Credit union
Sound Credit Union
Tacoma, Washington, Pierce County, WA
$3.4B in total assets and 184,758 members, the 146th largest of 4,298 US credit unions and 7th of 73 headquartered in Washington.
- NCUA charter
- 66331
- Charter
- State chartered (WA)
- Chartered
- 1985
- NCUA insured since
- 1971
- Low-income designation
- Yes
- Website
- https://www.soundcu.com
At a glance
Compared with 16 federally insured credit unions in Washington with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This credit union | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $3.4B | 69% | $2.8B | |
| Loans | $2.7B | 62% | $2.1B | |
| Deposits (shares) | $2.9B | 69% | $2.4B | |
| Members | 184,758 | 69% | 144,013 | |
| Return on assets | 0.95% | 75% | 0.67% | |
| Net interest income to assets | 3.44% | 25% | 3.79% | |
| Efficiency ratio | 67.1% | 25% | 72.1% | |
| Net worth ratio | 11.01% | 38% | 11.26% | |
| Loans to shares | 94% | 56% | 93% | |
| Cost of deposits | 1.91% | 81% | 1.65% |
Ratios are annualized from year-to-date figures. Return on assets uses average assets, as NCUA does. Cost of deposits includes dividends on shares.
Growth
Total assets grew 10.0% a year over 10 years and 7.3% a year over the last 5, including 3 mergers in the last 10 years. Membership grew 4.7% a year over 5 years, to 184,758.
Dashed lines mark larger mergers, listed below.
Mergers and acquisitions
| Closed | Absorbed | Assets at last filing |
|---|---|---|
| Dec 2024 | Washington Business Bank Bank, Olympia, WA | $93M |
| Jul 2020 | Fluke Employees Federal Credit Union Credit union, Everett, WA | $3M |
| Mar 2019 | The Bank of Washington Bank, Lynnwood, WA | $206M |
| Nov 2015 | Port of Seattle Federal Credit Union Credit union, Seattle, WA | $10M |
| Nov 2014 | Darigold Federal Credit Union Credit union, Shoreline, WA | $5M |
| Sep 2011 | Watermark Credit Union Credit union, Seattle, WA | $542M |
Where they operate
25 branches in 4 counties.
Largest counties by branches
| County | Branches | Share of all branches | Rank |
|---|---|---|---|
| Pierce County, WA | 9 | 4.6% | 9 of 42 |
| King County, WA | 8 | 1.5% | 12 of 69 |
| Snohomish County, WA | 6 | 3.2% | 12 of 39 |
| Thurston County, WA | 2 | 2.3% | 13 of 29 |
Credit unions do not report deposits by branch, so these are branch counts: this credit union's branches against every bank and credit union branch in the county. Rank is among all banks and credit unions with a branch there.
Branches by year
| Year end | Branches | Change |
|---|---|---|
| 2016 | 24 | |
| 2017 | 24 | 0 |
| 2018 | 24 | 0 |
| 2019 | 28 | +4 |
| 2020 | 26 | −2 |
| 2021 | 26 | 0 |
| 2022 | 27 | +1 |
| 2023 | 26 | −1 |
| 2024 | 26 | 0 |
| 2025 | 26 | 0 |
| Jun 2026 | 25 | −1 |
Member-serving offices as listed in NCUA call reports. Changes include branches gained in mergers.
Earnings and credit
Return on assets
Year to date, annualized, with the peer median.
Credit and capital
| This credit union | Peer median | |
|---|---|---|
| Delinquent loans, 60+ days | 1.18% | 0.79% |
| Net worth ratio | 11.01% | 11.26% |
| Loans to shares | 94% | 93% |
Delinquent loans are two or more months past due. Net worth is NCUA's capital measure for credit unions.
Related
Credit unions of similar size in Washington
Most branches in Pierce County, WA
Figures as of June 30, 2026 from the credit union's NCUA call report (Form 5300), NCUA's credit union locator and FFIEC merger records.