September 24, 2024

Harborstone Credit Union

Bullock (left) and LeFree

Harborstone Credit Union plans to merge with Community 1st Credit Union, headquartered in DuPont. The partnership has been unanimously approved by the boards of directors of both institutions, and is subject to approval by state and federal regulators, as well as a vote by the membership of Community 1st Credit Union. The combined credit union will continue to operate as Harborstone Credit Union under the leadership of President and CEO Geoff Bullock. Community 1st and Harborstone will combine to offer additional products and services, including green lending programs, and will increase their presence with five additional branch locations serving the DuPont, Lynnwood, Olympia, Tacoma and Tukwila communities. After the merger, the combined credit union will serve more than 100,000 members with 21 branches, a responsive call center and omnichannel digital service channels. This transaction follows two Harborstone Credit Union-announced bank purchases in the last year, with the acquisition of Seattle-based First Sound Bank closing on May 16, 2024, and the announcement of the SaviBank acquisition, located in Mount Vernon, set to be complete in early 2025. Harborstone Credit Union is headquartered in Lakewood. Founded in 1955 as McChord Federal Credit Union serving airmen on McChord Air Force Base, Harborstone has 16 branches located throughout King, Pierce, and Thurston counties. Founded in 1925, Community 1st Credit Union was founded in 1925, and is the longest-operating credit union in Washington. Dan LeFree is president and CEO of Community 1st Credit Union.