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 25th largest credit union in the state of Connecticut. It is also the 2,031st largest credit union in the nation. It was established in 1953 and as of June of 2021, it had grown to 13 employees and 6,064 members at 1 location. Sound Federal Credit Union has an A 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

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
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
Employees13
Primary Regulator
Profit Margin
Return on Assets - YTD0.53%
Return on Equity - YTD5.57%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$80.4MM$76.1MM
LoansQ2 2021vs Q2 2020$52.2MM$48.0MM
DepositsQ2 2021vs Q2 2020$72.0MM$68.0MM
Equity CapitalQ2 2021vs Q2 2020$7.6MM$7.2MM
Loan Loss AllowanceQ2 2021vs Q2 2020$238.00K$268.00K
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$262.00K$407.00K
Real Estate OwnedQ2 2021vs Q2 2020$0$0
Rates

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

Locations


Sound Federal Credit Union Locations
Corporate Office888 Washington BlvdStamford, CT 06901-2924

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