LAKEWOOD, Wash. — Harborstone Credit Union has eliminated positions across its organization in a restructuring affecting fewer than 40 employees.
Dolores Broeske, Harborstone’s senior vice president and chief people officer, confirmed the reductions in an emailed response to the News Tribune on Oct. 5. She said the changes were intended to prepare for future business needs, increase efficiency and strengthen the credit union’s long-term sustainability.
Harborstone is offering transition assistance to affected employees, Broeske told the newspaper. Online employee posts indicated the cuts included branch management, operations and finance positions, according to the report.
Harborstone CU reported $800,770 in net income at mid-year, with net worth of 9.34%.
Cuts Follow Expansion
The layoffs follow several acquisitions. Harborstone acquired Seattle-based First Sound Bank in 2024, completed an acquisition of Mount Vernon-based SaviBank in September 2025 and merged with Community 1st Credit Union the following month, The News Tribune reported.
The credit union also recently opened branches in Tacoma and Olympia, with additional locations planned, the newspaper said.
Founded in 1955 as McChord Federal Credit Union, Harborstone now has more than 120,000 members and approximately $3.3 billion in assets.
