CEO's Report
O Bee Members,
How does it feel to be an owner of one of Washington’s highest-rated credit unions? Because that’s what you are. All 34,761 of you!
Not everyone knows that you, as a Member of O Bee, are also a part owner of our not-for-profit financial cooperative. You each have a vested interest in O Bee’s ongoing success. The more you use our services and put your trust in us, the more we will grow for everyone’s benefit.
In 2024, the trust you placed in O Bee was made clear thanks to the many awards we received. From Best of the South Sound, to Showcase Magazine’s Best of 2024, to The Seattle Times’ Best in the PNW, the credit union you own took the top spot in some of our region’s most prestigious awards competitions.
But our accolades now extend beyond the PNW. Earlier this year, O Bee was recognized by Newsweek magazine as one of America’s best regional banks and credit unions. That’s a tremendous honor and would not have been possible without the loyalty of our Members and tireless dedication of our team members. Thank you all!
In 2024, we achieved a milestone year at O Bee Credit Union and set a new record for our number of Members (34,761) and total assets ($623.3 million). But we don’t measure our success by size alone.
Member satisfaction remained exceptionally high throughout 2024 as well. Our team achieved a Net Promoter Score (a common measure of satisfaction) of 90% which is practically unheard of. This is higher than other well-known brands including USAA (75%), Apple (72%) and Chase Bank (31%). Delivering an exceptional experience to you remains a top priority for us.
Throughout 2024, we introduced several product specials designed to maximize your financial well-being. Our high-rate promotional CDs attracted savvy investors looking for competitive returns, while our discounts on new HELOCs resonated with Members opting to remodel their homes rather than move in the challenging housing market.
Beyond offering great products, we remain committed to improving your financial well-being through personalized guidance and coaching. Fourteen team members have become certified financial coaches dedicated to helping Members set meaningful goals—whether it’s saving for your first home, improving your credit score, or simply building confidence in your personal finances. We are increasing our commitment to financial coaching in 2025 and invite you to see how an O Bee financial coach can help you achieve your financial goals.
Recently, officials and leaders from O Bee met to build a new three-year strategic plan. We have created a new roadmap for renewed expansion to serve more of our Washington neighbors, for new investments in technology to make banking with O Bee more convenient, and to have a more focused impact in our communities. But even with our new strategic plan, what will never change is our dedication to serving the financial needs of you, our Members.
On behalf of our executive leadership team, I extend my deepest gratitude to our Board of Directors and Supervisory Committee for their guidance and unwavering commitment to our mission. To our dedicated team members, thank you for your hard work and passion in serving our Members every day. Most importantly, to our valued Members, we appreciate your trust and loyalty—your support is the foundation of our success, and we look forward to continuing to serve you in the years ahead.
In Service and Cooperation,
Andrew Downin
President and CEO
March 2025