Proof of Usefulness Report

Olympia Federal Savings

Analysis completed on 2/9/2026

+343
Proof of Usefulness Score
Certified Problem Solver

Olympia Federal Savings is a verified, highly stable mutual bank (est. 1906) with over $1 billion in assets and a consistently superior 5-star Bauer Financial rating. While the business demonstrates exceptional real-world utility and financial traction, the project submission itself was low-quality, featuring lazy data entry (e.g., 'most people have used my product', 'marketcap' for a mutual bank) and exaggerated reach claims. The score reflects the strong underlying business fundamentals tempered by the lack of technical innovation and the poor quality of the submission.

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Score Breakdown

Real World Utility+112.5
Audience Reach Impact+40.0
Technical Innovation+7.5
Evidence Of Traction+118.8
Market Timing Relevance+25.0
Functional Completeness+2.5
Subtotal+306.3
Usefulness Multiplierx1.12
Final Score+343

Project Details

Project URL
Description
Olympia Federal Savings began in 1906 in downtown Olympia remaining a mutual savings and loan, owned by our account holders ever since. With loans and deposits staying local, you can rest-assured knowing your dollars are reinvested back into the community in which you work and live. We are also a portfolio lender, which means we don’t sell your loan, it remains with us throughout its lifetime; giving you peace-of-mind knowing exceptional customer service and support is with you every step of the way. This commitment to local lending improves our local education systems, economy, social services, and municipalities; which in turn helps strengthen our local quality-of-life. OlyFed is truly a great combination of community passion and local banking at its best. This is home. It’s where we raise our families, create memories with neighbors and share life and special occasions with loved ones. This is why each year OlyFed dedicates at minimum 5% of our profits to support hundreds of nonprofit organizations; however, in the past 6 to 7 years when the needs have been greater, we have contributed 10 to 15% of our profits toward charitable endeavors. In addition, OlyFed employees dedicate hundreds of hours of their time and talents through volunteer service to many important and vital causes in our South Sound region. Olympia Federal Savings has maintained a 5-star “superior” rating from Bauer Financial. Only 1% of the nation’s banks have earned Bauer’s top rating for so long and with such consistency, making us one of the strongest banks in the South Sound. With 8 branches in Thurston and Mason counties to serve you; our professional, knowledgeable and compassionate bankers are just a short walk, bike ride or drive away. We also provide our customers with the modern conveniences of online and digital banking, so if you’re out of town or just more comfortable managing your account from the comforts of your couch you can do that too.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline