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National Credit Union Service Organization

SOUND CREDIT UNION

Mar, 31, 2022 — SOUND CREDIT UNION is a federally insured state chartered credit union headquartered in TACOMA, WA with 27 branch locations and about $2.62 billion in total assets. Opened 82 years ago in 1940, SOUND CREDIT UNION has about 154,648 members and employs 393 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 325183220
Name:SOUND CREDIT UNION
Address:
(Main Office)
1331 Broadway
TACOMA, WA 98402-3410
Phone:(253) 383-2016
Fax:(253) 597-7610
Website:https://www.soundcu.com
Branches:27 branch locations
Members:154,648
Credit Union Type:Federally Insured State Chartered Credit Union
Charter Number:66331
Membership Type:State chartered natural person
Corporate Credit Union:No
Year Opened:1940
Last Audited:Dec 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$2,622,652,756
CEO/Manager:Don Clark
Chairperson:David J Wasson

Call Report

  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 412,246,015
TOTAL INVESTMENTS 0
Loans Held for Sale 645,750
 
 Real Estate Loans 962,563,997
 Unsecured Loans 90,654,011
 Other Loans 678,363,281
 TOTAL LOANS 1,731,695,757
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -9,954,970
 Land And Building 51,860,102
 Other Fixed Assets 6,123,276
 NCUSIF Deposit 19,167,683
 All Other Assets 568,283
  TOTAL ASSETS 2,622,652,756
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 1,628,865
 Accounts Payable & Other Liabilities 28,189,664
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 629,749,873
 Regular shares 953,734,299
 All Other Shares & Deposits 748,825,533
  TOTAL SHARES & DEPOSITS 2,332,309,705
  TOTAL LIABILITIES 2,362,128,234
 Regular Reserve 0
 Other Reserves 5,053,071
 Undivided Earnings 255,471,451
  TOTAL EQUITY 260,524,522
  TOTAL LIABILITIES, SHARES, & EQUITY 2,622,652,756
INCOME & EXPENSE  
 Loan Income 17,967,398
 Investment Income 942,735
 Other Income 2,962,264
 Total Employee Compensation & Benefits 9,655,013
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 10,204,495
 Non-operating Income & (Expense) -95,456
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 1,404,219
 Cost of Funds 1,022,607
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 4,619,465
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