Price, Utah – In April, Washington Federal will be celebrating 100 years of serving local communities. To commemorate, Washington Federal is inviting area businesses and residents to join the team for a Centennial Celebration on Monday, April 24 at Washington Federal, 308 East Main Street, Price.
The branch will provide cupcakes and balloons and the celebration will feature a drawing for a valuable prize. All residents are invited to participate in the complimentary, celebratory event.
“We’re excited to celebrate Washington Federal’s first 100 years in banking with our Salt Lake City neighbors! This event is our chance to say ‘thank you’ to the community for their support and trust,” said Regional President Marlise Fisher. “Throughout changing economies, Washington Federal has been committed to offering sound and safe banking. My team and I are honored to help continue to make Salt Lake City and the surrounding areas great places to live and do business.”
100 Years of Local, Common Sense Banking
Washington Federal first started in Seattle’s Ballard neighborhood, not far from today’s headquarters. Two local brothers, the Keans, wanted to better the community by offering steady, practical loans to help their neighbors achieve that American dream – owning their own home.
With the Kean brothers’ initial investment, the bank started making small, measured loans to the community. Deposits were accepted from local businesses and residents, and then turned around and lent back out in the form of home construction financing and mortgage loans. In the midst of the Great Depression, the bank remained true to helping clients maintain their homeowner status. Maintaining integrity was important enough to former chairman Harold Kean that after his death, his widow found a thank-you letter from a borrower who was making his final loan payment and expressed gratitude for helping him make it through those “dark days when America about lost its soul.”
One hundred years later, it’s still the way the bank does business today. Washington Federal is one of the nation’s strongest banks and one of the areas few “portfolio” lenders. All of the loans made by Washington Federal remain on our books; there’s no middleman and no Wall Street bank or insurance firm across the country where the loans are sold. This business model ensures that Washington Federal takes a long-term approach to community banking, where deposits from the community are reinvested back into the area to help local businesses and residents grow and prosper. The bank succeeds when the community thrives.
Meeting Today’s Financial Challenges
The bank’s long-term approach to banking has allowed them to continue to serve communities during economic events like the recessions of the 1930s and 2000s. Washington Federal CEO Brent Beardall states, “While our 100 year anniversary is a celebration, it’s also more than that. It’s a chance to show our gratitude and appreciation to our clients and communities for the continued chance to be a part of their lives. And most importantly, it’s our commitment that they can continue to count on us to provide stable, common sense banking for years to come.”
About Washington Federal
Washington Federal is a national bank that operates 238 branches in Washington, Oregon, Idaho, Utah, Arizona, Texas, Nevada, and New Mexico. Established in 1917, the bank provides consumer and commercial deposit accounts, financing for small to middle market businesses, commercial real estate and residential real estate, including consumer mortgages, home equity lines of credit and insurance products through a subsidiary. As of December 31, 2016, the Company reports $14.9 billion in assets, $10.6 billion in deposits and $2.0 billion in stockholders’ equity.