Sound Credit Union

Overview / Commentary
1331 Broadway
Tacoma, WA 98402

Sound Credit Union is headquartered in Tacoma and is the 7th largest credit union in the state of Washington. It is also the 152nd largest credit union in the nation. It was established in 1940 and as of June of 2023, it had grown to 390 employees and 168,679 members at 27 locations. Sound Credit Union's money market rates are 5X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Sound Credit Union is open to individuals who work, live, or attend school in the state of Washington. Employees of more than 30 Select Employer Groups also qualify, as do direct relatives of membership-eligible individuals.
See current membership details

Happy Long Time Members!

We have been members of Sound Credit Union since 1991. From day one, we've been happy with our experience. They have some of the best loan rates around and our checking account is free. The service has always been great. We really like the updated website and the information we're looking for is easy to find. Their online banking and bill pay is user friendly making our account accessible 24/7. We look forward to many more happy years.....and thank you for making our banking experience a good one!

Learning To Like

My credit union mereged with Sound, and at first it was rough, and I did not like it. Things have gotten better, and there has been no reason to consider switching banks lately. I have had experience with bad banks, but thankfully Sound is not one of them.

Switched to Sound Credit Union

Posted by: |

After being dissatisfied with my bank in Kansas for several years I made a switch to Sound Credit Union, one of the local credit unions in the Washington State area. The minimum deposit was around $75; I was required to open a Savings Account along with my Checking Account.

As far as general teller services go, the credit union is great. Everyone is helpful and even willing to negotiate issues like overdraft fees and fraud-related account problems. I get seen almost instantly every time I walk in, and their online system, while standard, works just as well as any out there. Also, their overdraft protection system is very consumer-friendly - rather than charging you $35, $40, or more for a single overdraft to your checking account, there's only a small $5 fee to withdraw what's needed from savings as backup. This adds up over time, for for little accounting mistakes it's a huge saving grace. If the money truly isn't available they also forgive one overdraft per year. They also offer the usual deal where you get $100 for switching after so many direct deposits.

The biggest downside I can think of is their ATM services. The main branch in Downtown Tacoma is way behind the times - The ATM there doesn't even accept check or cash deposits! This means if I -must- do something on a Sunday or similar, I can't. There's also a monthly fee for checking if you don't maintain at least $25 in your savings account, which is rough if you're very low-income. There's also a monthly transfer limit, which is a little annoying - I have to head out to an ATM every time I want to transfer between checkings and savings.

Overall, I'd recommend Sound if you want something small, considerate, and local and don't need all the bells and whistles of an account with a big national bank.

Online Portal Is Frustrating; Transfers Canceled Without Notice. It Shouldn't Be This Hard.

I've been with Sound Credit union for a few years. It's not been a horrible experience, but it's not been great.

The online portal is hard to use. 2FA is required for every sign in, requiring a phonecall with a robotic voice that takes forever (Google Authenticator is supposed to be an option but fails to work).

At times, the voice option has gone done, meaning I'm locked out of the portal.

Tellers at the banks I've been to have been nice, but I also had someone flat out refuse to see if they had a dollar coin in their till.

Latest frustration was a change in their system for external transfers. It stopped all ongoing transfers I had, meaning I missed payments to others. There was no notification about this new system, or that they'd just erase what was already setup. This happened to another person I know with SCU.

Looking at another credit union now.



Health Grade Components

NCUA #66331
Year Chartered1940
Primary Regulator
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD8.4%
Annual Interest Income$55.3MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$2.84B$2.62B
LoansQ2 2023vs Q2 2022$2.17B$1.87B
DepositsQ2 2023vs Q2 2022$2.37B$2.32B
Equity CapitalQ2 2023vs Q2 2022$276.5MM$263.6MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$10.0MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$6.3MM$3.9MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Sound Credit Union Savings Account Rates

3.04%*$100k*-Business High-Yield Savings
OTHER TIERS: 0.05% Up to $100k
0.15%--IRA Savings
0.15%--Health Savings Account
0.05%$100-Prime Savings
0.05%$100-Business Savings
0.05%--Secondary Business Savings
0.05%--Minor Savings
0.05%--Secondary Savings
0.05%$100-Cannabis Business Savings
0.05%--Cannabis Secondary Business Savings

Sound Credit Union Money Market Rates

2.02%--High-Yield Money Market
2.02%--Business High-Yield Money Market
2.02%--Cannabis Business High-Yield Money Market

Sound Credit Union Checking Account Rates

0.30%*$50k*-IOLTA Checking
OTHER TIERS: 0.15% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
0.10%$1-Business Interest Checking
0.10%--Interest Checking

Sound Credit Union CD Rates

5.00%$500-10 Month Unlimited Add On Certificate Special
5.00%$500-Business 10 Month Unlimited Add On Certificate Special
5.00%--Cannabis Business 10 Month Add-On CD Special
4.95%$500-6 Month CD
4.95%$100k-6 Month Jumbo CD
4.95%$500-Business 6 Month CD
4.95%$500-Cannabis Business 6 Month CD
4.90%$500-3 Month CD
4.90%$500-Business 3 Month CD
4.90%$500-Cannabis Business 3 Month CD
4.15%$100k-Business 6 Month Jumbo CD
4.15%$100k-Cannabis Business 6 Month Jumbo CD
4.00%$100k-Business 18 Month Jumbo CD
4.00%$100k-Cannabis Business 18 Month Jumbo CD
3.37%$100k-12 Month Jumbo CD
3.37%$100k-Business 12 Month Jumbo CD
3.37%$100k-Cannabis Business 12 Month Jumbo CD
3.27%$500-12 Month CD
3.27%$500-Business 12 Month CD
3.27%$500-Cannabis Business 12 Month CD
2.15%$100k-60 Month Jumbo CD
2.15%$100k-Business 60 Month Jumbo CD
2.15%$100k-Cannabis Business 60 Month Jumbo CD
2.10%$500-60 Month CD
2.10%$100k-24 Month Jumbo CD
2.10%$100k-Business 24 Month Jumbo CD
2.10%$500-Business 60 Month CD
2.10%$2.5k-60 Month Bump CD
2.10%$2.5k-Business 60 Month Bump CD
2.10%$500-Cannabis Business 60 Month CD
2.10%$2.5k-Cannabis Business 60 Month Bump CD
2.10%$100k-Cannabis Business 24 Month Jumbo CD
2.05%$500-48 Month CD
2.05%$500-Business 48 Month CD
2.05%$500-Cannabis Business 48 Month CD
2.00%$500-24 Month CD
2.00%$100k-36 Month Jumbo CD
2.00%$500-Business 24 Month CD
2.00%$100k-Business 36 Month Jumbo CD
2.00%$500-Cannabis Business 24 Month CD
2.00%$100k-Cannabis Business 36 Month Jumbo CD
1.96%$2.5k-36 Month Bump CD
1.96%$2.5k-Business 36 Month Bump CD
1.96%$2.5k-Cannabis Business 36 Month Bump CD
1.90%$2.5k-18 Month Flex CD
1.90%$100k-18 Month Jumbo CD
1.90%$2.5k-Business 18 Month Flex CD
1.90%$2.5k-Cannabis Business 18 Month Flex CD
1.86%$500-36 Month CD
1.86%$500-Business 36 Month CD
1.86%$500-Cannabis Business 36 Month CD
1.75%$2.5k-30 Month Flex CD
1.75%$2.5k-Business 30 Month Flex CD
1.75%$2.5k-Cannabis Business 30 Month Flex CD

Sound Credit Union IRA Rates

4.50%$1k-12 Month IRA
2.15%$1k-60 Month IRA
2.10%$1k-18 Month IRA
2.10%$1k-24 Month IRA
2.10%$1k-36 Month IRA


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