HOQUIAM, Wash.—A credit union with a unique story about how it came to get its own office is marking its 60th birthday.
The $21.2-million Newrizons FCU was founded in June 1965 by 10 employees of the Lamb Grays Harbor Co. and evolved from Lamb Grays Harbor Credit Union to Newrizons in 2001 as it expanded its FOM to include the Grays Harbor area.
To mark those six decades, Newrizons held a member event day with door prizes and special occasion cake for all in attendance.
“The Lamb company believed in the empowerment of its employees and subsidized the fledgling credit union with its very own office close to the personnel office,” the Daily World reported. “Until then the accounting department of the Lamb company had been inundated with advance requests. Now, the employees could take care of themselves with the creation of their credit union family.”
According to the report, NFCU remains on the old Lamb property today, but in its own space.
Delivering Money by Hand
“Following a strike, the then-president of the machinist union, who was also a contractor, helped instigate the building of the independent space,” according to the Daily World. “During this strike the workers were unable to access the office of the credit union housed in the company they were striking against. Dedicated (and future CEO) Terry Fultz would make the transactions happen and deliver the money by hand to the members outside of the picket line. This is when they knew they needed an independent building — a big leap from the subsidized office beginnings. The following year in 1990 the new 1,862-square-foot space was built.”
Today, the credit union has 1,578 members and is a CDFI that focuses on the local bilingual community.
‘Grounded in Philosophy’
“Here at Newrizons we are grounded in the credit union philosophy of ‘people helping people’ and seek to improve our member’s lives no matter their situation, financial condition or background,” CEO Will Hall told the Daily World. “This is the best kind of work to do and I am happy to be here to be a part of it.”