.
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On May 20, 2003, Washington Federal announced its planned acquisition of the four-branch, Seattle-based United Savings and Loan Bank. United Savings, founded on July 6, 1960 by Robert and Ruth J. Chinn, was the first Asian American-owned savings and loan in the United States. The completion of the sale was announced that September. The reported purchase price was $65 million.
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Concurrent with the United States' entry into the First World War, the predecessor to Washington Federal entered into business itself, taking root in a bustling section of Seattle known as Ballard. The community of Ballard, like the city it was a part of, was growing by leaps and bounds. Its mostly Scandinavian residents and its predominate businesses of fishing and milling, added to the Northern European flavor of the community. Aside from providing the perfect setting for a largely immigrant, Scandinavian neighborhood, the fishing and milling industries supported many of Ballard's families and fueled the community's growth, creating the need for financial institutions, which historically had played in integral role in the development of burgeoning communities. One such financial institution, the Ballard Savings and Loan Association, was the predecessor organization to the Washington Federal of the 1990s.
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Washington Federal is a financial holding company. The company offers savings and loan services through its proncipal operating subsidiary Washington Federal Savings. The company has operations in Washington, Oregon, Idaho, Nevada, Utah, Texas, and Arizona in the US. It is headquartered in Seattle, Washington and employs about 750 people.
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