Tacoma, WA – March 25, 2019 – Today, Sound Credit Union (Sound) makes history as the first credit union to acquire a bank in the State of Washington. Sound received the final regulatory approval from the National Credit Union Administration (NCUA) earlier this month, and this morning The Bank of Washington’s five locations will reopen as branches of Sound.
“We are thankful to have such an incredible team between our existing Sound employees and those joining us from The Bank of Washington,” said Don Clark, Sound’s President and CEO. “It has taken every one of us to successfully bring our two organizations together and we could not be prouder of what our new combined team and expanded network of branches can offer to our members and community.”
Sound is the twenty-third credit union in the nation to acquire a bank. Sound sees this transaction as a way to further the best interest of its members as well as expand their access to financial tools and resources. Members can expect the same dependable and competitive products Sound has always provided.
“This acquisition is an investment in our members, employees and community,” said Clark. “They are the foundation of Sound, and we stand together through all waves of life.”
The full-system integration of both organizations will be ongoing for the next few months, and members will receive regular updates with information about new offerings along the way. Clark added “As Sound looks forward, we will continue to seek opportunities to support our community through competitive products, innovative technology, strong relationships, and most importantly, our genuine and loyal employees.”
More details available at www.soundcu.com/acquisition