|
| Banksloanonline » Banks » Washington Mutual Bank |
Washington Mutual Bank |
| Washington Mutual Bank is one of the largest savings and loan associations in the United States. A few of its key services and banking solutions are offering financial services to small businesses and consumers, consumer investment services, business banking, insurance services, credit card services, mortgage lending, retail banking, commercial real estate mortgage. |
History of Washington Mutual Bank:
Washington National Building Loan and Investment Association was founded in the year 1889 to aid the economy of Seattle that was almost destroyed owing to a major fire that also devastated the entire city. It changed its name to Washington Loan and Savings Association in 1908 and its growth and reach continuously climbed upwardly.
After it acquired the Continental Mutual Savings Bank in 1930, it changed its name to Washington Mutual Savings Bank. However after 1983, it closed down its mutual funding operations after having bought the brokerage firm Murphey Favre.
After a hundred years since its inception, the Washington Mutual Bank has grown manifolds by almost doubling its assets and operations. In the course of time, it also takes pride in its association with the companies that it has acquired and many of which have merged with the Washington Mutual Bank. Some of the most noted acquisitions of the company till today remain-
- Old Stone Bank of Washington, Rhode Island
- CrossLand Savings FSB, Utah
- Pioneer Savings Bank, Washington
- Great western Bank
- PNC Mortgage, Illinois
- Bank United Corp, Texas
- Fleet Mortgage Corp, South Carolina
- Commercial Capital Bancorp, California
The Washington Mutual Bank has witnessed a number of losses in the recent years owing to its downsizing of the home loans division. Its former chairman has also been replaced by the current CEO Alan Fishman.
One of the special characteristics of the Washington Mutual bank is the 'Occasio Branch'. Meaning special occasions, these branches offer better scopes of retailing than the traditional banking system. The presence of money dispensing machines and the absence of teller counters and endless queues completely vouch for a novel banking experience with the Washington Mutual Bank.
|
|
|
