WAMU Home Loans
The roots of WAMU home loans, (Washington Mutual) date back to the late 1880's. At that time, the company was known as Washington National Building Loan and Investment Association. In 1890, after the Great Fire of 1889 in Seattle, Washington, WAMU funded its first monthly installment loan.
That loan, (an amortized mortgage) soon became very popular with the others in that city. As a result, the WAMU home loan association made upwards of 2,000 similar loans to help restore more than 250 blocks of housing in Seattle.
WAMU changed its name on June 25, 1908 to the Washington Savings and Loan Association. The company expanded its assets during World War I by approximately 68 percent, thus escaping the impact of the recession that followed and emerging from the war years with a reputation as the strongest savings institution in Washington.
Since those years, Washington Mutual, Inc. has become established as one of the nation's leading financial services companies and continues to serve consumers and small to mid-sized businesses through the various subsidiaries in the WAMU family of companies. Their business strategy, "To provide a higher level of personalized customer service than that of their competitors.", has helped to make them one of the fastest-growing financial services companies in the United States.
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