Harborstone Credit Union has been among the most acquisitive CUs in the country in the past year.

The $2.1 billion-asset Harborstone, which announced two bank buys since August 2023, said Monday it plans to merge with Community 1st Credit Union in Dupont, Washington.

The $202 million-asset Community 1st is the longest-operating credit union in Washington and is known for its nationwide green lending program, ezSolarLoan.

Earlier this year, the Lakewood, Washington-based Harborstone said it plans to acquire Burlington-based SaviBank. That announcement came on the heels of a deal the credit union struck to buy Seattle-based First Sound Bank last summer.

The First Sound transaction closed on May 16, and the SaviBank deal is expected to be completed in either late 2024 or early 2025.

The combined credit union will continue to operate as Harborstone Credit Union under the leadership of its president and CEO, Geoff Bullock.

“We’re stronger together and better positioned to help more individuals and families in Washington state with their unique financial goals,” Bullock said in the press release.

At deal completion, Harborstone will serve more than 100,000 members with 21 branches.

“The proposed merger will bring together dedicated employees, convenient locations and valuable financial products and services to serve our wonderful, combined membership and communities,” Community 1st’s president and CEO Dan LeFree said in the release.

The companies did not indicate if LeFree will remain with the combined organization.

Harborstone earned roughly $10,000 in the first half of 2024 after earning $4.2 million a year earlier, according to call report data from the National Credit Union Administration.

For Community 1st, earnings were up 60% after the second quarter to $515,000.

“We’re stronger together and better positioned to help more individuals and families in Washington state with their unique financial goals.”

 – Geoff Bullock
President and CEO
Harborstone Credit Union