The web site still displays the Prevail Credit Union logo, but a big change has occurred at the Credit Union. After approval by the boards of directors, the State of Washington's Department of Financial Institutions (DFI) , the National Credit Union Administration (NCUA), and finally the "yes" vote of the Prevail membership - Prevail Credit Union officially and legally merged into Harborstone Credit Union, effective, January 1, 2013. During the first half of 2013, the Prevail web site, online banking site, branch office signage and the like - will all remain for the time being. The legal & official merger is complete, but the merger process continues for several more months. Until the Prevail members' accounts are converted to the Harborstone Credit Union core-data system in late May 2013, the merger of the two credit unions will not be truly complete. Members can rest assured, they continue to do business with their Credit Union. Now, a much larger credit union, as Prevail's previous $235 million in assets combined with Harborstone's $790 million in assets - now creates "one"credit union of over $1 billion in assets. A much larger resource base for members.
Unlike a bank, which is in business to make money off its customers, we are a not-for-profit financial institution. That is how we can offer higher dividends on savings accounts and CDs, and lower interest rates on loans and credit cards.
Anyone who lives or works in the state of Washington can join Prevail Credit Union. So can their family members, no matter where they live!
When you become a member of Prevail Credit Union, you literally own a part of the credit union. We are "people helping people" in the truest sense.
Prevail Credit Union was formed in 1940 to provide an alternative to traditional banking services for King County government employees and their families. The original founders believed that financial services could be offered at lower costs and would be easier to obtain by fellow employees. The credit union philosophy of "people helping people" was the guiding force behind this venture.
Original Name: King County Employees' Credit Union (founded July 29, 1940)
Name Revised: King County Credit Union (name shorted in the mid-1980s)
Name Changed: Prevail Credit Union (As of Dec. 1, 2006, the name was changed due to the expansion of membership eligibility to all residents who live and/or work in the State of Washington
Merger: Harborstone Credit Union (Prevail CU merged into Harborstone, effective, Jan. 1, 2013)
The membership base has been broadened to include anyone who lives, works, or goes to school in the State of Washington. The merger of Prevail and Harborstone's membership in January 2013 results in a combined membership of over 70,000 members.
We remain, and will always remain, member-owned and locally operated. Every member has an equal vote in shaping the future of the credit union. You and other members elect a volunteer board of directors to oversee the credit union. How we do business is your business—your opinion counts here!