Yakima Federal Savings

What Yakima Federal Savings does

Yakima Federal Savings and Loan Association is a Washington state-chartered mutual savings bank founded in 1905, headquartered in Yakima, WA, and operating 10 branches across Yakima, Benton, Franklin, and Kittitas Counties in central Washington State. The bank serves over 50,000 consumer and small-business customers, holding the #1 deposit market share in Yakima County and ranking 2nd among all FDIC-insured institutions in the broader Yakima market. Because it is structured as a mutual institution, depositors are owners rather than external shareholders, and the bank reports a 25.7% capital-to-asset ratio with $523 million in net worth against just over $2 billion in total assets and $1.43 billion in deposits.

The bank's core products are organized around consumer deposits (multiple checking tiers including Simply, Simply Better, Second Chance, and Clear Choice Student Checking; tiered savings and money market accounts; CDs and IRAs), residential lending (conventional mortgages, construction-to-permanent, HELOC, USDA rural housing, first-time homebuyer assistance up to $15,000), and business banking (Advantage Business Checking with CashFlow Central AP/AR, Positive Pay fraud protection, Clover merchant services, Zelle, and Visa credit cards). The technology backbone is the Fiserv Experience Digital platform; in April 2026, Yakima Federal became the first institution to deploy Fiserv's CashFlow Central within that environment, integrating AP/AR, real-time cash flow forecasting, ACH/wire, and QuickBooks sync directly into business checking.

Revenue is generated primarily through net interest income from the spread on mortgages, home equity, and construction loans (2024 originations exceeded $149 million in first mortgages and $15.7 million in second mortgages) against interest paid on deposits ($32 million in 2024, the highest since 2008), supplemented by deposit account fees, interchange and fees from card programs, merchant services revenue through Clover, and service charges on business banking products. The bank originated $75.6 million in net revenue in 2024 and $12.1 million in net income, with the digital banking platform upgrade completed August 2024 and a Customer Care Team launched January 2025 supporting the in-person branch model and self-serve digital channels.

Name

Yakima Federal Savings

Legal name

Yakima Federal Savings and Loan Association

Website

https://yakimafed.com

Company type

Private

Founded year

1905

Operating status

Operating

Headcount range

51–100 employees

Short description

Yakima Federal Savings and Loan Association is a mutual community bank founded in 1905, operating 10 branches in central Washington State and serving 50,000+ consumer and small-business customers with deposits, mortgages, and business banking on a Fiserv-powered digital platform.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Retail banking services
• Mortgage financing
• Consumer lending
• Business banking
• Community savings

Headquarters

HQ city

Yakima

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Net Interest Income: Primary revenue source from spread between interest earned on loans (mortgages, home equity, construction) and interest paid on deposits. Originated over $149 million in first mortgages and $15.7 million in second mortgages in 2024. Mortgage portfolio grew 8.5% year-over-year.
2. Deposit Account Fees: Monthly service fees on certain account types (e.g., $5 Simply Better Checking requires $1,000 balance to waive, $10 Second Chance Checking, $10 Savings Advantage with $5,000 balance to waive)
3. Business Banking Services: Revenue from business checking accounts, merchant services, and cash management tools including CashFlow Central and Positive Pay
4. Credit Card Income: Income from personal and business Visa credit card programs including interchange fees

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

Yakima Federal Savings and Loan is a Washington state-chartered mutual savings bank offering consumer and business deposit accounts, mortgage and home equity lending, business banking tools, and digital banking services. The bank operates 10 branch locations across Washington's Yakima Valley and Tri-Cities regions, supported by Fiserv-powered online and mobile banking with capabilities such as CashFlow Central, Positive Pay, and Zelle.

Product overview

Yakima Federal Savings and Loan operates as a mutual savings bank offering a comprehensive suite of financial products and digital banking services. The core digital banking platform consists of online and mobile banking with integrated tools including CashFlow Central for business accounts payable/receivable management, Zelle for person-to-person payments, and Positive Pay fraud protection. Consumer deposit products include multiple checking account variants (Simply, Simply Better, Second Chance, Clear Choice Student), savings accounts (Simply Savings, Elevate Money Market, Savings Advantage), and CDs/IRAs. Lending products span conventional mortgages, construction-to-permanent loans, home equity loans and lines of credit, USDA rural housing loans, and first-time homebuyer assistance programs. Business banking features Advantage Business Checking with integrated CashFlow Central, business billpay, merchant services through Clover POS, and Positive Pay. Additional services include Visa credit cards, 24/7 telephone banking, and mortgage payment assistance programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Simply Checking Basic consumer checking account with $25 minimum balance to open, no monthly service fee, and a free Visa debit card with uChoose Rewards. Includes online banking, eStatements, mobile app with mobile capture, bill pay, and card control app.
• Simply Better Checking Interest-bearing consumer checking account with $1,000 minimum to open and a $5 monthly service fee that is waived with a $1,000+ balance. Includes standard checking features plus interest earnings.
• Clear Choice Student Checking Checking account designed for students ages 14-24 with $25 minimum to open, no overdraft fees, no monthly service fee, free translucent Visa debit card, direct deposit support, Zelle transfers, and parent monitoring options for account holders under 18.
• Simply Savings Basic interest-bearing savings account with $1 minimum balance to open and no monthly fee. Includes free online banking services.
• Elevate Money Market Multi-tiered variable rate money market account with $10,000 minimum to open. Offers tiered interest rates up to 3.50% APY at $100,000+ balances, check writing privileges, and no transaction or minimum balance fees.
• Savings Advantage Multi-tiered variable rate savings account with $10,000 minimum to open, tiered rates up to 3.00% APY at $100,000+, and a $10 monthly service fee waived with $5,000+ daily balance.
• Certificates of Deposit (CDs) Fixed-rate term deposits with terms ranging from 3 months to 60 months. FDIC insured with competitive fixed APY for the full term, $500 minimum to open (with variations such as $25 for 60-Month Savings Starter and $5,000 for 48-Month Market Match).
• Traditional, Roth, and Education IRAs Individual Retirement Accounts offering potential tax deductions on qualified contributions, tax-deferred growth, and rollover options for employer retirement plans.
• Conventional Mortgage Fixed-rate mortgage financing for home purchases up to 97% of the purchase price with rates as low as 3% down. Local processing and underwriting with loans remaining at Yakima Federal rather than being sold to the secondary market.
• Construction Loans Construction-to-permanent financing with one-time closing, local processing and underwriting, in-house inspections and draws, and rate lock at start. Finances up to 90% of build costs including the lot.
• Home Equity Loans Fixed-rate home equity loans for home improvements, major purchases, or debt consolidation, up to 80% loan-to-value including existing mortgage balance.
• Preferred Line of Credit (HELOC) Variable-rate revolving line of credit using home equity with a 10-year draw period of interest-only payments, converting to a 20-year repayment term. Rate based on US Prime plus 0.25% margin (floor 5.00%, cap 10.00%), up to 80% LTV, no annual fee.
• USDA Rural Housing Loans U.S. Department of Agriculture/Rural Development guaranteed loans enabling more rural families to qualify for mortgages with little or no down payment in eligible rural areas.
• First-Time Homebuyer Programs Down payment assistance of up to $15,000 for qualifying income borrowers after completing a first-time homebuyer class, plus loans available with as little as 3% down for those who do not qualify for assistance.
• Advantage Business Checking Business checking account with simple pricing, smart tools including CashFlow Central for payables and receivables, Positive Pay fraud protection, and local support. Includes merchant services, Zelle, and online/mobile access.
• Business Billpay (CashFlow Central) All-in-one digital hub integrated into business checking accounts for accounts payable and receivable management. Offers real-time cash flow forecasting, ACH and wire transfers, automated bookkeeping sync with QuickBooks, and intuitive spending pattern analytics.
• Positive Pay Automated fraud protection service for business checking that matches checks and ACH transactions against issued lists in real time, flags discrepancies, and allows review and pay/return decisions from a dashboard.
• Merchant Services (Clover) Point-of-sale payment processing through Clover with multiple device options (Go, Flex, Mini, Station Solo, Station Duo) and virtual terminal. Supports EMV, Apple Pay, Samsung Pay, inventory management, employee scheduling, payroll, and Clover Capital financing.
• Yakima Federal Visa Credit Cards Visa credit cards available in personal and business variants, including zero-percent intro rate options. Managed through a new cardholder portal at myaccountaccess.com.
• Online Banking Platform Digital banking platform providing secure access to check balances, view transaction history, and transfer funds. Includes responsive design, custom landing pages, transaction history with multiple options, eStatements access, and Zelle person-to-person payments.
• Mobile Banking App

Quantifiable outcome

• 8.5% growth in mortgage portfolio in 2024 despite flat yield curve and higher mortgage rates
• +3 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and notable.

• FiservcoreTechnology or IntegrationFiserv provides the digital banking platform powering Yakima Federal's online and mobile banking. Yakima Federal was the first financial institution to deploy CashFlow Central within Fiserv's Experience Digital environment, providing unified Accounts Payable and Accounts Receivable capabilities for small and mid-size business members. The platform was successfully deployed and went live in April 2026.
• Clover (Fiserv subsidiary)coreTechnology or IntegrationClover provides point-of-sale payment processing systems for merchant services, including Clover Go, Flex, Mini, Station Solo, and Station Duo solutions. The partnership enables Yakima Federal to offer comprehensive payment processing to business customers including EMV chip cards, Apple Pay, Samsung Pay, inventory management, and business analytics.
• Zelle (Early Warning Services)coreTechnology or IntegrationPartnership with Zelle for fast, secure person-to-person payment transfers. Zelle is available directly from Yakima Federal's online and mobile banking, allowing customers to send and receive money using email addresses or U.S. mobile numbers with funds typically available within minutes.
• Federal Home Loan Bank of Des Moines (FHLB)notableStrategic or Co-development PartnerYakima Federal participates in FHLB grant programs, which added $262,500 in donations to ten local organizations in 2024. FHLB also enables the bank's down payment assistance program for qualifying first-time homebuyers up to $15,000.
• USDA Rural DevelopmentnotableStrategic or Co-development PartnerGuaranteed rural housing loan program that allows more rural families and individuals to become homeowners with little or no down payment. Yakima Federal offers these loans as part of their mortgage product lineup.
• Boys and Girls Club of Benton and Franklin CountiesnotableGTM or Marketing PartnerYakima Federal donated $80,000 to support programs serving youth in the Tri-Cities region.
• United Way of Central WashingtonnotableGTM or Marketing PartnerYakima Federal donated $110,000 to United Way of Central Washington to support community programs across Yakima, Benton, Franklin, and Kittitas Counties.
• Habitat for Humanity (Benton/Franklin/Walla Walla and Yakima County)notableGTM or Marketing PartnerYakima Federal donated $40,000 combined ($20,000 each) to Habitat for Humanity chapters serving Benton/Franklin/Walla Walla Counties and Yakima County. Habitat builds affordable homes using sweat-equity for down payments coupled with low-interest mortgages.
• Mirror MinistriesnotableGTM or Marketing PartnerYakima Federal donated $40,000 to Mirror Ministries of Richland, WA, which responds to domestic minor sex trafficking through local education, intervention, restoration, and aftercare programs.
• State Department of Commerce's Equitable Access to Credit ProgramnotableGTM or Marketing PartnerYakima Federal made a $90,000 contribution to Washington's equitable access to credit program supporting small businesses in the state.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Heritage Financial Corporation: Washington-based community bank holding company operating Heritage Bank across the Pacific Northwest. Similar commercial banking, real estate lending, and small-business deposit franchise with overlapping Washington footprint.
• HomeStreet Bank: Seattle-based community bank with a strong mortgage origination platform and retail branches in Washington, Oregon, California, and Hawaii. Comparable in mortgage-heavy business model and Pacific Northwest retail focus.
• Columbia Banking System: One of the largest Pacific Northwest regional banks with branches throughout Washington, Oregon, and Idaho. Comparable in commercial and consumer banking focus, though significantly larger scale creates a 'super-community' peer dynamic.
• WaFd Bank (Washington Federal Bank): Mutual savings bank headquartered in Seattle with strong Pacific Northwest retail and mortgage presence. Closest direct comparable given mutual structure, mortgage-heavy balance sheet, and regional deposit franchise in Washington State.
• Banner Bank: Pacific Northwest community bank serving Washington, Oregon, and Idaho with comparable deposit and small-business banking offerings. Overlaps with Yakima Federal's footprint in the Yakima/Tri-Cities region and competes directly for community banking relationships.

Others

• Fiserv: Core technology provider powering Yakima Federal's digital banking platform, CashFlow Central, uChoose Rewards, and Clover merchant services. Key infrastructure/integration partner rather than a competitor, but shapes the bank's product capabilities.

Broad incumbents

• U.S. Bank: Large national bank with extensive Washington State branch presence including the Yakima/Tri-Cities market. Competes for deposits, mortgages, and small-business banking with far greater scale and product breadth.
• Umpqua Bank: Large Pacific Northwest bank with broad commercial, mortgage, and wealth management capabilities across multiple western states. Larger and broader than Yakima Federal but competes in overlapping geographies and product categories.
• JPMorgan Chase: National banking giant with growing Pacific Northwest retail presence. Competes for deposits and mortgages with superior digital capabilities and scale-based pricing advantages.

Regional players

• Sound Credit Union: Washington state-chartered credit union serving the Puget Sound region. Comparable as a member-owned, locally focused financial institution competing for consumer deposits and mortgage lending in Washington State.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@yakimafederal_official
• Facebookfacebook.com/YakFed
• Instagraminstagram.com/yakfed/#
• TikToktiktok.com/@yakimafederal

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Yakima Federal Savings