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National Credit Union Service Organization

SOUND CREDIT UNION

Jun, 30, 2023 — SOUND CREDIT UNION is a federally insured state chartered credit union headquartered in TACOMA, WA with 27 branch locations and about $2.64 billion in total assets. Opened 84 years ago in 1940, SOUND CREDIT UNION has about 161,690 members and employs 401 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:161,690
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:$2,635,334,399
CEO/Manager:Don Clark
Chairperson:David J Wasson

Call Report

  • International Remittances

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 163,077,575
TOTAL INVESTMENTS 0
Loans Held for Sale 1,789,900
 
 Real Estate Loans 1,101,020,818
 Unsecured Loans 94,554,652
 Other Loans 820,888,508
 TOTAL LOANS 2,016,567,729
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -11,342,786
 Land And Building 51,209,005
 Other Fixed Assets 5,409,943
 NCUSIF Deposit 20,298,051
 All Other Assets 731,735
  TOTAL ASSETS 2,635,334,399
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 31,597,615
 Accounts Payable & Other Liabilities 39,143,442
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 607,305,222
 Regular shares 943,535,305
 All Other Shares & Deposits 750,303,439
  TOTAL SHARES & DEPOSITS 2,301,143,966
  TOTAL LIABILITIES 2,371,885,023
 Regular Reserve 0
 Other Reserves -5,146,089
 Undivided Earnings 268,595,465
  TOTAL EQUITY 263,449,376
  TOTAL LIABILITIES, SHARES, & EQUITY 2,635,334,399
INCOME & EXPENSE  
 Loan Income 57,396,475
 Investment Income 4,279,242
 Other Income 9,646,665
 Total Employee Compensation & Benefits 29,479,454
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 30,771,493
 Non-operating Income & (Expense) -60,059
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 4,920,298
 Cost of Funds 3,097,776
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 17,521,068
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