Sound CU Completes Acquisition of Bank

Sound Credit Union (Tacoma, WA) on March 26 finalized its acquisition of The Bank of Washington (Lynnwood, WA).

This is the first credit union to acquire a bank in the State of Washington.

The Bank of Washington had $206.3 million in assets at the end of 2018. Sound Credit Union had $1.5 billion in assets, as of December 2018.

Sound CU received the final regulatory approval from the National Credit Union Administration earlier in March 2019.

https://www.cuinsight.com/press-release/sound-credit-union-finalizes-acquisition-of-the-bank-of-washington