Sound Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 0.05% | Checking | Visions Checking 0.90% - nbkc bank Personal Account |
| 2.02% | 5-year CD | 60 Month Bump CD 2.85% - Barclays 60 Month Online CD |
| 0.70% | 1-year CD | 12 Month CD |
Sound Credit Union is headquartered in Tacoma and is the 8th largest credit union in the state of Washington. It is also the 184th largest credit union in the nation. It was established in 1940 and as of March of 2018, it had grown to 272 employees and 121,511 members at 24 locations. Sound Credit Union's money market rates are 25% higher than the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Sound Credit Union is open to those who live or work in the state of Washington and their immediate family and to employees of one of the credit union's Select Employer Groups.
See current membership details
Related Posts
7/4/09 - 3.00% 24-Month CD at Sound Credit Union in Washington State - Local Only
9/12/08 - 4.25% 12-Month CD at Sound Credit Union in Washington State
5/3/08 - 3.90% 11-Month CD at a Washington State CU - and $100 Checking Bonus (Sound).
2/14/08 - $100 Checking Account Bonus at a Washington State CU (Sound)
6/8/07 - 5.50% 9-Month CD at a Washington State CU (Sound)
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
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.
Unreasonable
I do not recommend Sound Credit Union. I've been in good standing with them for over 20 years. I recently had a situation where I was not informed about the going into arrears, due to divorce decree stating my ex was responsible for the balance. The statements went to my ex's address. I was not notified by mail, email or phone. I didn't know about the situation until it was almost into collections, I was alerted by credit karma. I contacted Sound immediately to come to a resolution. I was told that if I paid off the amount my credit would recover. I then started the process of paying them off. Thinking everything was resolved I moved on.Then I received another alert saying I was late. I called them asap thinking the monies were applied elsewhere. I was told that they would report this as bad credit for 7 years even though I paid off the account. They are capable of fixing, but refuse to do so. I borrowed money I didn't have to fix this. The people were rude and unsympathetic.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 66331 |
| Year Chartered | 1940 |
| Employees | 272 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.21% |
| Return on Equity - YTD | 9.64% |
| Annual Interest Income | $13.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2018vs Q1 2017 | $1.51B$1.41B |
| Loans | Q1 2018vs Q1 2017 | $1.11B$996.8MM |
| Deposits | Q1 2018vs Q1 2017 | $1.30B$1.22B |
| Equity Capital | Q1 2018vs Q1 2017 | $186.6MM$167.2MM |
| Loan Loss Allowance | Q1 2018vs Q1 2017 | $7.5MM$6.4MM |
| Unbacked Noncurrent Loans | Q1 2018vs Q1 2017 | $1.2MM$1.8MM |
| Real Estate Owned | Q1 2018vs Q1 2017 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Sound Credit Union; 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 Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.20% | - | - | 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 |
Sound Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.55%* | $250k* | - | High-Yield Money Market | ||
| OTHER TIERS: 0.20% → Up to $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.50% → $100k - $250k | |||||
| 0.55%* | $250k* | - | Business High-Yield Money Market | ||
| OTHER TIERS: 0.20% → Up to $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.40% → $50k - $100k | 0.50% → $100k - $250k | |||||
Sound Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $50k* | - | High-Yield Checking | ||
| OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | |||||
| 0.30%* | $50k* | - | High-Yield Business Checking | ||
| OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | |||||
| 0.30%* | $50k* | - | IOLTA Checking | ||
| OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | |||||
| 0.05% | $1k | - | Plus Checking | ||
| 0.05% | $1k | - | Advantage Checking | ||
| 0.05% | - | - | Visions Checking | ||
Sound Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.07% | $100k | - | 60 Month Jumbo CD | |
| 2.07% | $100k | - | Business 60 Month Jumbo CD | |
| 2.02% | $500 | - | 60 Month CD | |
| 2.02% | $500 | - | Business 60 Month CD | |
| 2.02% | $2,500 | - | 60 Month Bump CD | |
| 2.02% | $2,500 | - | Business 60 Month Bump CD | |
| 1.56% | $500 | - | 48 Month CD | |
| 1.56% | $500 | - | Business 48 Month CD | |
| 1.51% | $100k | - | 36 Month Jumbo CD | |
| 1.51% | $100k | - | Business 36 Month Jumbo CD | |
| 1.46% | $500 | - | 36 Month CD | |
| 1.46% | $500 | - | Business 36 Month CD | |
| 1.46% | $2,500 | - | 36 Month Bump CD | |
| 1.46% | $2,500 | - | Business 36 Month Bump CD | |
| 1.11% | $2,500 | - | 30 Month Flex CD | |
| 1.11% | $2,500 | - | Business 30 Month Flex CD | |
| 1.06% | $100k | - | 24 Month Jumbo CD | |
| 1.06% | $100k | - | Business 24 Month Jumbo CD | |
| 1.00% | $500 | - | 24 Month CD | |
| 1.00% | $100k | - | 18 Month Jumbo CD | |
| 1.00% | $100k | - | Business 18 Month Jumbo CD | |
| 1.00% | $500 | - | Business 24 Month CD | |
| 0.90% | $2,500 | - | 18 Month Flex CD | |
| 0.90% | $2,500 | - | Business 18 Month Flex CD | |
| 0.80% | $100k | - | 12 Month Jumbo CD | |
| 0.80% | $100k | - | Business 12 Month Jumbo CD | |
| 0.70% | $500 | - | 12 Month CD | |
| 0.70% | $500 | - | Business 12 Month CD | |
| 0.50% | $100k | - | 6 Month Jumbo CD | |
| 0.50% | $100k | - | Business 6 Month Jumbo CD | |
| 0.40% | $500 | - | 6 Month CD | |
| 0.40% | $500 | - | Business 6 Month CD | |
| 0.30% | $500 | - | 3 Month CD |
Sound Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.12% | $1k | - | 60 Month IRA | |
| 1.46% | $1k | - | 36 Month IRA | |
| 1.11% | $1k | - | 24 Month IRA | |
| 0.95% | $1k | - | 18 Month IRA | |
| 0.80% | $1k | - | 12 Month IRA |
