Moapa Valley Progress
Washington Federal is celebrating 100 years of serving local communities during the month of April.
To commemorate this important anniversary, the Overton bank branch is inviting area businesses and residents to join the local team for a Centennial Celebration on Monday, April 24 from 8:30 to 4:30 at the bank, located at 140 N Moapa Valley Blvd. in downtown Overton
The branch will provide a cake and the celebration will feature a prize drawing. All residents are invited to participate in the complimentary, celebratory event.
Washington Federal first started in Seattle’s Ballard neighborhood, not far from today’s headquarters. Two local brothers, the Keans, wanted to better the community by offering steady, practical loans to help their neighbors achieve that American dream – owning their own home.
With the Kean brothers’ initial investment, the bank started making small, measured loans to the community. Deposits were accepted from local businesses and residents, and then turned around and lent back out in the form of home construction financing and mortgage loans.
In the midst of the Great Depression, the bank remained true to helping clients maintain their homeowner status. Maintaining integrity was important enough to former chairman Harold Kean that after his death, his widow found a thank-you letter from a borrower who was making his final loan payment and expressed gratitude for helping him make it through those “dark days when America about lost its soul.”
One hundred years later, Washington Federal is one of the nation’s strongest banks and one of the areas few “portfolio” lenders. All of the loans made by Washington Federal remain on their books; there’s no middleman and no Wall Street bank or insurance firm across the country where the loans are sold.
This business model ensures that Washington Federal takes a long-term approach to community banking, where deposits from the community are reinvested back into the area to help local businesses and residents grow and prosper.
“We’re excited to celebrate Washington Federal’s first 100 years in banking with our Moapa Valley neighbors!” said Overton Branch Manager Pam Duvall. “This event is our chance to say ‘thank you’ to the community for their support and trust. Throughout changing economies, Washington Federal has been committed to offering sound and safe banking. My team and I are honored to help continue to make Moapa Valley a great place to live and do business.”
