Washington Mutual, often abbreviated as WaMu, was a financial services company based in the United States. Founded in 1889, it primarily operated as a savings and loan association, providing banking services such as savings accounts, mortgages, and personal loans. At its peak, it was one of the largest savings and loan institutions in the country. In 2008, during the financial crisis, Washington Mutual faced significant losses due to its exposure to subprime mortgages. This led to its failure and subsequent acquisition by JPMorgan Chase, marking one of the largest bank failures in U.S. history.