During the war years, 1941 to be exact, logging was driving the economy of Shelton, WA as well as being an and important contribution to the war effort. Charlie Savage, a union leader for the Simpson Logging Company, knew the loggers were being turned away from the local bank for loan requests to buy cars, household appliances and other basic financial needs. The Simpson employees were in need of a banking alternative.
After much discussion and consulting with the neighboring Rayonier Federal Credit Union, the newly formed Simpson Employees Federal Credit Union filed a charter and received approval on December 3, 1941. Now anyone who worked for any Simpson operation could join the credit union. The maximum savings deposit was capped at $250 and the first loan application was for $150. Total loans in 1942 reached $947.75.
Fast forward to present day and Simpson Employees Federal Credit Union has since changed their name to Our Community Credit Union and grown to $352 million in assets. Anyone living, working, or attending school in Washington State can join. OCCU is large enough to offer a wide variety of products and services yet has not lost its purpose to provide personal, caring service to their membership.
OCCU currently has 29,000 members, operates 8 branches throughout Mason, Grays Harbor and Thurtson County and Vashon Island in King County.
View our Annual Report: