Harborstone Slated to Merge With TULIP Cooperative

The board of directors of Olympia, WA-based TULIP Cooperative Credit Union and Harborstone Credit Union voted recently to merge, pending regulatory approval.

“We couldn’t be more enthused about the merger with TULIP,” said Phil Jones, CEO of Harborstone. “Their mission of serving moderate- and low-income households is a perfect fit with our history and philosophy of serving the diverse membership base we have in our communities, including minority, veteran, women and immigrant-owned businesses.”

“From the very beginning, our credit union was founded on the principle of serving low-income households and expanding access to loans and services,” explained Bruce Cramer, CEO of TULIP. “Going forward, Harborstone offers us the best opportunity to expand on this vital work.”

“Harborstone shares our commitment to invest in low-income communities and has demonstrated this throughout its history,” added Cramer. “Our board believes merging with Harborstone will be a great move for our members.”

TULIP Cooperative Credit Union was founded in 2001 through the efforts of a small group of local volunteers to promote economic opportunities for low-income members in Thurston County.  “We are fully committed to not only continuing with the mission and values that TULIP was founded on, but also in expanding the products and services specifically designed to assist low-income households,” said Jones.

If approved, the merger will be completed by September 1.

Questions about this story? Contact Eric Horvath: 503.350.2222, ehorvath@nwcua.org.         

Posted in NWCUA.