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Harborstone Credit Union, based in Lakewood, Washington, says a recently completed organization-wide restructuring affected fewer than 40 employees. The credit union did not give an exact number of affected workers or describe the transition support it said it would provide, according to The News Tribune’s report, republished by Yahoo Finance on October 5, 2026.
What Harborstone said about the layoffs
In an emailed response, Dolores Broeske, Harborstone’s senior vice president and chief people officer, said the credit union had completed “an organizational restructuring that resulted in the elimination of positions across the organization.” She said fewer than 40 employees were affected. That is an upper limit, not an exact layoff count.
Broeske said Harborstone was “providing transition support to impacted employees and remains focused on serving our members and communities.” The report does not specify what that support includes or how long it will last.
Why the credit union says it restructured
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.” This is Harborstone’s stated rationale; the report does not independently establish the reasons behind the restructuring.
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Which roles were reportedly affected?
The News Tribune said online announcements by employees indicated that some affected roles included branch managers and positions in operations and finance. Harborstone did not publish an official list of affected job titles or locations in the report, so those roles should not be treated as a complete roster.
How the restructuring fits Harborstone’s recent growth
The report places the job cuts after several years of expansion. Harborstone completed its acquisition of First Sound Bank in 2024, completed an all-cash acquisition agreement for SaviBank in September 2025, and completed a merger with Community 1st Credit Union in October 2025. It also announced a personal-lending partnership with Upstart in March 2026 and has opened branches recently. CU Today’s October 5, 2026 report also describes the restructuring and expansion context.
The sequence provides background, but the reporting does not establish that acquisitions, the merger, branch openings, or the Upstart partnership caused the layoffs.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Harborstone’s reported size and service area
The News Tribune described Harborstone as serving more than 120,000 members and holding approximately $3.3 billion in assets. The report does not give a measurement date for either figure. It said the credit union operates across Island, King, Pierce, San Juan, Skagit, Thurston, and Whatcom counties.
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