After a fire had nearly wiped out the city of Seattle, the Washington National Building Loan and Investment Association was established on the 25 th of September, in the year 1889, in an effort to revive the economy of the city. This later became the Washington Mutual.
Profile:
The Washington Mutual happens to be amongst the leading savings and loan providing organization in the United States. The name of the company has led many people to the misconception that the Washington Mutual is credit union, but in reality it is not so.
The Washington Mutual has stopped operating as a mutual company from 1983 itself. The common stocks of the Washington Mutual is carried out in the New York stock exchange. A lot of financial companies merged with each other in the decade of the eighties and the nineties.
Some of the major companies who stopped being independent as a result of these mergers are the Rainier Bank, the Seafirst Bank, as well as the People's Bank. The Washington Mutual managed to retain its independent status in spite of these mergers.
Principal activities:
The Washington Mutual has been endeavoring to provide to its customers the best in monetary services. Amongst the other clients of the Washington Mutual are the small business concerns like the retail banking institutions, the mortgage lending companies.
Amongst its other clients of the Washington Mutual are the various concerns that have been dealing in consumer lending, business banking, business lending, insurance services. Some of the clients of the Washington Mutual also deal in the credit card services, the commercial real estate mortgage as well as consumer investment services.
The Washington Mutual executes its business operations through four main business avenues of retail banking and financial services, the home loans, the field of commercial banking, as well as the card services. The Washington Mutual happens to be amongst the leading credit card providers to consumers from the middle market , throughout the United States.
