Washington Mutual facts for kids

Kids Encyclopedia Facts
Washington Mutual, Inc.
Industry Finance and Insurance
Fate Insolvency. Closure by the Office of Thrift Supervision. Transferred to the FDIC who then sold WaMu to JPMorgan Chase.
Successor(s) JPMorgan Chase
When it was created September 25, 1889
Defunct September 25, 2008
Headquarters Seattle, Washington, United States
Key people Alan H. Fishman, Chief Executive Officer
Things made Consumer Banking
Financial Services
Money earned US$15.962 billion
Employees 49,403
Subsidiaries WaMu Investments, Inc; Washington Mutual Insurance Services; Washington Mutual Card Services

Washington Mutual (abbreviated to WaMu) (NYSEWM) was the United States' largest savings and loan association. Despite its name, it ceased being a mutual company in 1983 when it began to be publicly traded on the New York Stock Exchange.

On September 25, 2008, the 119th anniversary of WaMu's founding, the United States Office of Thrift Supervision (OTS) announced that it was seizing the bank and would sell most of its functional assets to JPMorgan Chase. WaMu's collapse is the largest U.S. bank failure in history. At the time of the collapse, it was the sixth-largest bank in the United States. According to Washington Mutual's 2007 SEC filing, it held assets valued at $327.9/Billion Dollars.

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