The Wise Choice.


April 11th, 2024

Harborstone Credit Union Announces Agreement to Acquire SaviBank

A Purchase & Assumption Agreement has been signed whereby Lakewood, Washington-based Harborstone Credit Union will acquire SaviBank. This transaction is anticipated to occur near the end of 2024 or early 2025. Below is a joint statement from Mike Cann, Chairman of SaviBank, and Geoff Bullock, President/CEO of Harborstone Credit Union, along with the press release, customer letter and shareholder letter.

Press Release

Customer Letter

Shareholder Letter

Customer Feedback

Listen people, the AMAZING folks are Savi are all staying because they LOVE that they are going to be a credit union and no longer a bank because the customers come first. Grant, Melissa, Steve, all your favorites are so thrilled to be staying on to serve the community in the same (and now better) way. If the staff are thrilled, then they should say something! Seriously, go in and actually talk to the people you are all assuming are about to leave, they are bloody giddy!! I would like to remind some of you that when Savi was new in town, so many people crowing about too many big banks. Now they have proven themselves in 100 ways and are personally delighted and in support of the merge and everyone is pizzing and moaning. ITS A PROPER CREDIT UNION!!  Finally! Let embrace the fact that EVERY SINGLE STAFF MEMBER ASKED TO STAY and continue the great service that they have been dialing out to the community since opening.

EJ Toovey of Anacortes

About Harborstone Credit Union

Harborstone Credit Union is a Washington-chartered and federally insured credit union headquartered in Lakewood, Washington. Founded in 1955 as McChord Federal Credit Union, serving airmen on McChord Air Force Base (now Joint Base Lewis McChord), Harborstone Credit Union has grown to become one of the largest credit unions in Washington State with over 88,000 members and approximately $1.9 billion in total assets. Harborstone Credit Union has fifteen branches located throughout King, Pierce, and Thurston counties and offers members a full range of products and services with the aim to assist members in achieving financial well-being through innovative financial solutions that foster thriving communities and economic vitality.

About SaviBank

SaviBank (formerly known as Business Bank) is a commercial bank chartered in the State of Washington with a community bank focus. The Bank began operations April 11, 2005. SaviBank proudly serves Skagit, Whatcom, Island and San Juan Counties with branches in Anacortes, Burlington, Bellingham, Concrete, Freeland, Friday Harbor, Mount Vernon, Oak Harbor, and Sedro-Woolley, and loan production offices in Olympia and Orcas Island. The Bank provides loan and deposit services to customers who are predominantly small and middlemarket businesses and individuals in and around Skagit, Island, San Juan and Whatcom counties. As a locally-owned community bank, we believe that when everyone becomes Savi about their finances, our entire community benefits. Call us or stop by one of our branches and we’ll show you how to bank Savi. For additional information about SaviBank visit

Mike Cann, Chairman of the Board
Andy Hunter, President & CEO
(888) 707-2060