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Olympia Federal Savings

Putting people first

For more than a century, Olympia Federal Savings (OlyFed) has built its success by staying true to its community and people. 

With nine locations and just over $1 billion in assets, the 119-year-old institution has earned a reputation for putting people first—whether it’s the customers it serves, the colleagues who power its operations or the neighbors it supports across the South Puget Sound region.

This commitment drew James Vanderholm to join the team as CFO about 18 months ago. After years auditing financial institutions around the country, he had seen what separated banks that truly served their communities from those that only claimed to. OlyFed stood out. 

In fact, its culture of service and accountability was visible long before he ever walked through the doors. “You can tell when a bank truly walks the walk,” Vanderholm says. “Here, people and community come before profit, and it shows.”

Leading by example

Fifteen years ago, OlyFed’s CEO Josh Deck traded a life on the road for a community that felt like home. As a former bank examiner with the U.S. Department of the Treasury, he had spent years visiting financial institutions across the country, observing what made some banks thrive while others struggled to connect.

When Deck first visited Olympia Federal Savings, something stood out. The community bank’s focus on people, purpose and local progress was different from anything he’d seen. “OlyFed doesn’t try to grow past its communities,” he says. “We grow with them.”

That mindset continues to define the organization. Every decision ties back to the well-being of employees, customers and neighbors. “Our purpose is simple: Help our neighbors and support the place we all call home,” Deck says.

Fostering connection every single day

For Casey Kilborn, VP and director of business development, every morning at OlyFed begins with energy and connection. Teams gather in daily huddles to share updates, talk through business goals and check in with one another. 

“We make sure people feel excited when they come in,” he says. “Everyone greets each other, tells stories and starts the day together.”

Kilborn says that sense of teamwork extends beyond the office. As a longtime Olympia resident, he also coaches high school basketball, a role the bank has encouraged and supported for more than a decade. In fact, one of his former players now works at OlyFed’s Lacey branch. “It’s special to see those relationships come full circle,” Kilborn says. “It shows what kind of place this is.”

A culture of giving and growth

Over the past five years, Olympia Federal Savings has given more than $2 million to local causes, which is 10% to 20% of its annual profits. The community bank’s 115 employees also contribute more than 1,500 volunteer hours each year and hold leadership roles on more than 40 nonprofit boards.

But Ryan Betz, EVP and chief strategy and marketing officer, says OlyFed’s culture of service runs deeper than numbers. He shares stories of employees who go the extra mile, like a branch manager who spent her evenings after work teaching a new employee who had recently arrived in the U.S. how to drive. Another employee learned sign language to better serve a hearing-impaired customer.

“It’s just who we are,” Betz says. “People here look for ways to help. It’s not something we ask them to do. It’s what they want to do.”

OlyFed’s commitment to its employees is just as strong. Every employee participates in a profit-sharing program and receives full health coverage, reflecting a philosophy that shared success is more valuable than short-term gain. 

The community bank’s stability reinforces that approach: In 119 years, OlyFed has had just eight presidents—a testament to its consistency and dedication to its people. 

Transparency is another cornerstone of OlyFed’s culture. “We want every employee to have 100% transparency and understand what we’re doing and how decisions are made,” Betz says. “That’s helped build trust across the bank and confidence that leadership makes decisions in the best interest of customers and employees.”