Our History

We Started in a Shirt Pocket at the Famous Olympia Brewery

Our Founder

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O Bee started in a shirt pocket -- it’s true! Back in 1955, Ted McGill, a worker in Bottle House “A” at the famed Olympia Brewery, heard about credit unions and thought it would be a good idea for the brewery workers to start one. He was a smart guy with a considerable gift for persuasion (Ted called it “jaw boning”). After time and effort, the credit union was formed. In the early years Ted McGill WAS the credit union. He would walk around the brewery with Membership cards, loan applications and receipts stuffed in his shirt pocket. Some say it was like the whole credit union was in that one pocket.

Bottle House A

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Ted also gave out share withdrawals and loans right there on the bottle house floor. The credit union was named “The Olympia Brewing Company Employees and Families Credit Union.” Ted, who was afraid he would have to write that name by hand “at least 40 million times,” objected strongly and countered with “O Bee Credit Union.” The name stuck and history was made.

At night, when Ted got home, he and his wife, Vi, would post the books and make the necessary bank deposits working on their dining room table. Their home served as the hub of the credit union during the early years. Many Brewery workers remember standing in Ted and Vi’s modest dining room on Capitol Way, making withdrawals or chatting with Ted sometimes for hours in order to secure a loan. Back then with Ted, loan processing was less formal but just as in depth and comprehensive.

Eventually the credit union outgrew the dining room on Capitol Way and the brewery offered them office space at 316 Schmidt Place, the lovely first home of the Schmidt family. In 1975 O Bee built the 205 Clark Place building where it continued to grow until 1995 when O Bee constructed the Cleveland Avenue Branch in Tumwater which serves as its current headquarters

From Tumwater to Hollywood

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In the 60s and 70s Olympia Beer gained increasing popularity and fame when it was featured in films with actors like Dustin Hoffman, Paul Newman, Jack Nicholson and Clint Eastwood. Throughout that time of growth and accelerated awareness for the brewery, O Bee thrived as well and offered increased services to its employees and their families. In 2002, O Bee’s Field of Membership expanded to include anyone who lives or works in the State of Washington and Membership grew further.

In June of 2003, sadly the Olympia Brewery closed its doors for good and the familiar Brewery whistle blew for the last time. O Bee Credit Union was there for those brewery workers and their families facing job loss and financial instability by restructuring loan payments and helping in other big and small ways. We are proud of our capacity to meet the varied financial needs of our all our members in good and bad times.

They say Ted McGill used to hold the whole credit union in his shirt pocket. Today O Bee Credit Union has seven branches, more than 30,000 members and is one of the fastest growing financial institutions in the country. Too big for Ted’s shirt pocket, but we still honor our past by working daily to improve on what Ted began. And while much has changed in the last 60 years, our mission has not: Service, Quality and Commitment. Our members are the heart of O Bee and the reason for our success. We will always be here for our members.

Other Brands in the Olympia Brewery Family

The Olympia Brewery also brewed other Pacific Northwest brands because, one by one, their home breweries in Seattle and nearby were closing down. For a time the Olympia Brewery was also home to Lucky Lager, Henry Weinhard's, Rainier and Pabst Blue Ribbon. These names are also part of our proud heritage and helped to make the brewery great.

Rainier Logo Lucky Logo Weinhard Logo Oly Beer Logo Oly Old Style Logo PBR Logo