Yet a handful of mutual thrifts still remains in Washington. And a Tacoma credit union recently joined their ranks as Rainier Pacific Bank, a mutual savings bank.
Some observers believe thrifts are a dying breed.
Whereas once some 55 thrifts dotted the state, today only 25 linger. Of those 25, not counting Rainier Pacific, only six have continued to operate as mutuals. You can always look to the long-term, and make choices that are correct. It's still very much a traditional thrift, making and retaining residential mortgage loans. Then there's First Savings Bank of Renton, a single-office thrift started in 1923.