For Washington Federal, a major milestone was achieved as the strength of its high net worth and the record-setting ratios elevated it to the position of “one of the strongest financial institutions in the country.” Then, on November 17, 1982, another crowning achievement was completed when the Association converted from a mutual form of ownership to a federal stock association and shares in the vigorous Northwest thrift became available to the public.
Over the next several decades, Washington Federal continued to grow, as the nation’s prosperity increased. The company leveraged its strength to take advantage of emerging opportunities. Washington Federal expanded into Idaho, Oregon, then Utah, the Tucson and Phoenix areas of Arizona and, most recently, into Nevada, Texas and New Mexico.
Now, 95 years after its modest beginnings, the little savings and loan which started with assets of just $500,000 in 1917 has grown to become one of the strongest financial institutions in the nation with assets of over $13 billion, more than 160 branches and a reputation for financial strength and customer service that is second to none.
Happy 95th Birthday Washington Federal!