Serving our Communities
"Serving our communities" are not just words or a nice idea at 1st Security Bank. Our actions demonstrate a daily commitment to serving others. Our social and environmental commitment begins with our Core Values, which provide a foundation for hiring, guide our on-going coaching and encourage meaningful service to our communities.
We work together as a team to take care of each other, our customers, our business partners and the communities we serve.
Environmental
From reducing water usage to LEED certification, we're taking steps to reduce our carbon footprint.
Social
Annual tuition reimbursements and supporting nonprofits such as The IF Project are just the tip of our social impact efforts.
Governance
Choosing effective corporate governance policies for the benefit of our shareholders, employees, customers, and communities.
ESG
It's more than an acronym. It's what brings us to work each day. Learn more about how we serve our communities and nonprofit partners.
Environmental
Protecting the environment today ensures a brighter future for tomorrow. At 1st Security Bank we are committed to reducing our carbon footprint with sustainable practices that reduce, reuse, and recycle whenever possible. We are also investing in businesses and organizations who are working to create healthier, more stable communities through efforts such as the Jefferson Land Trust and Sequim Museum & Arts.
- Most recently-built branch in Montesano is a GREEN certified building
- Shred-It recycling events at multiple locations each year offer our communities a secure, environmentally friendly way to get rid of old paper documents
- We finance energy efficient home improvement projects including solar, efficient window replacement, siding and roofing
- In 2021 we began digitizing the Annual Shareholders Report, saving trees and eliminate the carbon impact from freight shipping
- Providing support for remote work environments helps to reduce local traffic and related CO2 emissions
Additional environmental sustainability efforts include:
- Upgrading our branches to reflective, high-albedo TPO roofing material which reduce cooling needs
- Low flow water faucets and water efficient toilets
- Replacing fluorescent lighting with longer lasting, energy efficient LED bulbs
- Recycling all plastic, paper, and metal products where accepted
- Updated HVAC systems with reduced energy consumption and free from toxic refrigerant
Social
At 1st Security Bank we take social responsibility and leadership seriously. For over a decade we have been "celebrating diversity and supporting equality for all" as a Core Value. Commitment to this Core Value is proven in our actions: 50% of our independent Board of Directors, and 44% of our Leadership team, are women; in 2012 we were the only bank to support Referendum 74 for marriage equality in Washington State; we support programs and resources to meet the needs of the vulnerable and underserved in our communities including food drives; school supplies donations; banking assistance for the elderly; creation of a website accessible for hearing and sight impaired clients and branch personnel able to personally assist with banking needs. From our Bank On certified 1st Step Checking account to participating in the Mainstay Program and Link Deposit Program, we are making sure no one is left unserved.
Learn more about our social impact efforts at 1st Security Bank:
- Minimum wage increased to $20/hour “Livable Wage” for all employees effective July 2021
- Health insurance cost increases absorbed by the company since 2014
- 16 hours of paid volunteer time for all employees
- $5,000 annual tuition reimbursement program to employees
- Financial and volunteer support of The IF Project, which assists soon-to-be released inmates prepare for life after incarceration
- An employee education loan forgiveness program of up to $5,000 in 2020, with the CARES Act
In 2006 we created the Employee Satisfaction Task Force (ESTF). This group was designed to to give our employees a voice within the organization and a safe place to share what is working and what is not working. This voice is valuable and has enhanced our workplace. ESTF has led the way with incredible community events (an annual food drive and "Stuff the Bus" to provide school supplies) as well as workplace advances including fitness challenges and regular All-Staff Zoom conference calls.
Visit our Community and Careers pages to learn more about our WOW! culture and what makes our employees such a special part of who we are and the communities we serve.
Community Reinvestment Act
1st Security Bank is a relationship-driven community bank. We have been serving the Puget Sound area since 1936. We deliver banking and financial services to local families, local and regional businesses and industry niches across Washington and Oregon. We emphasize long-term relationships with people, families and businesses within the communities we serve, working with them to meet their financial needs. We are also actively involved in community activities and events within these communities to provide support for local needs.
Learn more about our Community Reinvestment Act efforts and the ways we're working to invest in your future.
Learn More
Governance
Leadership comes in all shapes and forms and it is our commitment to our Core Values and vision statement that makes 1st Security Bank a great place to work and bank. 1st Security Bank's Core Values reflect our commitment to diversity, equality, inclusiveness and social awareness. To further our commitment of these values, our Governance and Nominating Committee (GNC) expanded its scope and became the Nominating and Environmental, Social, Governance Committee in 2020.
"Strong governance and oversight are front and center to our success. We take our corporate culture, which is steeped in integrity, and align it with our corporate activities and behavior to ensure we operate in a safe and sound manner and in compliance with all applicable laws and regulations. Through our diverse perspectives we create the structure needed to establish our company direction and objectives, execute strong decision making required to implement that strategic direction and then monitor our performance. We are unified in our approach. This is our formula for success."
- Nominating & Environmental, Social, and Governance Committee
- Independent Board Chair
- Six of seven directors are independent
- Board committees are comprised entirely of independent directors
- Independent directors meet in regular executive sessions throughout the year
- Board and committees perform self-evaluations on a regular basis
- Policy restricts hedging and pledging of stock
- Alignment of director and shareholder interests
- Use of clawback provisions in executive pay
Helping others is a big part of who we are.
