Sound Credit Union (Sound), a prominent financial institution headquartered in Tacoma, Washington, has officially completed its acquisition of Washington Business Bank (OTCPK: WBZB), based in Olympia, Washington. This significant transaction, finalized late last week, marks a strategic milestone for both organizations. As part of the acquisition, Sound has taken ownership of all assets and assumed substantially all liabilities of Washington Business Bank, further solidifying its presence in the region.
Expanding Sound Credit Union’s Reach
The acquisition has propelled Sound Credit Union’s total assets to over $3 billion, a remarkable achievement that underscores its growth trajectory. With this expansion, the credit union now holds more than $2.5 billion in deposits and $2.3 billion in loans, reflecting its robust financial standing. The integration of Washington Business Bank into Sound’s operations also enhances its branch network, bringing the total to 26 full-service locations across the state of Washington.
A new addition to Sound’s branch portfolio is the Washington Business Bank location at 5th Avenue Southeast and Franklin Street in Olympia. This strategic expansion not only increases the institution’s geographic footprint but also strengthens its ability to offer personalized and business-oriented financial solutions to a broader audience.
A Warm Welcome to New Members and Staff
Expressing enthusiasm about the acquisition, Don Clark, President and CEO of Sound Credit Union, highlighted the institution’s commitment to its new members and employees. “We are excited to announce the completion of the acquisition with Washington Business Bank and to welcome their clients and team members to the Sound family,” Clark stated.
He emphasized the credit union’s dedication to fostering meaningful relationships with its new members and ensuring seamless service delivery. “We are looking forward to building meaningful relationships with our new members and gaining a deeper understanding of how we can best serve them and others throughout Thurston County,” he added.
Commitment to Smooth Integration
The transition process will unfold over the coming months, with a focus on full-system integration to unify the operations of both organizations. Regular updates will be communicated to Sound members, ensuring transparency and a smooth transition experience.
Clark reassured members of the credit union’s unwavering support throughout this process. “As we move forward together, Sound will seek opportunities to support our members and community with a suite of financial products and services that help them manage their finances with ease,” he said.
This merger is more than a financial transaction; it is a step toward fostering stronger community connections. “Most importantly, we want our members, employees, and community to know we genuinely care and are committed to building meaningful relationships with them. At Sound, we will always stand with you through all waves of life,” Clark affirmed.
Looking Ahead
The acquisition of Washington Business Bank positions Sound Credit Union as a stronger financial partner for individuals and businesses in the state of Washington. With a comprehensive range of personal and business products, the institution aims to empower its members to take control of their financial futures confidently.
As Sound Credit Union continues to grow, its focus remains on delivering exceptional service, innovative solutions, and community support. This acquisition is not just about increasing numbers but also about strengthening relationships and providing enhanced opportunities for financial well-being.
For current and new members, this development represents an opportunity to benefit from the expanded resources and expertise that Sound Credit Union brings to the table. With its deep commitment to serving the community and a proven track record of excellence, the future looks bright for Sound Credit Union and its growing family of members.
