Our Community Credit Union is proud to celebrate over 80 years of dedicated service to our community!
During the war years, 1941 to be exact, logging was driving the economy of Shelton, WA, as well as being an 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 $250.00 and the first loan application was for $150.00. Total loans in 1942 reached $947.75.
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 $250.00 and the first loan application was for $150.00. Total loans in 1942 reached $947.75.
Since then, the credit union changed its name to Our Community Credit Union (OURCU) to better reflect the growing and diversified members base. In 2010, OURCU expanded it’s field of membership to include all residents in the state of Washington.
OURCU has remained true to its roots, providing personal, caring service while creating innovative and flexible financial products and services that are focused on helping members meet their financial goals through both traditional banking values and technology driven services.
OURCU has approximately 585 million in assets, over 34,000 members, and operates eight branches throughout Mason, Grays Harbor, Thurston, and King Counties. Anyone living, working, or attending school in the state of Washington can join. OURCU 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. OURCU has been helping build strong communities since 1941.
Ken Fredson former Simpson Employees Federal Credit Union Manager
“Honest As the Day Was Long”
From 1954 to 1985 Ken Fredson, Credit Union Manager, spearheaded the credit union’s growth into an era of incredible economic change, advancements in technology and inspiring community strength. What once was Simpson Employees Federal Credit Union has now blossomed and developed into Our Community Credit Union.
“This town, this community, was a perfect fit for credit unions and Ken was a perfect fit for credit unions, because he wanted to help people. He trusted people, he believed in people and they trusted him. He was honest as the day was long,” said former OURCU CEO/President, Joe Robertson.
He was known for walking the streets in town and knowing every person he saw. He understood the people and the need in the community for a financial institution that would be supportive of the hard worker, the kind of financial institution that understood life changes but the integrity of a man’s character is not necessarily defined by levels of education or social stature.
In 1958, Ken recognized the need for expansion and embarked on a new adventure of opening a second location in McCleary, WA. This would ensure that local loggers in the area had access to loan applications and a knowledgeable, caring employees to help them. Six more locations later, McCleary is still an integral part of the OURCU family of branches and has become as much a part of the McCleary history as the Simpson Door plant.
Ken believed in hiring good people – giving them the tools they needed and making sure they understood how to do their job. He created a strong work environment that encouraged staff to learn and grow, and if decisions did not work out, they’d figure out how to make it right.
“He had a total unselfish commitment to helping people,” said Joe Robertson.
The credit union continues to uphold Fredson’s legacy by helping our members and community on their path to financial success with a modern twist, adding new technology, new products and new services all developed to better serve the people.
Ken Fredson 1924-2021