Josh Deck New President and CEO at OlyFed

After more than 38 years with OlyFed, Lori Drummond will retire as the bank’s President and CEO on June 30. Promoted from within, like most of the team at OlyFed, Drummond started her career as the bank’s receptionist in 1984 and now leaves a remarkable legacy for the bank to continue to thrive as the go-to financial institution for local families and small businesses.

Named to succeed her as only the eighth President and CEO in the bank’s 115-year history is Josh Deck. Like his predecessor, Deck was promoted from within after serving as EVP and Chief Operating Officer. Deck started his career with the US Department of Treasury serving as a bank regulator, where he traveled the country conducting bank examinations to ensure the safety and soundness of financial institutions. Deck then joined OlyFed in 2011 as VP of Risk and Compliance Management.

“When my wife and I wanted to start a family and put down roots, I realized I needed a job that didn’t have me traveling each week and I wanted to use my skills by working with a community bank that shared my values. The South Sound was home and OlyFed was the perfect match,” said Deck. Attending Franklin Pierce High School in Pierce County, Deck was a standout baseball player who went on to pitch in college at William Penn University. Now, he enjoys golfing and coaching his own young sons’ teams in basketball, t-ball, and baseball in the local community where he lives and works.

According to Deck, “OlyFed has been a stable component of Olympia for over 115 years, investing in the same place our customers are invested. We strive to demonstrate our dedication to our community through volunteerism and philanthropic giving. We want to grow with our community and to continually
help improve our local quality of life.”

As part of their guiding values, OlyFed is committed to lifelong learning and promoting a different kind of business model that uses their resources to serve the needs of Thurston and Mason County.

For Additional Information
Olympia Federal
360.754.3400 or 800.865.3470
olyfed.com

BY LYNN CASTLE

Oly Fed’s President CEO Lori Drummond to Retire in June 2022

Olympia Federal Savings (OlyFed) has announced that after over 38 years of service to the bank, Lori Drummond, president and chief executive officer, will retire from the financial institution on June 30, 2022. OlyFed’s board of directors has selected Joshua Deck, executive vice president and chief operating officer, to succeed Drummond in the top post; however, she will remain on the bank’s board of directors.

Born in Arizona, Drummond moved to Washington State shortly thereafter, so she has always considered herself a lifelong Washingtonian. In 1977, Drummond’s family moved to Olympia and after earning a degree in business administration from Washington State University, at the urging of her father, Drummond applied for the receptionist position at OlyFed and in 1984 so began her career at the bank.

Drummond was a quick study and in 1987, she advanced to Marketing Director and to executive-level management in 1991, eventually being named president and CEO in February of 2008 – the first woman ever to hold OlyFed’s highest leadership position. Under Drummond’s leadership as president and CEO, the bank has more than doubled in asset size, added a branch in Yelm, expanded with wealth management services through OFS Financial, added services for small businesses, added focus on commercial real estate lending, instituted new technology advancements, and enhanced bank wide culture, all while providing record-level support to the local community.

In fact, Drummond has amassed a long, diverse and impressive resume modeling OlyFed’s people-first values and commitment to civic involvement, serving on the board of directors for several organizations including: Olympia Symphony Orchestra, Washington Center for the Performing Arts, United Way of Thurston County, Rotary Club of South Puget Sound, Community Foundation of South Puget Sound, Boys & Girls Clubs of Thurston County, St. Martin’s University, Washington State Heritage Center Trust, Northwest Financial Association Trust, RoundTable of Thurston County and the Washington Savings League. Lori holds dear the “Distinguished Leader” recognition she received from the Thurston County Chamber Foundation in 2017. Drummond believes that Deck will continue that spirit of leadership as the eighth president of the 115 year-old organization.

Deck is a former commissioned bank examiner with experience in compliance and regulatory management. He joined OlyFed in 2011 as vice president/risk and compliance manager and quickly advanced to higher levels of responsibility and in 2020 was named executive vice president/chief operating officer. Deck serves on the board of directors of the Community Foundation of South Puget Sound, and with the Community Bankers of Washington (CBW). Last year he was honored with South Sound Business Magazine’s “40 Under 40” award for his contributions to OlyFed and the community.

Founded in 1906, OlyFed is the South Sound’s only locally owned and operated mutual bank with eight regional branch locations. Throughout its 115-year history, the institution has demonstrated consistent financial integrity, earning a five-star rating from independent research agency Bauer Financial for 33 consecutive years. Only one percent of the nation’s banks have earned Bauer’s top rating for so long and with such consistency. To learn more, visit
OlyFed.com.