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 156th largest credit union in the nation. It was established in 1940 and as of September of 2022, it had grown to 378 employees and 161,690 members at 27 locations. Sound Credit Union's money market rates are 4X the national average, and it has an A 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.

Skimming Money Off Checking Account

Posted by: |

We discovered a "pending" amount on our checkbook that we did not order. Called the support line and was assured it would be taken care of. They could see it was bogus. They even cancelled husband's debit card, which was what this person used. But, they did NOT remove it, instead they PAID IT!! took money out of our savings to do so! After we told them NOT to pay it. So, we now have zero in checking account. isn't that just wonderful!! We are so mad about this. If it is not solved very soon, we are taking our banking business elsewhere.



Health Grade Components

NCUA #66331
Year Chartered1940
Primary Regulator
Profit Margin
Return on Assets - YTD0.89%
Return on Equity - YTD8.87%
Annual Interest Income$61.7MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$2.64B$2.48B
LoansQ3 2022vs Q3 2021$2.02B$1.62B
DepositsQ3 2022vs Q3 2021$2.30B$2.19B
Equity CapitalQ3 2022vs Q3 2021$263.4MM$260.3MM
Loan Loss AllowanceQ3 2022vs Q3 2021$11.3MM$9.6MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$4.1MM$2.9MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0
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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

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

1.75%*$100k*-High-Yield Money Market
OTHER TIERS: 1.60% Up to $100k
1.75%*$100k*-Business High-Yield Money Market
OTHER TIERS: 1.60% Up to $100k
1.75%*$100k*-Cannabis Business High-Yield Money Market
OTHER TIERS: 1.60% Up to $100k

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

4.26%$2.5k-30 Month Flex CD Special
4.26%$2.5k-Business 30 Month Flex CD Special
4.26%$2.5k-Cannabis Business 30 Month Flex CD Special
4.00%$100k-18 Month Jumbo CD
4.00%$100k-Business 18 Month Jumbo CD
4.00%$100k-Cannabis Business 18 Month Jumbo CD
4.00%$2.5k-18 Month Flex CD Special
4.00%$2.5k-Business 18 Month Flex CD Special
4.00%$2.5k-Cannabis Business 18 Month Flex CD Special
3.35%$100k-12 Month Jumbo CD
3.35%$100k-Business 12 Month Jumbo CD
3.35%$100k-Cannabis Business 12 Month Jumbo CD
3.25%$500-12 Month CD
3.25%$500-Business 12 Month CD
3.25%$500-Cannabis Business 12 Month CD
2.35%$100k-60 Month Jumbo CD
2.35%$100k-Business 60 Month Jumbo CD
2.35%$2.5k-60 Month Bump CD
2.35%$2.5k-Business 60 Month Bump CD
2.35%$2.5k-Cannabis Business 60 Month Bump CD
2.35%$100k-Cannabis Business 60 Month Jumbo CD
2.25%$500-60 Month CD
2.25%$500-Business 60 Month CD
2.25%$500-Cannabis Business 60 Month CD
2.10%$100k-24 Month Jumbo CD
2.10%$100k-Business 24 Month Jumbo CD
2.10%$100k-Cannabis Business 24 Month Jumbo CD
2.05%$500-48 Month CD
2.05%$100k-6 Month Jumbo CD
2.05%$100k-Business 6 Month Jumbo CD
2.05%$500-Business 48 Month CD
2.05%$500-Cannabis Business 48 Month CD
2.05%$100k-Cannabis Business 6 Month Jumbo CD
2.00%$500-6 Month CD
2.00%$500-24 Month CD
2.00%$100k-36 Month Jumbo CD
2.00%$500-Business 6 Month CD
2.00%$500-Business 24 Month CD
2.00%$100k-Business 36 Month Jumbo CD
2.00%$500-Cannabis Business 6 Month CD
2.00%$500-Cannabis Business 24 Month CD
2.00%$100k-Cannabis Business 36 Month Jumbo CD
1.95%$2.5k-36 Month Bump CD
1.95%$2.5k-Business 36 Month Bump CD
1.95%$2.5k-Cannabis Business 36 Month Bump CD
1.85%$500-36 Month CD
1.85%$500-Business 36 Month CD
1.85%$500-Cannabis Business 36 Month CD
1.75%$500-3 Month CD
1.75%$500-Business 3 Month CD
1.75%$500-Cannabis Business 3 Month CD

Sound Credit Union IRA Rates

3.25%$1k-12 Month IRA
2.40%$1k-60 Month IRA
2.30%$1k-36 Month IRA
2.10%$1k-18 Month IRA
2.10%$1k-24 Month IRA


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