LAKEWOOD, Wash. — Harborstone Credit Union has agreed to acquire HUSTL, an all-digital banking platform developed by the $3.4-billion Vantage West Credit Union to serve freelancers, gig workers and small-business owners, in a transaction expected to close in December.
The $3.1-billion, Washington-based credit union will purchase certain assets and liabilities associated with HUSTL, including its intellectual property, and assume related deposit liabilities. Both credit unions’ boards unanimously approved the agreement, according to Harborstone’s announcement. Financial terms were not disclosed.
HUSTL, launched by Tucson, Arizona-based Vantage West in 2024, has approximately $50 million in assets and 4,500 customers, Connor Lewis, Harborstone’s vice president of corporate development and strategic execution, said in an interview accompanying the announcement.
Digital Growth Strategy
The platform offers digital-first deposit accounts, mobile banking and cash-flow management tools designed around the needs of independent workers. HUSTL currently serves a customer base concentrated largely in the Southwest, but Harborstone wants to expand its reach nationally, Lewis said.
“It’s not just about putting traditional banking on a phone,” Lewis said. “It’s really designed around how independent workers actually spend, save, and manage cash flow.” He also pointed to the Seattle area’s digital banking users and gig-worker community as a potential market.
After closing, HUSTL will operate as a division of Harborstone, staffed by Harborstone employees. Existing HUSTL deposit customers will become Harborstone members if they qualify under the credit union’s field-of-membership requirements, and will gain access to its broader products and services, the institutions said.
‘Innovative Digital Platform’
“Vantage West has created an innovative digital platform and product offering in HUSTL that serves consumers in new and meaningful ways, and we’re honored to continue that work,” Harborstone President and CEO Geoff Bullock said in a statement.
Vantage West President and CEO Sandra Sagehorn-Elliott said HUSTL began with a goal of providing more flexible banking for entrepreneurs and gig workers and that Harborstone is positioned to support its growth.
Fourth Transaction in Two Years
The proposed deal follows three other Harborstone combinations since 2024:
- Its acquisition of Seattle-based First Sound Bank in 2024.
- Its acquisition of Mount Vernon, Washington-based SaviBank in 2025.
- Its merger with Community 1st Credit Union in 2025.
Following those transactions, Harborstone reported approximately $3.2 billion in assets, $2.4 billion in loans and $2.7 billion in shares and deposits. The credit union operates 29 branches across seven Washington counties.
The HUSTL transaction remains subject to regulatory and other customary approvals. Harborstone said McQueen Financial Advisors served as its exclusive financial adviser and Luse Gorman PCVia as legal counsel.
