Sound Federal Savings history

In 1935, the state-charted savings and loan converted to a federal charter and adopted Ballard Federal Savings and Loan Association as its official corporate title.

Since 1947, MFS has contributed millions to community groups and charitable institutions, including sponsorship of free concerts, movie nights and carnivals.

Through the 1950’s, 60’s and 70’s, Stefanski expanded the savings and loan by opening branch offices in growing Cleveland suburbs.

The thrift opened its first branch office in an outlying area of metropolitan Seattle, Lynnwood, Washington, in May 1958.

But Washington Federal also expanded through internal means, opening its first downtown Seattle office in April 1961 and another branch office in nearby Rainier Valley two years later.

In 1982, Washington Federal become a public company supported chiefly by its customers who purchased 62 percent of the subscription offering.

In July 1987, the thrift made a bold move into Idaho by acquiring United First Federal and Provident Federal Savings and Loan Association, both of which were headquartered in Boise, Idaho.

Buoyed by its prime location and its concentration on providing low-risk loans, Washington Federal increased its asset total from $705 million following its public offering to $2.2 billion by 1988.

Next, on the last day of 1991, Washington Federal concluded an agreement with First Western Savings Association, an Oregon-based Metropolitan Savings Association, to acquire its deposits in Eugene, Oregon, and its deposits and leased buildings in downtown Portland, Oregon.

On February 3, 1995, the work was completed and Washington Federal became the new parent company for the 78-year-old thrift, with its inaugural year of existence highlighted by another year of strong growth for its consistently stable subsidiary.

In 2007, Third Federal made a minority public offering that raised nearly $1 billion in capital.

20th Anniversary of the Fun Run, which went on until 2008