Superintendent Chris Woods said OlyFed approached him with the idea this spring after the educational programs and operations levy failed and that he and representatives met again on Wednesday, July 17.

“They want to explore the idea of creating an account at Olympia Federal Savings, and they said they would lead by saying they calculated that they would have spent about $5,000 in levy funds,” Woods said. “They want to put that into an account for Yelm Community Schools, and they’re going to encourage other businesses and community members to do the same.”

Woods said he met with the bank and agreed with OlyFed that the best use of the funds would be for the YCS students. He added that the dollars collected could be used for scholarships for families or for student programs and activities that may get cut. He explained that OlyFed would make donations to the district for later distribution.

“Essentially what would happen is they would donate to [Associated Student Body] frequently as we request it for specific things, and then we want to make sure that we’re being very open and transparent about what that dollar amount is going toward,” Woods said. “They do a Two Cent campaign and want to identify Yelm Community Schools as the recipient. That tends to bring in about $2,500.

Then we’re going to collectively go out into the community and see if some other businesses and organizations would like to do the same.”

Woods thanked OlyFed for stepping up in the school district’s time of need as it faces a $8.25 million budget deficit for the 2024-25 school year and still has about $6 million left to cut in its reduced education plan.

“I commend OlyFed for thinking about the idea and thinking about our students and our community. We’re moving on the initial steps to make it happen,” Woods said.