Sound Federal Credit Union


Overview / Commentary
203-977-4701
888 Washington Blvd. - 6th Floor
Stamford, CT 06901-3706

Sound Federal Credit Union is headquartered in Stamford and is the 24th largest credit union in the state of Connecticut. It is also the 1,994th largest credit union in the nation. It was established in 1953 and as of June of 2020, it had grown to 12 employees and 5,994 members at 1 location. Sound Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Sound Federal Credit Union is open to anyone who lives, works, worships, volunteers, or attends school in Bridgeport, Darien, Easton, Fairfield, Greenwich, Monroe, New Canaan, Norwalk, Shelton, Stamford, Stratford, Trumbull, Weston, Westport, or Wilton. Family are also eligible to join.
See current membership details

Related Posts

Stamford Federal Credit Union Boosts 18-Month CD Rate - 2/13/2020

Stamford Federal Credit Union (CT) has added 150 bps to its 18-month Share Certificate (2.50% APY). Minimum opening deposit is $1k, with no stated balance cap.

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Reviews (1)

Excellent Experience

Posted by: |

I just completed the process of opening an 18 month certificate at Stamford FCU. The process was seamless. I first set up a share saving account, which was easy. I mailed in my funding checks for the certificate and all was completed accurately and quickly. The customer service was excellent.



Health
B+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Sound Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #24705
Year Chartered1953
Employees12
Primary Regulator
Profit Margin
Return on Assets - YTD0.26%
Return on Equity - YTD2.66%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$76.1MM$68.9MM
LoansQ2 2020vs Q2 2019$48.0MM$41.5MM
DepositsQ2 2020vs Q2 2019$68.0MM$60.6MM
Equity CapitalQ2 2020vs Q2 2019$7.2MM$7.0MM
Loan Loss AllowanceQ2 2020vs Q2 2019$268.00K$286.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$407.00K$245.00K
Real Estate OwnedQ2 2020vs Q2 2019$0$0
Rates

Sorry, we do not have rate data for Sound Federal Credit Union.

Locations


Sound Federal Credit Union Locations
Branch Office888 Washington BlvdStamford, CT 06901-2902

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