Olympia Federal Savings and Loan Association

Overview / Commentary
421 Capitol Way S
Olympia, WA 98501

Olympia Federal Savings and Loan Association is headquartered in Olympia and is the 19th largest bank in the state of Washington. It is also the 1,135th largest bank in the nation. It was established in 1906 and as of December of 2021, it had grown to 130 employees at 8 locations. Olympia Federal Savings and Loan Association has an A+ health rating.

Reviews (2)

Olympia Federal Savings

I have banked at Olympia Federal Savings near my home. I have been their customer for over 15 years. They served me really well, and we did get our house mortgage through them. We had no problems with any of our transitions. Once, needed to withdraw some money because I forgot my credit card, and I couldn't remember our account number, but within minutes, they pulled up my information and I got cash in hand with no problem.

Shady Practices

Posted by: |

I am a 33 year active duty military member who applied for a Home loan with Olympic Federal Credit Union. I have a 780+ credit score and was putting 20% down. I locked my loan in at 4.1%, just before the feds raised rates again the next week. We had just paid for and received the $900 appraisal (later we found out that an appraisal wasn't even required on a home that was only a year old). At this point, they now wouldn't do my loan without some property clean up of old vehicles, a home inspection, and a requirement to put funds in escrow to do cosmetic repairs in the home, even though the home had just received a certificate of occupancy in 2021. I was also told by my loan officer, Rachel Rudenski, that her team had a meeting and the consensus was "this really isn't the property that they want to have a mortgage with." We truly believe all of this was done so that they simply did not have to to honor the 4.1% rate...coincidently enough, rates had rose to +5% by this time. Subsequently, we went to another lender with the same appraisal (which they said wasn't even required) the next day and closed in less than 2 weeks... Fairway Independent Mortgage Corporation to the rescue!! Karen Orr was great! I would advise anyone trying to get a home loan to think twice about using Olympic Federal Credit Union. It is my opinion that they are more interested in maximizing profit rather than securing a loan for someone that is exceptionally qualified. You may find yourself incurring numerous additional costs, at a higher interest, and an unusually long time to close. Consumer beware.


Health Grade Components

FDIC Certificate #28599
Year Established1906
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD3.38%
Annual Interest Income$26.9MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$853.4MM$790.9MM
LoansQ4 2021vs Q4 2020$634.5MM$603.8MM
DepositsQ4 2021vs Q4 2020$696.5MM$650.8MM
Equity CapitalQ4 2021vs Q4 2020$109.4MM$105.8MM
Loan Loss AllowanceQ4 2021vs Q4 2020$2.4MM$2.1MM
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$3.7MM$4.5MM
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Olympia Federal Savings and Loan Association Savings Account Rates

0.35%--Companion Savings
0.35%--Business Companion Saving
0.15%$50-Super Savings Passbook
0.05%$50-Statement Savings
0.05%--HSA Account
0.05%$50-Business Statement Savings

Olympia Federal Savings and Loan Association Money Market Rates

0.35%*$300k*-Business Premium Money Market
OTHER TIERS: 0.10% $50 - $50k | 0.15% $50k - $100k | 0.25% $100k - $300k
0.15%*$100k*-Consumer Money Market Account
OTHER TIERS: 0.05% $50 - $10k | 0.10% $10k - $100k
0.15%*$100k*-Business Money Market Account
OTHER TIERS: 0.05% $50 - $10k | 0.10% $10k - $100k

Olympia Federal Savings and Loan Association Checking Account Rates

0.41%*$100*$10kJourney Checking
OTHER TIERS: 0.05% $10k+
0.15%$50-Jump Start Checking
0.15%*$150k*-Beyond Business
OTHER TIERS: 0.05% $2.5k - $25k | 0.10% $25k - $75k | 0.12% $75k - $150k
0.05%$100-Outreach Business

Olympia Federal Savings and Loan Association CD Rates

0.45%$50-New 48 Month Dream Builder CD
0.40%$100-72 Month CD
0.40%$100-60 Month CD
0.40%$100-120 Month CD
0.35%$50-New 48 Month Dream Saver CD
0.30%$100-36 Month CD
0.30%$100-48 Month CD
0.25%$100-30 Month CD
0.25%$100-24 Month CD
0.25%$100-48 Month Add On CD
0.20%$100-18 Month CD
0.20%$100-12 Month CD
0.20%$100$100k24 Month Add On CD
0.15%$100-18 Month Bump Rate CD
0.15%$100$100k15 Month Add On CD
0.15%$2.5k-6 Month CD
0.10%$2.5k-91 Day CD

Olympia Federal Savings and Loan Association IRA Rates

0.51%$50-72 Month IRA
0.51%$50-120 Month IRA
0.51%$50-60 Month IRA
0.41%$50-48 Month IRA
0.41%$50-36 Month IRA
0.35%$50-24 Month IRA
0.30%$50-12 Month IRA
0.30%$50-18 Month IRA

Olympia Federal Savings and Loan Association Locations
Thriftway Shopping Center Branch24081 Ne State Route 3Belfair, WA 98528
2420 Harrison Ave Branch2420 Harrison Ave NeOlympia, WA 98502
403 Cleveland Ave Suite C Branch303 Cleveland Ave. SeTumwater, WA 98501
4310 6th Ave Se Branch4310 6th Ave SeLacey, WA 98503
Yelm Highway Branch4860 Yelm Highway SoutheastLacey, WA 98503
Olympia Federal Savings and Loan Association421 Capitol Way SOlympia, WA 98501
Hawks Prairie Branch8300 Quinault Dr NeOlympia, WA 98516
Yelm Avenue Branch907 Yelm Avenue WYelm, WA 98597

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