Sound Federal Credit Union is headquartered in Norwalk and is the 20th largest credit union in the state of Connecticut. It is also the 1,667th largest credit union in the nation. It was established in 1953 and as of December of 2022, it had grown to 31 employees and 9,380 members at 4 locations. 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
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Excellent Experience
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.
Data as of Q4 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24705 |
| Year Chartered | 1953 |
| Employees | 31 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.3% |
| Return on Equity - YTD | 2.98% |
| Annual Interest Income | $3.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $120.6MM$81.9MM |
| Loans | Q4 2022vs Q4 2021 | $88.7MM$58.3MM |
| Deposits | Q4 2022vs Q4 2021 | $107.9MM$73.3MM |
| Equity Capital | Q4 2022vs Q4 2021 | $10.4MM$7.5MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $234.00K$262.00K |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $702.00K$247.00K |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$0 |