Washington Mutual Inc.
Type	Public (NYSE: WM)
Founded	1889
Headquarters	Seattle, Washington
Key people	Kerry Killinger, CEO & Chairman
Industry	Finance and Insurance
Products	Financial Services
Revenue	$15.962B USD
Employees	60,798
Subsidiaries	WM Financial Services; Washington Mutual Insurance Services; Washington Mutual Card Services
Website	http://www.wamu.com/

The Washington Mutual Tower in Seattle, Washington

A Washington Mutual Financial Center in San Jose, California

Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. [1] Despite its name, it is not a credit union, and ceased being a mutual company in 1983. It is publicly traded on the New York Stock Exchange. WAMU is a public radio station that services the greater Washington, DC metropolitan area. ... Image File history File links Wamu_svg. ... This article does not cite any references or sources. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... “Seattle” redirects here. ... For the capital city of the United States, see Washington, D.C.. For other uses, see Washington (disambiguation). ... Kerry Killinger (born June 6, 1949 in Des Moines, Iowa) is an American businessman and the chairman and chief executive officer of Washington Mutual. ... Finance and Insurance is an industry group that mainly handles the transfer of paper and money, financial assets. These include: Accounting, Asset Management, Electronic Communications Networks, Financial Services Regulatory Agencies, Investment Banking Investment Firms, Investment Funds, Lending, Outsourced Financial Products & Services Marketing, Securities Brokers & Traders, Stock Exchanges, Trade Facilitation, and... Financial services is a term used to refer to the services provided by the finance industry. ... Look up revenue in Wiktionary, the free dictionary. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... A subsidiary, in business, is an entity that is controlled by another entity. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... Image File history File links Download high-resolution version (600x800, 78 KB) I, the creator of this work, hereby release it into the public domain. ... Image File history File links Download high-resolution version (600x800, 78 KB) I, the creator of this work, hereby release it into the public domain. ... The tower from Bell Street Pier The tower seen from street level on 2nd Ave. ... “Seattle” redirects here. ... Image File history File links Download high-resolution version (1000x683, 163 KB)A Washington Mutual branch office in San Jose, California, at San Jose MarketCenter. ... Image File history File links Download high-resolution version (1000x683, 163 KB)A Washington Mutual branch office in San Jose, California, at San Jose MarketCenter. ... For other uses, see San José. Nickname: Location of San Jose within Santa Clara County, California. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... A savings and loan association is a financial institution which specializes in accepting savings deposits and making mortgage loans. ... A credit union is a cooperative financial institution that is owned and controlled by its members. ... A mutual organization (or society) is a cooperative organization (which is often, but not always, a company or business) based on the principle of mutuality. ... Year 1983 (MCMLXXXIII) was a common year starting on Saturday (link displays the 1983 Gregorian calendar). ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ...

In March 2006, Washington Mutual began moving into its new headquarters, WaMu Center, located in downtown Seattle. The company's previous headquarters, Washington Mutual Tower, still stands about a block away from the new building on Second Avenue. The WaMu Center as seen from the north. ... Downtown Seattle, from top of Space Needle (looking south) Map of downtown Seattle Downtown is a neighborhood in Seattle, Washington. ... The tower from Bell Street Pier The tower seen from street level on 2nd Ave. ...

Washington Mutual's principal activities are to provide financial services to consumers and small businesses such as retail banking, mortgage lending, consumer lending, business banking, business lending, insurance services, credit card services, commercial real estate mortgage and consumer investment services. It has been suggested that this article or section be merged with Current account (banking). ... This article does not cite any references or sources. ... Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ... Look up credit card in Wiktionary, the free dictionary. ... Invest redirects here. ...

Washington Mutual is the sole surviving major Seattle-based bank after the flurry of mergers in the 1980s and 1990s ended the independence of Rainier Bank, Seafirst Bank, and People's Bank, among others. Seafirst Corporation was a bank holding company based in Seattle, Washington. ...

Washington Mutual operates more than 2,600 retail banking, mortgage lending, commercial banking, and financial services offices, as of June 30, 2006. 2006 is a common year starting on Sunday of the Gregorian calendar. ...

History

Washington Mutual was founded as the Washington National Building Loan and Investment Association on September 25, 1889 in an attempt to save Seattle's economy after a fire nearly destroyed the city. It made the first home mortgage loan on the West Coast on February 10, 1890. Its name was changed to Washington Savings and Loan Association on June 25, 1908. During World War I its assets would expand by 68%. is the 268th day of the year (269th in leap years) in the Gregorian calendar. ... Year 1889 (MDCCCLXXXIX) was a common year starting on Tuesday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Thursday of the 12-day slower Julian calendar). ... Start of the Great Seattle Fire, looking south on 1st Ave. ... is the 176th day of the year (177th in leap years) in the Gregorian calendar. ... 1908 (MCMVIII) was a leap year starting on Wednesday (link will display the full calendar). ... “The Great War ” redirects here. ...

By now called Washington Mutual Savings Bank, the company made its first acquisition on July 25, 1930, by purchasing Continental Mutual Savings Bank. Over the next fifty years it would be involved in pioneering cash machine networks and telephone banking. A savings bank is a financial institution whose primary purpose is accepting savings deposits. ... is the 206th day of the year (207th in leap years) in the Gregorian calendar. ... Year 1930 (MCMXXX) was a common year starting on Wednesday (link will display 1930 calendar) of the Gregorian calendar. ... Cash Machine was the first single from Middlesex group HARD-Fi, taken from their debut album Stars of CCTV. The single was re-released on December 26, 2005 and went to #14 in the UK singles chart and #15 on the US Modern Rock chart. ... For other uses, see Telephone (disambiguation). ... For other uses, see Bank (disambiguation). ...

Its marketing slogan for much of its history was "The Friend of the Family."

In 1983, Washington Mutual bought the brokerage firm Murphey Favre and demutualized. Today, it trades on the New York Stock Exchange under the ticker symbol WM. By 1989, its assets had doubled. A Stock broker sells or buys stock on behalf of a customer. ... The term demutualization (or demutualisation) describes the process by which mutual organizations or companies (mutuals) convert themselves to for-profit (or profit-making) public companies which distribute profits to their shareholders in the form of dividends. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... A stock symbol or ticker symbol is a mnemonic used to uniquely identify publicly-traded shares of a corporation on a particular stock market. ...

In August 2006, Washington Mutual began using the official abbreviation of WaMu in all but the legal viewpoint.

Occasio Branches

Occasio is Latin for "favorable opportunity" or "special occasion" (which is also the root of the English word, occasion). It has an open, welcoming space with the look and feel of a contemporary retail store. Occasio branches are unique to Washington Mutual, as their design has taken a completely different direction from normal banks. Instead of teller windows and the traditional counter (which are normally roped off making customers form a line), tellers process customer transactions at individual stations. Washington Mutual is also unique in that it does not have tellers hand back any money to customers, but instead gives customers a receipt with a PIN code. Customers walk over to an ATM like dispensing machine where they enter the one-time generated PIN code to retrieve their funds. At some Occasio branches, the money is dispensed directly from the teller station, instead of a central machine. The English language is a West Germanic language that originates in England. ...

In October, 2006, Jaime Quiroz Sanchez filed suit against Washington Mutual over a security issue in the Occasio layout. Because of the open design, he claims, anyone can see the money being handled by the teller. When a Washington Mutual branch refused to allow him to deposit $20,805 because of an expired driver's license, which every bank must require due to federal laws pertaining to cash deposits over $10,000, he was robbed of the money on the way out, as the open layout allowed people both inside and looking into the bank from outside to become aware that he was carrying a large amount of money. ^[1]

Acquisitions

A Washington Mutual in Naperville, Illinois

Since the acquisition of Murphey Favre, Washington Mutual has made numerous acquisitions with the aim of expanding the corporation. By acquiring corporations such as PNC Mortgage, Fleet Mortgage, and Homeside Lending; Washington Mutual is now the 3rd largest mortgage lender in the United States. With the acquisition of Providian Financial Corporation in October 2005, WaMu has also become the nation's 9th largest credit card company. Image File history File links Metadata Size of this preview: 450 × 600 pixelsFull resolution (480 × 640 pixel, file size: 65 KB, MIME type: image/jpeg) ATTENTION, THE LICENSING MAY HAVE CHANGED FROM GDFL TO GDFL-SELF-WITH-DISCLAIMERS. THIS IMAGE IS NOT LICENSED UNDER THE CREATIVE COMMONS LICENSE. USING THE... Image File history File links Metadata Size of this preview: 450 × 600 pixelsFull resolution (480 × 640 pixel, file size: 65 KB, MIME type: image/jpeg) ATTENTION, THE LICENSING MAY HAVE CHANGED FROM GDFL TO GDFL-SELF-WITH-DISCLAIMERS. THIS IMAGE IS NOT LICENSED UNDER THE CREATIVE COMMONS LICENSE. USING THE... Providian Financial Corporation NYSE: PVN (now known as Washington Mutual Card Services) is one of the leading credit card issuers in the United States. ... Look up credit card in Wiktionary, the free dictionary. ...

A list of Washington Mutual acquisitions since demutualization follows:

• Commercial Capital Bancorp, California, 2006
• Providian Financial Corporation, California, 2005
• HomeSide Lending, Inc., Florida, a unit of National Australia Bank, 2002
• Dime Bancorp, Inc., New York, 2002
• Fleet Mortgage Corp., South Carolina, 2001
• Bank United Corp., Texas, 2001
• PNC Mortgage, Illinois, 2001
• Alta Residential Mortgage Trust, California, 2000
• Long Beach Financial Corp., California, 1999
• Industrial Bank, California, 1998
• H.F. Ahmanson & Co. (Home Savings of America), California, 1998
• Great Western Bank, 1997
• United Western Financial Group, Inc., Utah, 1997
• Keystone Holdings, Inc. (American Savings Bank), California, 1996
• Utah Federal Savings Bank, 1996
• Western Bank, Oregon, 1996
• Enterprise Bank, Washington, 1995
• Olympus Bank FSB, Utah, 1995
• Summit Savings Bank, Washington, 1994
• Far West Federal Savings Bank, Oregon, 1994
• Pacific First Bank, Ontario, 1993
• Pioneer Savings Bank, Washington, 1993
• Great Northwest Bank, Washington, 1992
• Sound Savings & Loan Association, Washington, 1991
• CrossLand Savings FSB, Utah, 1991
• Vancouver Federal Savings Bank, Washington, 1991
• Williamsburg Federal Savings Association, Utah, 1990
• Frontier Federal Savings Association, Washington, 1990
• Old Stone Bank of Washington, FSB, Rhode Island, 1990

Providian Financial Corporation NYSE: PVN (now known as Washington Mutual Card Services) is one of the leading credit card issuers in the United States. ... Official language(s) English Capital Tallahassee Largest city Jacksonville Largest metro area Miami metropolitan area Area  Ranked 22nd  - Total 65,795[1] sq mi (170,304[1] km²)  - Width 361 miles (582 km)  - Length 447 miles (721 km)  - % water 17. ... The National Australia Bank or nab (ASX: NAB, LSE: NAB, NYSE: NAB, TYO: 8637 ) colloquially the National or the NAB. The NAB is part of the NAB Group. ... “NY” redirects here. ... FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. ... Official language(s) English Capital Charleston(1670-1789) Columbia(1790-present) Largest city Columbia Largest metro area Columbia Area  Ranked 40th  - Total 34,726 sq mi (82,965 km²)  - Width 200 miles (320 km)  - Length 260 miles (420 km)  - % water 6  - Latitude 32° 2′ N to 35° 13′ N  - Longitude... Official language(s) No official language See languages of Texas Capital Austin Largest city Houston Largest metro area Dallas–Fort Worth Metroplex Area  Ranked 2nd  - Total 261,797 sq mi (678,051 km²)  - Width 773 miles (1,244 km)  - Length 790 miles (1,270 km)  - % water 2. ... Official language(s) English[1] Capital Springfield Largest city Chicago Largest metro area Chicago Metropolitan Area Area  Ranked 25th  - Total 57,918 sq mi (149,998 km²)  - Width 210 miles (340 km)  - Length 390 miles (629 km)  - % water 4. ... A trust company is normally owned by one of three types of structures; an independent partnership, a bank, or a law firm, each of which specialize in being a trustee of various kinds of trusts, and managing estates. ... Official language(s) English Capital Sacramento Largest city Los Angeles Largest metro area Greater Los Angeles Area  Ranked 3rd  - Total 158,302 sq mi (410,000 km²)  - Width 250 miles (400 km)  - Length 770 miles (1,240 km)  - % water 4. ... H.F. Ahmanson & Co. ... Great Western Bank (previously known as Great Western Savings & Loan) was a large consumer bank that operated primarily n the Western United States. ... This article is about the U.S. state. ... Official language(s) (none)[1] Capital Salem Largest city Portland Area  Ranked 9th  - Total 98,466 sq mi (255,026 km²)  - Width 260 miles (420 km)  - Length 360 miles (580 km)  - % water 2. ... This article is about the U.S. State. ...

References

External links

• Washington Mutual