What's New
July 13, 2011
Treasury to End Over-the-Counter Sales of Paper U.S. Savings Bonds; Action will save $70 million over first five years
WASHINGTON – The Bureau of the Public Debt announced today that as of January 1, 2012, paper savings bonds will no longer be sold at financial institutions. This action, which supports the U.S. Department of the Treasury's goal to increase the number of electronic transactions with citizens and businesses, will save American taxpayers approximately $70 million over the first five years.
December 22, 2010
NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a “noninterest-bearing transaction account” are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC’s general deposit insurance rules.
December 7, 2010
Washington Federal was rated a 5-star Bank for the 75th consecutive quarter by Bauer Financial!
July 22, 2010
Standard Deposit Insurance Coverage Amount of $250,000 Made Permanent
The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Barack Obama on July 21, 2010, made permanent the current standard maximum deposit insurance amount (SMDIA) of $250,000. The FDIC coverage limit applies per depositor, per insured depository institution, for each account ownership category.
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May 20, 2009
Extension of Temporary Increase in Standard Maximum Deposit Insurance Amount
On May 20, 2009, President Barack Obama signed the Helping Families Save Their Homes Act, which extends the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 per depositor through December 31, 2013. This extension of the temporary $250,000 coverage limit became effective immediately upon the President's signature. The legislation provides that the SMDIA will return to $100,000 on January 1, 2014.
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March 25, 2009
Washington Federal was rated a 5-star Bank for the 69th consecutive quarter by Bauer Financial!
December 4, 2008
Washington Federal Bank for Savings is participating in the
FDIC's Transaction Account Guarantee Program.
Under that program, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account.
Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
Click here for the Press Release from the FDIC
October 16, 2008
A Message from Our Chairman of the Board
“We are well prepared to ride out the economic storm. Our Bank is financially secure and we have never engaged in risking lending practices. For 95 years we have been conservative and consistent in our business practices and we will continue to in the years to come.”
-John F. Gembara
Chairman of the Board
President & CEO
Click here to download an application
September 2006
Have you heard the exciting news? Your IRAs are now federally insured to $250,000! The Federal Deposit Insurance Reform Act of 2005 has increased the maximum level of deposit insurance coverage for certain retirement accounts. Your deposits in one or more Traditional or Roth IRAs at our institution are combined and insured to a maximum of $250,000. Contact us TODAY about getting your retirement funds transferred or rolled over to Washington Federal!
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October 11, 2007
Washington Federal now offers credit cards! In order to provide our customers with another financial tool, we have teamed up with TIB to offer consumer and business credit cards.
But savings bonds, introduced in 1935, are not going away. Electronic savings bonds in Series EE and I will remain available through purchase in TreasuryDirect®, a secure, web-based system operated by Public Debt – where investors have been purchasing savings bonds, available 24/7, since 2002.
"Savings bonds are very much a part of this country's history and culture, and will remain a part of America's future – but in electronic form," said Public Debt Commissioner Van Zeck. "It's time for us to take a 1935 model and make it a 21st century investment tool."
Ending over-the-counter (OTC) sales of paper savings bonds at financial institutions is a continuation of Treasury's all-electronic initiative announced in April 2010. As part of the initiative, Treasury stopped the sale of paper bonds through traditional payroll plans, effective December 31, 2010. It is estimated that ending the sales of paper payroll and new issues of OTC bonds will save a total of $120 million over the next five years in areas such as printing, mailing, storing bond stock and fees paid to financial institutions for processing bond applications.
"Through TreasuryDirect, investors have an easy and convenient way to purchase and manage their bonds free of charge," Commissioner Zeck said. "Investors will no longer have to worry about misplacing, losing or storing paper savings bonds."
Opening a TreasuryDirect account is free, and, once it's established, investors can:
• Buy, manage, and redeem Series EE and I electronic savings bonds.
• Convert Series EE and I paper savings bonds to electronic through the SmartExchange® feature.
• Purchase electronic savings bonds as a gift.
• Enroll in a payroll savings plan for purchasing electronic bonds.
• Invest in other Treasury securities such as bills, notes, bonds, and TIPS (Treasury Inflation-Protected Securities).
Those currently holding paper savings bonds can continue to redeem them at financial institutions. Bonds, which have not matured, but were lost, stolen or destroyed, can be reissued in paper or electronic form.
Series I paper savings bonds remain available for purchase using part or all of one's tax refund. For more information on this feature, visit www.irs.gov.
For more information about the elimination of paper savings bonds and how to enroll in TreasuryDirect, visit www.treasurydirect.gov.
June 2011
Funds Availability
Effective July 21, 2011, the first $200.00 of your deposit, will be available on the first business day after the day of your deposit.
*This does not apply to new accounts opened less than 30 days. Please contact a personal banker for further information.
February 1, 2011
Washington Federal was rated a 5-star Bank for the 76th consecutive quarter by Bauer Financial!
