Overview / Commentary
253-584-2260
9611 Gravelly Lake Dr Sw
Lakewood, WA 98499

Harborstone Credit Union is headquartered in Lakewood and is the 11th largest credit union in the state of Washington. It is also the 218th largest credit union in the nation. It was established in 1955 and as of June of 2018, it had grown to 230 employees and 79,748 members at 17 locations. Harborstone Credit Union's money market rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Harborstone Credit Union is open to those who live, worship or work in the state of Washington. Membership is also open to active, retired, or reserve military and to active or retired civil service employees regardless of place of residency.
See current membership details

Related Posts

Major Reward Checking Changes Effective March 1, 2018 - Cap Drop To $4K, Rate Increase To 4% - 2/6/2018

Per a letter dated 1/30/18, Harborstone CU will make major changes to their reward checking account "BreakFree Checking" effective March 1, 2018. When qualifications are met: Reward rate increase from 1.82% to 4.00% APY. Balance cap for rewards rate decrease from $20,000 to $4,000. ATM surcharge refunds decrease from unlimited to maximum of $10/month. No change to qualification requirements nor to rate for balances over the cap. Letter indicates this applies to all BreakFree Checking accounts, no grandfathering of existing accounts. Website does not appear to have been updated for this change. They've also added a rewards tracker to allow you to track your progress to completing the requirements.

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Charges From The Account

I seem to have a problem with this credit union withdrawing the larger abount first and then a smaller amount.  There have been times where there was enough in my account to pay for the small amount and not get an overdraw fee of $30 but they processed the larger amount first, charged me $30 for that and then took the small amount out and charged me another $30.  Wells Fargo never did this to me.  They always took the smaller amount out.  It used to be a good credit union, when I was with them years ago, but now they are getting to big and they don't care about their customers.  I have done a few test runs with this credit union and everytime the larger amout clears first and then the smaller amout clears.  I will be taking my business else where that does not practice this kind of money making scheme.  

Terrible Experience

Posted by: Mizer | Oct 30, 2017

I personally had a terrible experience with them. Several matters took way to long to resolve. I finally switched banks and paying my loan with my new account has a 12 dollar flat convenience fee per payment. Thats over 10 percent the loan payment value. Any institution that charges 10 percent per on time payment is doing it wrong. Do not get a loan or bank with them.

Avoid This Credit Union

Posted by: shamllama | Jul 23, 2017

I was with this credit union for over 5 years and had several bad experiences. Their interest rates on credit cards and loans are very high. Credit cards at 18%+ and auto loans at 5%+ and I have good credit. They don't periodically re-evaluate interest rates on their credit cards like many good credit unions so you are stuck with a high rate permanently. Their online banking was very good 5 years ago when I first joined but has not had a single update since and is now quite dated. Their credit card also doesn't integrate with online banking and must be managed through a completely different web site. It doesn't even support eBill for their credit card through the bill pay system.

Two recent bad experiences stand out and have pushed me to switch to a different bank.

I asked about personal loan products and was directed to a loan officer who demanded to know the specific name of the product I wanted. When I told them I was looking for a personal loan they acted confused and retorted with "Do you mean a 'signature' loan?" as if I'm supposed to know their product naming schemes. They didn't offer any explanation for their products and then finally offered a personal loan with a rate higher than most credit cards.

Another time I went into the branch to setup overdraft protection on my account. I was told I'd need to come back another day because they didn't have loan officers covering their full branch hours. There were no publicly listed hours for loan officer availability, so I had to guess when to return. I returned another day and managed to track down a loan officer to discuss overdraft protection for my checking account. Partway through this process I was given the option to add "extended" overdraft protection to my account. I accepted only to find out later that this was actually a personal line of credit and was reflected as a hard inquiry on my credit report. None of this was mentioned by the staff member.

As noted by other reviewers, this credit union has serious issues with customer service and product interest rates. If you need a good credit union in the Puget Sound, look to BECU or WSECU instead.

No More Harborstone

Well. Another bank doesn't get my business. Harborstone Credit Union. Keep in mind that I've been a member since 1987. I went minus in our checking account and covered it the same day. I forgot to make a transfer the night before from one of our two savings accounts we also have with them. They charged us $90 for three payments that tried to clear. Consequently, they blocked our bill pay account. Their bill pay service, just happens to be a third-party vendor and, Harborstone claims their hands are tied. Really? They can't even work with the vendor they've selected for their bill payment service????? Once again...the money-paying customer takes it in the shorts! Not only have they taken $90 from me, they've made it so I cannot pay bills for three days due to the blocked account status. WHAT DO THEY DO WITH THE $90? PUT IT IN THEIR CHRISTMAS KITTY? DO NOT DO BUSINESS WITH HARBORSTONE CREDIT UNION!!!!

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Health

Health Grade Components

Overall
NCUA #66399
Year Chartered1955
Employees230
Primary Regulator
Profit Margin
Return on Assets - YTD0.8%
Return on Equity - YTD7.02%
Annual Interest Income$22.4MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$1.33B$1.22B
LoansQ2 2018vs Q2 2017$1.01B$837.9MM
DepositsQ2 2018vs Q2 2017$1.09B$1.07B
Equity CapitalQ2 2018vs Q2 2017$148.5MM$143.8MM
Loan Loss AllowanceQ2 2018vs Q2 2017$7.5MM$6.6MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$3.9MM$3.2MM
Real Estate OwnedQ2 2018vs Q2 2017$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Harborstone Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Harborstone Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$100-IRA Savings
0.10%--Holiday Savings
0.05%$5-Savings
0.05%--Set Aside Savings
0.05%$100-Business Savings
0.05%$5-Minor Savings
0.05%$5-Jet Set Savings

Harborstone Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$1m*-Money Market Account
OTHER TIERS: 0.10% Up to $10k | 0.25% $10k - $100k | 0.50% $100k - $250k | 0.70% $250k - $1m
0.90%*$1m*-Business Money Market
OTHER TIERS: 0.10% Up to $10k | 0.25% $10k - $100k | 0.50% $100k - $250k | 0.70% $250k - $1m

Harborstone Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*-$4kBreakFree Checking
OTHER TIERS: 0.05% $4k+
0.40%*$250k*-Business Interest Checking
OTHER TIERS: 0.05% Up to $10k | 0.10% $10k - $25k | 0.15% $25k - $100k | 0.25% $100k - $250k
0.25%*$10k*-Ultimate Value Checking
OTHER TIERS: 0.05% Up to $5k | 0.15% $5k - $10k

Harborstone Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.22%$500-48 - 60 Month Jet Set Certificate
2.12%$500-48 - 60 Month CD
1.87%$500-36 - 47 Month Jet Set Certificate
1.76%$500-36 - 47 Month CD
1.61%$500-30 - 35 Month Jet Set Certificate
1.56%$500-24 - 29 Month Jet Set Certificate
1.51%$500-30 - 35 Month CD
1.46%$500-24 - 29 Month CD
1.06%$50k-12 - 17 Month Jumbo CD
1.06%$50k-18 - 23 Month Jumbo CD
1.00%$500-12 - 17 Month Jet Set Certificate
1.00%$500-18 - 23 Month Jet Set Certificate
0.95%$500-12 - 17 Month CD
0.95%$500-18 - 23 Month CD
0.95%$500-Business 12 Month Certificate
0.65%$50k-6 - 11 Month Jumbo CD
0.60%$500-6 - 11 Month Jet Set Certificate
0.55%$500-6 - 11 Month CD
0.55%$500-Business 6 - 11 Month Certificate
0.35%$500-Flexible 36 Month Jet Set CD
0.30%$500-Flexible 18 Month Jet Set CD
0.25%$500-Flexible 12-17 Month Jet Set CD
0.15%$500-Flexible 36 Month CD
0.10%$500-Flexible 12-17 Month CD
0.10%$500-Flexible 18 Month CD

Harborstone Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.12%$100-5-Year Fixed Rate IRA Certificate
0.95%$100-18-Month Fixed Rate IRA Certificate
0.95%$100-1-Year Fixed Rate Accumulator IRA Certificate
0.95%$100-2-Year Fixed Rate Accumulator IRA Certificate
Locations

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