Harborstone to Merge with Community 1st: Building a $2 Billion Member Network in Western Washington

Legacy meets scale as two Puget Sound cooperatives unite under one mission

Harborstone Credit Union is consolidating its position as a leading financial cooperative in Washington: announced plans to merge with Community 1st Credit Union, headquartered in DuPont, have cleared board approval and await regulatory and member sign-off. When completed, the union will serve over 100,000 members, operate 21 branches across Pierce, King, Thurston, DuPont, Lynnwood, Olympia, and Tukwila, and deliver integrated omnichannel service at substantially increased scale.

Merging Institutions, Shared Values, Greater Reach

This merger is more than geography—it’s alignment. Community 1st, Washington’s oldest credit union founded in 1925, brings approximately $200 million in assets and around 12,000 members, along with its signature ezSolarLoan green lending program. It joins Harborstone’s $2.1 billion in assets, 91,000+ members, and 16 branches. The combined institution retains the Harborstone name and leadership under CEO Geoff Bullock.

Scale That Enhances—Not Dilutes—Member Focus

Once merged, the combined entity will:

Serve 100,000+ members, managing over $2.1 billion in assets
Operate 21+ physical locations and deliver digital, call center, and shared-branch access
Expand capacity for green lending, financial wellness, and local outreach

Harborstone and Community 1st cite their shared mission as cooperative differentiator. CEO Bullock explains:

“We’re stronger together and better positioned to help more individuals and families … with their unique financial goals.”

Community 1st President Dan LeFree adds:

“Now in our 100th year…this marks the beginning of an exciting development for the current and future members…”

Why This Merger Matters to Credit Union Strategy

Market expansion without dilution: Adds five new branch communities while preserving local identity.
Green lending innovation at scale: Combines eSolarLoan with broader Harborstone infrastructure.
Operational synergy: Shared technology, staff, and governance deliver resilience and relevance.

This merger comes on the heels of Harborstone’s recent acquisitions of First Sound Bank and SaviBank—demonstrating its seasoned capability in bank conversion and cooperative growth.

Final Word: Cooperative Growth With Purpose

In a financial industry increasingly defined by mergers and consolidation, Harborstone’s approach stands out: expansion guided by mission, not margin. The merger with Community 1st expands scale while honoring century-old roots. It brings together green lending, local service, and technology under one cooperative umbrella.

This is credit union growth done deliberately—and the next chapter begins with member‑approved momentum.