Sound Completes Acquisition of First Interstate Bank Lynnwood Branch
Tacoma, WA – January 25, 2021
Sound Credit Union (Sound) completed its purchase of a First Interstate Bank (First Interstate) branch on Jan. 22, 2021. The deal closed on Friday and the First Interstate branch client accounts were integrated into Sound’s systems on Saturday.
“We are pleased to welcome our First Interstate members to Sound,” said Don Clark, President & CEO. “Both organizations have similar values and purpose, which we believe will help make this a smooth transition for our newest members. We look forward to building strong, meaningful relationships with them.”
In August 2020, the Sound board of directors voted unanimously to approve the purchase of the First Interstate branch located in Lynnwood, Wash. Under the terms of the deal, approved by both state and federal regulators, Sound acquired the building located at 2502 196th St. SW as well as the branch’s retail and business deposit accounts. The branch is now closed for remodeling and is anticipated to reopen in late 2021 under the Sound brand.
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About Sound Credit Union
Sound Credit Union was founded in 1940 and today is one of Washington State’s largest credit unions. With 28 full-service branch locations throughout the Puget Sound area, Sound provides their 135,000 members with authentic and trusted financial support and services. Sound is driven by the purpose of standing with members, employees and the community through all waves of life.
