History Tales features Karen McCormick and the History of First Federal
Karen McCormick, retired president and CEO of First Federal, will present the story of the bank at the Clallam County Historical Society’s History Tales presentation on Sunday, March 4, at 2:30 p.m. at the First United Methodist Church, 110 East 7th Street, Port Angeles. The program will be held in the social hall; parking and entry are on Laurel Street.
Incorporated in 1923 as Lincoln Savings and Loan Association, First Federal is the only local bank that can truly call itself “homegrown.” The story of First Federal is the story of Port Angeles and the communities of the North Olympic Peninsula—one that is filled with rich and fascinating tales of the people, places and events that form the unique character of the region.
From the day it first opened the doors of its small office in the Aldwell Building on Laurel Street, First Federal has been a vital source of growth and stability to its community. Upon her retirement in 2009, McCormick was commissioned to tell First Federal’s story. She joins award-winning author Rebecca Redshaw in bringing this incredible tale to life in the book Your First Fed, a story about an institution, a community, and its people.
Karen worked for First Federal for 32 years, beginning as a teller and advancing through the managerial ranks to become its president and CEO. In 2003, US Banker Magazine named McCormick one of the “25 Most Powerful Women in Banking.” She is currently employed as the Executive Director of First Federal Community Foundation.