Verity Signs Lease for New Branch in Othello Square
May 5, 2020
Seattle-based Verity Credit Union has signed a lease to open a new branch in the much-anticipated Othello Square, located on the 7300 block of Martin Luther King Way.
Othello Square is being developed by HomeSight as a shared space for cultural organizations and workforce housing that will engage diverse residents and help stabilize communities that are at risk of displacement.
The unique complex will provide commercial space, educational opportunities, small-business incubation, cultural celebrations, and financial services for the community. Verity’s 1,743-square-foot branch will be located in Building D, which will also include a limited-equity, residential housing cooperative with 68 units of affordable housing. Verity anticipates the branch will open in 2022.
Representatives of HomeSight reached out to Verity in 2019 with the idea of adding a credit union to the Othello Square campus.
“The programming and services planned for the Opportunity Center at Othello Square directly respond to the expressed priorities identified by more than 500 community residents and stakeholders who participated in community listening sessions and meetings over the past three years,” said Tony To, HomeSight Director Emeritus and Othello Square Project Director.
Having a credit union branch on-site would be vital to the project.
“This opportunity could not be more perfectly aligned with our vision to create cooperative communities who dream boldly,” said John Zmolek, President and CEO at Verity. “As a socially-responsible financial institution, we are always looking for new ways to serve our communities as we focus on actively promoting social equity and empowerment and creating sustainable economic security. We hope to be able to offer a first-of-its-kind co-op mortgage loan for residents. In addition, we look forward to hiring from within the local community to develop a team that earns the trust of the people living in the community so that we can serve their financial needs.”
Posted in Member News.