The Washington Mutual Alumni Scholarship and Assistance Programs

Former Washington Mutual executives, Fay Chapman and Lou Pepper spoke numerous times, and each time they found themselves reminiscing about the great bank they used to work for and the frustration they felt about what was happening to the company.  All of these conversations left them feeling... well… rather "grumpy."
 

Lou, the former chief executive of Washington Mutual widely credited with growing the bank through the 1980s and hiring many of the executives who led the bank’s growth through the 1990’s, reconvened members of the original Washington Mutual leadership team to create the ‘Washington Mutual Alumni Program.’

When Washington Mutual was seized by the Feds, they knew the extreme hardship that would cause many of the folks working there, which just added to their grumpiness!  So, reaching back to those long-held WM Corporate Values of integrity, kindness, caring and making our communities better places to live, they decided that they had been grumpy long enough and it was time to do something constructive. They, as with all the old WM alumni, were really concerned for the many folks left behind, especially those whose savings had been invested in the company's stock and wiped out by the bankruptcy.

So – after some deep soul-searching, and recognizing that every small step could help their former colleagues -- they decided to focus on the fact that what many people were saving for was to send their children to college and that now, those dreams were in jeopardy.  And, with so many employees losing their jobs, they determined that they must focus their efforts on helping those who faced this burden.

They also decided to see how they could help those hurt the worst. They envisioned helping with unpaid medical bills and a variety of other needs. But, as they explored ways to make it happen, they found that help with some things is more difficult to administer than others. 

In order to get something in place to help people as soon as possible, they turned to The Seattle Foundation and its expertise in administering scholarship funds.   They knew they needed help, so Fay called in the troops, contacting Liane, Lindy, Lee and Lynn ("The L-Team") to get the project underway. Immediately, they began sending e-mails to WM alumni and asking them to spread the word.  And now, with the help of many other gracious alums, this website is up and running, many alumni have been contacted, and money is starting to flow in.

Less than 12 months after Washington Mutual lay smoldering in the ruins of the biggest bank collapse in U.S. history, over $600,000 was raised.  The Washington Mutual Alumni Program now offers scholarships to Washington State former employees and their children, a tuition program for former employees nationwide and emergency funds for those in immediate need of assistance. 
 

How to Donate:

The Seattle Foundation is currently accepting donations on our behalf. If you are interested in donating to the WM Alumni Fund, please feel free to contact:
Allison Parker
The Seattle Foundation
1200 Fifth Avenue, Suite 1300
Seattle, WA 98101-3151
phone: (206) 515-2128 or 206-622-2294

You can make a donation by writing a check or by donating almost any type of asset, including cash, stock or real estate.  Checks should be made payable to The Seattle Foundation, with the notation "WM Alumni Fund." To donate assets, contact Allison Parker at The Seattle Foundation.

If you would like to help us in this effort, or can contribute in other ways, just email us.

IRS regulations require us to note that The Seattle Foundation will not provide any goods or services to you in exchange for a contribution to the WM Alumni Fund.  As a component fund of The Seattle Foundation, the Foundation has the authority to redirect distributions of the WM Alumni Fund if it becomes necessary to protect donor intent.

Click here to learn more about the Steering Committee.