1 star ratingAverage User Rating:
1 star rating based on 2 reviews.

Sound Credit Union

Sound Credit Union Locations
PO Box 1595
Tacoma, WA 98401
(253) 383-2016
www.soundcu.com



Sound Credit Union is headquartered in Tacoma and is the 6th largest credit union in the state of Washington. It is also the 173rd largest credit union in the nation. It was established in 1940 and as of December of 2011, it had grown to 204 employees and 107,793 members. Sound Credit Union has a 4-star health rating.

Sound Credit Union Routing Number: 325183220

Related Posts

$100 Checking Account Bonus at Sound Credit Union - Washington State Only - 1/27/2011

Sound Credit Union is offering a $100 bonus for opening one of its checking accounts and establishing direct deposit of at least $250 per month. This offer is listed in the credit union's checking pag ...

3.00% 24-Month CD at Sound Credit Union in Washington State - Local Only - 6/15/2009

Update 7/04/09: The CD rates have fallen. Please check the credit union's website for the latest rates.Sound Credit Union is offering a very competitive 2-year CD with a rate of 3.00% APY. Minimum deposit is $500. There's also a competitive 18-month CD...

4.25% 12-Month CD at Sound Credit Union in Washington State - 9/12/2008

Sound Credit Union is offering a special 4.25% APY 12-month certificate. The minimum deposit is $500. The Jumbo 12-month certificate with a minimum of $100,000 has a yield of 4.35% APY.My last post on this credit union was in April when it was offering a...

3.90% 11-Month CD at a Washington State CU - and $100 Checking Bonus (Sound). - 4/16/2008

Update 5/3/08: The 11-month CD special has ended. Please check the credit union's website for the latest rates and specials.Sound Credit Union is offering a special 3.90% APY 11-month certificate. The minimum deposit is $500. The credit union still has a...

2008

2007




See Rates for: Checking | Savings | Money Market | CD | IRA

Sound Credit Union Checking Account Rates

ApyMinMaxProduct
0.40%$50k-High-Yield Business Checking
0.25%$50k-High-Yield Checking
0.05%$1k-Plus Checking
0.05%$1k-Advantage Checking
0.05%$50-Visions Checking

Sound Credit Union Savings Account Rates

ApyMinMaxProduct
0.25%$25-IRA Savings
0.25%--Health Savings Account
0.10%$25-Prime Savings
0.10%--Johnny Appleseed
0.10%--Club Account
0.10%$100-Business Savings
0.10%--Secondary Business Savings

Sound Credit Union Money Market Rates

ApyMinMaxProduct
0.50%$500k-High-Yield Money Market
0.50%$500k-Business High-Yield Money Market
0.25%$50k-Money Market Plus
0.25%$50k-Business Money Market Plus
0.15%$5k-Money Market
0.15%$5k-Business Money Market

Sound Credit Union CD Rates

ApyMinMaxProduct
1.30%$100k-60 Month Jumbo CD
1.30%$100k-Business 60 Month Jumbo CD
1.25%$500-60 Month CD
1.25%$500-Business 60 Month CD
0.85%$500-48 Month CD
0.85%$500-Business 48 Month CD
0.70%$100k-36 Month Jumbo CD
0.70%$100k-Business 36 Month Jumbo CD
0.65%$500-36 Month CD
0.65%$500-Business 36 Month CD
0.45%$2,500-30 Month Flex CD
0.45%$100k-24 Month Jumbo CD
0.45%$100k-Business 24 Month Jumbo CD
0.45%$2,500-Business 30 Month Flex CD
0.40%$500-24 Month CD
0.40%$500-Business 24 Month CD
0.30%$100k-18 Month Jumbo CD
0.30%$100k-Business 18 Month Jumbo CD
0.25%$2,500-18 Month Flex CD
0.25%$100k-11 Month Jumbo CD
0.25%$100k-12 Month Jumbo CD
0.25%$100k-Business 11 Month Jumbo CD
0.25%$100k-Business 12 Month Jumbo CD
0.25%$2,500-Business 18 Month Flex CD
0.20%$500-11 Month CD
0.20%$500-12 Month CD
0.20%$100k-6 Month Jumbo CD
0.20%$100k-9 Month Jumbo CD
0.20%$100k-Business 6 Month Jumbo CD
0.20%$100k-Business 9 Month Jumbo CD
0.20%$500-Business 11 Month CD
0.20%$500-Business 12 Month CD
0.15%$500-6 Month CD
0.15%$500-9 Month CD
0.15%$500-Business 6 Month CD
0.15%$500-Business 9 Month CD
0.10%$500-3 Month CD
0.10%$500-Business 3 Month CD

Sound Credit Union IRA Rates

ApyMinMaxProduct
1.35%$1k-60 Month IRA
0.75%$1k-36 Month IRA
0.50%$1k-24 Month IRA
0.35%$1k-18 Month IRA
0.30%$1k-12 Month IRA

Rates updated: 5/27/2012

Data for Q4 2011


Institution Statistics


SOUND
NCUA #66331
BankRate ReportView
Year Chartered1940
Employees204
Primary Regulator

Assets and Liabilities

Assets$1.04 billion
Loans$578.61 million
Deposits$918.46 million
Equity Capital$76.21 million
Loan Loss Allowance$7.50 million
Unbacked Noncurrent Loans$9.43 million
Real Estate Owned$727,000

Historic Data - December 2010

Assets$544.53 million
Equity Capital$53.84 million
Loan Loss Allowance$7.08 million
Unbacked Noncurrent Loans$7.10 million
Real Estate Owned$38,000

Profit Margin - Quarterly

Net Interest Margin3.77%
Return on Assets0.81%
Return on Equity11.05%
Interest Income$27.86 million
Non-Interest Income$13.73 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio4
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2011 Sound Credit Union had $10.16 million in non-current loans and owned real-estate with $83.7 million in equity and loan loss allowances on hand to cover it. This gives Sound Credit Union a Texas Ratio of 12.14% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Sound Credit Union held steady from 11.72% as of December 31, 2010 to 12.14% as of December 31, 2011, resulting in a negative change of 3.58%. This indicates that the balance sheet and financial strength for Sound Credit Union has held steady in recent periods.
Deposit Growth5
In the past year, Sound Credit Union has increased its total deposits by $462.81 million, resulting in 101.57% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Sound Credit Union has shown is excellent.
Capitalization3
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Sound Credit Union has $1.04 billion in assets with $83.7 million in equity, resulting in a capitalization level of 8.06%, which is average.
Write Review

Just Another Callous Credit Union
1 stars - Daisy - Tuesday, September 20, 2011 - 2:59 PM

This credit union used to be a "home town" credit union.  It has recently changed its policy of understanding to one of strong-arm collection tactics.  Fair warning: if you get behind on your payments, they stop accepting payments, turn your account over to Merchant's Credit, who will tack on 25% to the debt.  Steer clear.

7

Sound Credit Union
1 stars - rpgramma - Friday, October 28, 2011 - 3:22 AM

NEVER had such a bad time with a financial institution in my life! God help you if your spouse passes away unexpectedly and your accounts are at sound. They freeze all accounts so you have NO access to ANY of your money until they are PAID IN FULL. They could care less you have just had a tragic loss in your life. Nope...they freeze your checking account so you cannot possibly pay your bills. Then they charge you late fees for not paying! They finally took their loan payment out of my account and charged me a late fee the same day! Way to go Sound!

6
Vote:
0
$100 Checking Account Bonus
OfferCheckingCash
View Promo Details »
Leave a Comment »