Harborstone CU Cuts Nearly 40 Jobs In Restructuring
By CU Today Staff —
LAKEWOOD, Wash.—Harborstone Credit Union has eliminated positions across the organization as part of a restructuring aimed at improving efficiency and positioning the $3.3-billion institution for future business needs, according to The News Tribune.
Dolores Broeske, senior vice president and chief people officer for Harborstone, confirmed the layoffs to The News Tribune, saying, “Harborstone recently completed an organizational restructuring that resulted in the elimination of positions across the organization.” She added that “the restructuring impacted fewer than 40 employees” and said the credit union is “providing transition support to impacted employees and remains focused on serving our members and communities.”
Asked by The News Tribune about the reason for the reductions, Broeske said, “The decision was made to align our organizational structure with future business needs, improve efficiency, and support the credit union’s long-term sustainability.”
The newspaper reported that online announcements from affected employees indicate the eliminated positions included some branch managers as well as employees in operations and finance.
The layoffs follow several years of expansion by Harborstone. As The News Tribune noted, the credit union completed its acquisition of Seattle-based First Sound Bank in 2024 and, in October 2025, completed its merger with DuPont-based Community 1st Credit Union, adding branches in DuPont, Lynnwood, Olympia, Tacoma and Tukwila. A month earlier, Harborstone completed an all-cash acquisition of Mount Vernon-based SaviBank.
The News Tribune also noted Harborstone has continued investing in growth initiatives. In March 2026, the credit union announced a partnership with AI lending marketplace Upstart to support growth in personal lending. Harborstone has also recently opened branches in Tacoma and Olympia and has additional locations planned, according to the newspaper.
Founded in 1955 as McChord Federal Credit Union to serve airmen at what was then McChord Air Force Base, Harborstone now serves more than 120,000 members and has approximately $3.3 billion in assets. According to The News Tribune, the Lakewood-based credit union operates branches across Island, King, Pierce, San Juan, Skagit, Thurston and Whatcom counties.
Originally reported by CU Today.