Merger & Acquisition Opportunities Harborstone Credit Union has a history of acquisitions, recently merging with Myc1cu, acquiring SaviBank, and entering into agreements to acquire First Sound Bank. This signals potential opportunities for partnership and growth through future mergers or acquisitions.
Expansion into New Markets The acquisition of SaviBank, with branches in Whatcom, Skagit, and Island County, indicates Harborstone Credit Union's interest in expanding its market reach. This move presents potential sales opportunities in these regions and showcases a proactive approach to growth.
Top Talent Recruitment Harborstone Credit Union's strategic hires of Tim Hoefel as SVP and chief banking officer, Geoff Bullock as CEO, and Dolores Broeske as SVP and chief people officer highlight a focus on building a strong leadership team. Leveraging connections with these experienced professionals could lead to valuable networking and business development opportunities.
Financial Strength & Portfolio Sale Despite recent issues with a portfolio sale of branch locations, where Harborstone Credit Union sold seven properties for approximately $41.8 million, the company's revenue falls in the range of $50M - $100M. Exploring financial partnerships or services with a company of stable financial standing can present sales avenues.
Customer Reach and Service Expansion Harborstone Credit Union, as a community credit union open to all in Washington State, presents a wide customer base potential for businesses looking to offer services tailored to this specific demographic. Partnering with Harborstone could lead to mutually beneficial sales opportunities.