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Warm Welcome

to The Bank of Washington clients!

Warm Welcome

to The Bank of Washington clients!

With strong Pacific Northwest roots, both Sound Credit Union and The Bank of Washington teams share a commitment to providing trusted and valued financial services to the communities we serve.

Together, the combined organization will share knowledge, experience and resources in the Puget Sound region.

Acquisition Guide

You’re in the right place for the most current information about the acquisition.

 

Check back for important dates, contact information, resources and answers to your questions.



Important Dates

ACQUISITION
March 22, 2019

The Bank of Washington (TBOW) clients are now Sound Credit Union members. TBOW accounts will continue to be serviced at the same branch locations, websites and systems.

OPEN AS SOUND CREDIT UNION
March 25, 2019

We look forward to meeting you and operating the TBOW locations as Sound Credit Union. You’ll notice new signage and branding.

ACCOUNT INTEGRATION
Mid-2019

When the account integration process is complete, TBOW clients’ accounts and services will run on Sound Credit Union’s software.

We will keep you informed as this date is finalized, what to expect and how to access your accounts online, in person and over the phone.

Deposit Insurance

Sound Credit Union is insured by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF).

Your deposits will continue to be federally insured to the maximum amount available, currently to at least $250,000 per depositor, and backed by the full faith and credit of the United States government.

NCUA/FDIC Comparison Chart

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Acquisition Information

The most important thing you can do at this time is confirm your email address, mailing address and phone numbers are current at The Bank of Washington.

In addition, keep an eye on your mailbox, email and this web page for information about the upcoming account integration.

The Bank of Washington branches, employees and clients are now a part of Sound Credit Union.

Together, the organizations will offer an expanded branch footprint of 29 locations from Everett to Tumwater, additional services, financial strength and growth opportunities.

Combined, the organization will have approximately $1.7 billion in assets ($1.3 billion in loans, $1.5 billion in deposits) and over 122,000 members/clients.

Don Clark, Sound’s President/CEO, will lead the combined organizations, along with the rest of Sound’s executive team who will continue in their current roles.

No, Sound will maintain its status as a credit union and is excited to welcome The Bank of Washington clients to the Credit Union.

Not at this time. After account integration, The Bank of Washington clients may receive new account numbers. You will be notified well in advance of these changes to allow for a smooth transition and our employees will be ready to assist you.

Yes, your direct deposit will continue to work without interruption. When we combine operating systems, and your routing number changes, we will work with your direct deposit and/or withdrawal sources to change your account number. However, this may require your help along the way. As we get closer to that date, we will be in touch.

The account access points you’re familiar with will not change at this time. Continue using the same branch locations, ATMs and Online Banking you do currently, at the-bank.com. All 29 Sound branches will become available to TBOW clients after account integration (expected mid-2019).

We have no plans to close branches at this time. We will continually monitor the performance of each branch location and the needs of our members and clients. Once accounts are combined, our branch network will grow to 29 locations.

Once the account integration is complete (expected in mid-2019) all members and clients will have full-service access to Sound’s complete branch network. Until that time, account access will only be available at existing branches of The Bank of Washington (Edmonds, Everett, Lynnwood, Mukilteo and Redmond).

Starting on March 25, limited service will be available to Sound members at the Edmonds, Everett, and Mukilteo branches.

Once the account integration is complete, Sound members will have access to all branch locations including Lynnwood and Redmond.

Media

Sound Credit Union and Washington Bancorp, Inc. Finalize Acquisition

PRESS RELEASE

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Contact us with questions or comments

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Call 800.562.8130

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The Bank of Washington

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