Our History

Our local community bank has served our customers and communities since 1923. Browse milestones and moments from our first 100 years in the PNW.

Unless otherwise noted, quotes in the timeline come from the book "Your First Fed: A History of First Federal Savings and Loan Association of Port Angeles (1923 - 2008)" by former CEO Karen L. McCormick and Rebecca Redshaw which was published in 2017.


Founded in Port Angeles

 First check written for $2 to the State Auditor. First home loan for $500.

First Federal Savings and Loan Association of Port Angeles

Company name was legally changed from Lincoln Savings and Loan Association to First Federal Savings and Loan Association of Port Angeles. 

First Million in Assets

The bank passed $1,000,000 in assets in 1944, at the tail-end of World War II. "First Federal's assets grew...driven by investment account growth as nervous citizens stockpiled their wealth."

Chicken Feed Dollar-Builder Swag

Savings campaign swag with placeholders to save dimes.  
The small change some call “chicken feed” 
in time becomes Big Money; 
When saved, you’ll find it can indeed  
Make rainy days turn sunny! 
DON’T spend all that “chicken feed”... 
Save some of yours, inside; 
Then plant with use, like garden seed, 
And watch it grow—with pride! 

Port Angeles Admin opened at First and Oak

An Open House was held to celebrate new Administration headquarters at First and Oak.

Port Angeles Admin opened at First and Oak

An Open House was held to celebrate new Administration headquarters at First and Oak.

50th Anniversary Celebration

To commemorate the 50th anniversary, “new stationery was printed with the words: "Our 50th Year" placed next to a new logo that was designed by employees Karry Kreider and Jean Graham. The logo featured two bold letters "F", one placed vertically over the other and both surrounded by a thin rectangular border. Gone was the original florid script and in its place was simple, contemporary type." 

50th Anniversary Celebration

"At First Federal the year 1973 marked the Association's fiftieth anniversary and it celebrated in style. The S&L's staff had grown to nineteen people, yet the close-knit, family atmosphere remained. For the week-long celebration, the women on staff wore hand made matching gold vests and men wore matching goldprint ties."

First commercial business loan

Former CEO Karen McCormick was a loan officer at the time. She remembered, "In the early days the loan process was so different. Eleven loan officers would gather in the main office upstairs twice a week. Almost everyone smoked and with the doors closed the smoke got so thick we could hardly see each other. We brought our loan applications and presented to the group. Later people would ask me jokingly, 'What did you do, raise your hands and vote?' Yes, that's exactly what we did."

First ATMS

Automated teller machines (ATMs) introduced at its Eastside and Sequim Village branches. The bank joined "The Exchange," a network of cash machines that provided account access outside of the immediate market area. Ad reads, "I'm your newest cash machine and I'm open for business 24 hours a day, seven days a week...If you're short of money after banking hours...I can help!"

First Branch in Jefferson County

Bank President Harvey “saw additional growth opportunity in neighboring Jefferson County, believing that First Federal’s unique blend of personalized customer service, professional products and services, and strong community support would resonate with the citizens of Port Townsend.” 

Online Banking Launched

"(CEO Karen) McCormick recognized that times had changed, and First Federal needed to change with them."

First Debit Cards

"Electronic banking was here to stay and the Association introduced its new debit card program in July 1997."

Cookie Jar Swag

These charming ceramic First Federal Savings & Loan cookie jars were created in the early 2000s as part of a marketing initiative. Occasionally, they can still be spotted in and around the Port Angeles area. 

First Federal Logo

"An emerald green logo with contemporary design replaced the S&L's long-time FF logo."

First Branch in Kitsap County

The Silverdale branch on Bucklin Hill Road opened in 2014. 

First Branch in Whatcom

The first Bellingham branch opened on Barkley Boulevard on November 9, 2015. Jami Peterson started there originally as a Universal Banker, then was promoted to Assistant Branch Manager, and now leads the Barkley team as Branch Manager.

Largest WA Lender of Main Street Loans

The Main Street Lending Program was a government program created in 2020 to support small and medium-sized businesses and nonprofits harmed by the COVID-19 pandemic. First Fed partnered with local businesses to support them with lending programs like Main Street and PPP loans throughout the pandemic. 

First Branch in King County

First Fed acquired the Bellevue branch from Sterling Bank and Trust. Branch Manager Nicole Zhao and Universal Banker Toshi Mei stayed with the branch, joining the First Fed team. 

To better serve the diverse community, our Bellevue team can assist customers in English, Cantonese, Mandarin, and Vietnamese.

Name changed to First Fed Bank

Our customers, partners, and employees have called us First Fed for decades. The name was legally changed in October 2021.

Earlier that year, we also updated our logo. As part of our brand refresh we began incorporating natural elements into our branches, like our signature moss walls, to embrace our PNW heritage. 

100th Anniversary

Our Centennial Celebration will be held on September 3, 2023. The free community event will take place in our hometown of Port Angeles in the area around Field Hall. 

“While we have expanded significantly since 1923, our commitment to our customers and communities has only grown stronger over the last 100 years,” said Matt Deines, CEO of First Fed. 

Everyone is invited to enjoy the festivities which will include fireworks, food trucks, beer garden, family activities, community corner, and live music performed by PNW bands.

 

Scavenger Hunt: First 100 Years

Welcome to our scavenger hunt celebrating our first 100 years in the PNW! Find the answers to these ten questions in our 2023 calendar or the milestone slides above. Ten winners will be selected from correct entries to win $100 each!

Answers can submitted via the form below or in branches. One entry per person (unique email address). Full details in Official Rules below.

 

Centennial Celebration: September 3, 2023

Save the date for this fun community event on the Port Angeles waterfront. Enjoy fireworks, family activities, food trucks, beer garden, and free live music from PNW bands.

Thank you to all our team members, leaders, customers, and communities who contributed to our first 100 years in business! We are looking forward to continuing to grow, deliver excellence, and give back to our communities in the next 100 years.

 

 

 

Scavenger Hunt Official Rules

Promotional Contests of Chance – Historic Scavenger Hunt  

NO PURCHASE, TRANSACTION OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN THIS PROMOTION 

  • Promotion Sponsor: This promotion and prize are sponsored solely by First Fed Bank, 105 W. 8th Street, Port Angeles, WA 98362.  www.ourfirstfed.com , (360)417-3204 or (800)800-1577, [email protected] 
  • Who May Enter:  You must be at least 21 years of age, be a legal resident of the United States and reside in Washington State at the time of your entry.  Full and part-time employees, Officers and Directors of First Fed ("Sponsor"), are not eligible to enter or win. 

  • Prize(s): There are a total of ten $100 cash prizes available. One entry per person. Winners will be selected randomly on or after January 3, 2023 

  • How to Enter:  NO PURCHASE, TRANSACTION OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN Winner need not be present to win but must prove eligibility. The odds of winning are dependent upon the number of entries.  The Scavenger Hunt contest begins Monday, October 31, 2022 at 9:00:00 a.m. Pacific Standard Time (“PST”) and ends at 4:59:59 p.m. PST on Saturday, December 31, 2022 ("Promotional Period"). Entry will be completed by completing the scavenger hunt online form and contact information. Online forms must be submitted before 4:59:59 p.m. PST on Saturday, December 31, 2022. 

  • Drawings: Drawings will be completed on or after Tuesday, January 3, 2023. 

  • Notification of Winner(s): Entrants need not be present at any First Fed Branch to win. First Fed is not responsible for, or liable for, any inaccuracy in any information supplied by an entrant.  Winners will be notified on or one business day following Tuesday, January 3, 2023, using contact information provided. Sponsor may select an alternative winner by random drawing if winner does not respond within two business days of notification. 

  • Publicity Rights: First Fed will request, but is not entitled to, a signed “Permission and Release Form” allowing First Fed to publicly announce Prize winner and their name as well as share photos of winner with Prize via Facebook, Instagram, Twitter, YouTube and other social media platforms,  www.ourfirstfed.com or other media channels.

  • First Fed Mailing Address: Consumers may request a list of winners of prizes greater than $25 in value at:  105 W. 8th Street, Port Angeles, WA 98362

  • Tax Responsibility: Prize winner may be responsible for applicable state or Federal taxes, determined by the cash value of the Prize.  First Fed will provide Prize winner with a 1099 form at the end of the current year as required by law.