TACOMA, WA – June 3, 2020 – With over 85% approval rating, the members of Fluke Federal Employees Credit Union (FEFCU) have voted in favor of the merger with Sound Credit Union (Sound). This is the final step in the approval process. The merger itself will be complete on June 30, 2020. The ongoing credit union will operate as Sound Credit Union, led by Don Clark, Sound’s President and CEO.
The formal merger process began earlier this year, when the Boards of FEFCU and Sound unanimously approved a merger agreement between the two organizations. Next followed the approvals from state and federal regulators. The last step in this process was the approval from FEFCU members which was announced at the Special Meeting of the Membership on June 1.
“We believe this merger will benefit our members by providing access to more branches throughout the Puget Sound region, a wide variety of products and services including digital banking tools,” said Dan Wright, Chairman of the FEFCU Board.
FEFCU will continue to operate under its current name until the completion of account, service and system integration on June 30, 2020. The most current information regarding the merger can be found on Sound’s website at soundcu.com/merger.
“We are pleased to receive this approval from the FEFCU membership,” said Don Clark. “We look forward building relationships with these members and standing with them through all waves of life.”
The combined credit union will hold over $2 billion in assets. Sound currently has 28 full-service branches throughout King, Pierce, Snohomish and Thurston Counties and serves over 130,000 members.
About Fluke Employees Federal Credit Union
Founded in 1971, Fluke Employees Federal Credit Union has been serving employees, retirees, and family members of Fluke Corporations and its subsidiaries. Based out of Everett, Washington, FEFCU is approximately $2.6 million in assets and provides their services to over 500 members.
About Sound Credit Union
A Northwest original since 1940, Sound is one of Washington State’s largest credit unions, driven by the purpose of standing with members, employees and the community through all waves of life. Sound provides authentic and trusted financial support and services with full-service branches around the Puget Sound.
More details available at www.soundcu.com/merger