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.
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.
Sound Credit Union and Washington Bancorp, Inc. Finalize Acquisition