Sound Community Bank


Overview / Commentary
800-458-5585
2400 Third Avenue
Seattle, WA 98121

Sound Community Bank is headquartered in SEATTLE and is the 17th largest bank in the state of Washington. It is also the 993rd largest bank in the nation. It was established in 1953 and as of December of 2023, it had grown to 138 employees at 10 locations. Sound Community Bank's money market rates are 11X the national average, and it has an A health rating.

Reviews (1)

DO NOT OPEN AN ACCOUNT HERE!!!!!

Posted by: |

Their lack of security measures allowed my business bank account to be hacked for over $4500!! The purchases were made overseas -- I never leave the country -- and should have been a HUGE red flag to any reputable bank with a half decent fraud protection system. They allowed OVER 70 CHARGES to go through before finally sending a text message to ask if the charges were legitimate. ARE YOU KIDDING ME?!?!
And after MONTHS of waiting for the dispute to settle, I was only refunded $2500!!! And because it's a business account, they will not refund the remainder of the funds that THEY ALLOWED TO BE WITHDRAWN FROM MY ACCOUNT!!!!!!

There are WAY better banks out there. Business owners--- DO YOUR RESEARCH!!!!!! DO NOT USE THIS BANK EVER!!!!



Health

Health Grade Components

Overall
FDIC Certificate #57451
Year Established1953
Employees138
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD7.75%
Annual Interest Income$50.7MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$995.4MM$976.5MM
LoansQ4 2023vs Q4 2022$886.3MM$858.4MM
DepositsQ4 2023vs Q4 2022$830MM$813.5MM
Equity CapitalQ4 2023vs Q4 2022$112.7MM$107.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$8.8MM$7.6MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$3.5MM$2.9MM
Real Estate OwnedQ4 2023vs Q4 2022$575K$659K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Sound Community Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Sound Community Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$100-Regular Savings Account
0.10%$100-Business Savings Account
0.10%--Educational Savings
0.10%--IRA Savings
0.10%--Youth Savings Account
0.10%$1k-Health Savings Account

Sound Community Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.85%*$250k*-Momentum Money Market
OTHER TIERS: 2.02% $25k - $50k | 2.53% $50k - $100k | 4.59% $100k - $250k
4.85%*$250k*-Business Momentum Money Market
OTHER TIERS: 2.02% $25k - $50k | 2.53% $50k - $100k | 4.59% $100k - $250k
4.65%*$1m*-Apex Money Market - Online Only
OTHER TIERS: 0.25% Up to $25k | 2.02% $25k - $50k | 2.53% $50k - $100k | 4.02% $100k - $250k | 4.23% $250k - $500k | 4.44% $500k - $1m
4.65%*$1m*-Business Apex Money Market
OTHER TIERS: 0.25% Up to $25k | 2.02% $25k - $50k | 2.53% $50k - $100k | 4.02% $100k - $250k | 4.23% $250k - $500k | 4.44% $500k - $1m
1.41%*$1m*-eMoney Maker
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $50k | 0.21% $50k - $100k | 0.26% $100k - $250k | 0.76% $250k - $500k | 1.16% $500k - $1m
1.41%*$1m*-Business eMoney Maker
OTHER TIERS: 0.10% Up to $25k | 0.15% $25k - $50k | 0.21% $50k - $100k | 0.26% $100k - $250k | 0.76% $250k - $500k | 1.16% $500k - $1m

Sound Community Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.53%*$50k*-Interest Plus Checking
OTHER TIERS: 0.10% Up to $5k | 0.50% $5k - $20k | 2.02% $20k - $50k
0.01%$1k-Prime Checking (50+)

Sound Community Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.12%$100k-10 Month Jumbo CD with Checking
5.12%$100k-Business 10 Month Jumbo CD with Checking
4.85%$1k-10 Month CD with Checking
4.85%$500-10 Month Youth CD with Checking
4.85%$1k-Business 10 Month CD with Checking
4.59%$100k-12 Month Jumbo CD with Checking
4.59%$100k-Business 12 Month Jumbo CD with Checking
4.59%$100k-10 Month Jumbo CD
4.59%$100k-Business 10 Month Jumbo CD
4.54%$100k-6 Month Jumbo CD with Checking
4.54%$100k-Business 6 Month Jumbo CD with Checking
4.33%$100k-18 Month Jumbo CD with Checking
4.33%$100k-Business 18 Month Jumbo CD with Checking
4.33%$1k-10 Month CD
4.33%$500-10 Month Youth CD
4.33%$1k-Business 10 Month CD
4.28%$100k-24 Month Jumbo CD with Checking
4.28%$100k-Business 24 Month Jumbo CD with Checking
4.07%$100k-12 Month Jumbo CD
4.07%$100k-Business 12 Month Jumbo CD
4.02%$100k-6 Month Jumbo CD
4.02%$100k-Business 6 Month Jumbo CD
3.97%$100k-36 Month Jumbo CD with Checking
3.97%$100k-Business 36 Month Jumbo CD with Checking
3.82%$1k-12 Month CD with Checking
3.82%$1k-Business 12 Month CD with Checking
3.82%$100k-3 Month Jumbo CD with Checking
3.82%$100k-18 Month Jumbo CD
3.82%$100k-Business 3 Month Jumbo CD with Checking
3.82%$100k-Business 18 Month Jumbo CD
3.82%$500-12 Month Youth CD with Checking
3.76%$1k-6 Month CD with Checking
3.76%$1k-Business 6 Month CD with Checking
3.76%$100k-24 Month Jumbo CD
3.76%$100k-Business 24 Month Jumbo CD
3.76%$500-6 Month Youth CD with Checking
3.56%$1k-12 Month CD
3.56%$1k-18 Month CD with Checking
3.56%$1k-Business 12 Month CD
3.56%$1k-Business 18 Month CD with Checking
3.56%$1k-3 Month CD with Checking
3.56%$1k-Business 3 Month CD with Checking
3.56%$500-3 Month Youth CD with Checking
3.56%$500-12 Month Youth CD
3.56%$500-18 Month Youth CD with Checking
3.51%$1k-24 Month CD with Checking
3.51%$1k-Business 24 Month CD with Checking
3.51%$500-24 Month Youth CD with Checking
3.45%$100k-36 Month Jumbo CD
3.45%$100k-Business 36 Month Jumbo CD
3.30%$100k-3 Month Jumbo CD
3.30%$100k-Business 3 Month Jumbo CD
3.25%$1k-6 Month CD
3.25%$1k-Business 6 Month CD
3.25%$500-6 Month Youth CD
3.20%$1k-36 Month CD with Checking
3.20%$1k-Business 36 Month CD with Checking
3.20%$500-36 Month Youth CD with Checking
3.14%$100k-48 Month Jumbo CD with Checking
3.14%$100k-Business 48 Month Jumbo CD with Checking
3.04%$1k-18 Month CD
3.04%$1k-Business 18 Month CD
3.04%$1k-3 Month CD
3.04%$1k-Business 3 Month CD
3.04%$100k-60 Month Jumbo CD with Checking
3.04%$100k-Business 60 Month Jumbo CD with Checking
3.04%$500-3 Month Youth CD
3.04%$500-18 Month Youth CD
2.99%$1k-24 Month CD
2.99%$1k-Business 24 Month CD
2.99%$500-24 Month Youth CD
2.78%$1k-48 Month CD with Checking
2.78%$1k-60 Month CD with Checking
2.78%$1k-Business 48 Month CD with Checking
2.78%$1k-Business 60 Month CD with Checking
2.78%$500-48 Month Youth CD with Checking
2.78%$500-60 Month Youth CD with Checking
2.68%$1k-36 Month CD
2.68%$1k-Business 36 Month CD
2.68%$500-36 Month Youth CD
2.63%$100k-48 Month Jumbo CD
2.53%$100k-60 Month Jumbo CD
2.53%$100k-Business 48 Month Jumbo CD
2.53%$100k-Business 60 Month Jumbo CD
2.27%$1k-48 Month CD
2.27%$1k-60 Month CD
2.27%$1k-Business 48 Month CD
2.27%$1k-Business 60 Month CD
2.27%$500-48 Month Youth CD
2.27%$500-60 Month Youth CD

Sound Community Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.85%$500-10 Month IRA with Checking
4.33%$500-10 Month IRA
3.82%$500-12 Month IRA with Checking
3.76%$500-6 Month IRA with Checking
3.56%$500-12 Month IRA
3.56%$500-18 Month IRA with Checking
3.56%$500-3 Month IRA with Checking
3.51%$500-24 Month IRA with Checking
3.25%$500-6 Month IRA
3.20%$500-36 Month IRA with Checking
3.04%$500-18 Month IRA
3.04%$500-3 Month IRA
2.99%$500-24 Month IRA
2.78%$500-48 Month IRA with Checking
2.78%$500-60 Month IRA with Checking
2.68%$500-36 Month IRA
2.27%$500-48 Month IRA
2.27%$500-60 Month IRA
Locations


Cities: Mountlake Terrace, Port Angeles, Port Ludlow, Seattle, Sequim, Tacoma, University Place

Mountlake Terrace Branches
Cedar Plaza22807 44th Avenue WestMountlake Terrace, WA 98043

Port Angeles Branches
Port Angeles Branch110 North Alder StreetPort Angeles, WA 98362

Port Ludlow Branches
Port Ludlow Branch9500 Oak Bay RoadPort Ludlow, WA 98365

Seattle Branches
Sound Community Bank2400 3rd AveSeattle, WA 98121
Belltown2400 3rd Ave Suite 150Seattle, WA 98121
Downtown Seattle Office2001 Fifth AvenueSeattle, WA 98121

Sequim Branches
Sequim Branch645 W. Washington StreetSequim, WA 98382
Creekside990 East Washington Street, Suite FSequim, WA 98382

Tacoma Branches
Tacoma-South2941 South 38th StreetTacoma, WA 98409

University Place Branches
Westside Community Bank Branch4922 Bridgeport Way WestUniversity Place, WA 98467

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