Case Study: Olympia Federal Savings achieves 50% faster budget consolidation and on-demand net interest margin forecasts with Vena Solutions

Olympia Federal Savings Better Manages Interest Rate Risk With 50% Faster Budgets and On-Demand NIM Forecasts in Vena

Olympia Federal Savings (OlyFed) is a community bank in Olympia, WA with eight branches and nearly $800M in assets. Before adopting Vena, budgeting and net interest margin (NIM) planning relied on manual, offline spreadsheets maintained by the VP Controller, making consolidation slow, error-prone and unable to produce quick, product-level NIM reforecasts or robust scenario analysis—monthly statements took about two hours to assemble and much of the three-month budget cycle was spent just aggregating data.

In January 2021 OlyFed implemented Vena for Banks and Credit Unions, using its pre‑configured NIM template and integrations with Prologue Financials and Paylocity plus an Excel interface for easy user adoption. The bank now consolidates budgets 50% faster, generates on-demand NIM forecasts in minutes, produces monthly financials in 30 minutes (ready two days after close), and benefits from fewer errors, better audit trails and more time for strategic, data-driven decision making.

Olympia Federal Savings

Kristina Ware

Vice President Controller