Overview
What is Sound Credit Union?
Sound Credit Union is a member-owned cooperative based in Tacoma, Washington. They manage over $2 billion in savings, checking, and money market deposit accounts for their members, along with 2,143 IRA savings accounts with a combined balance of $23 million. The union primarily pools these funds to finance consumer and real estate secured loans for its membership. With a team of 531 employees, Sound Credit Union serves as a financial cooperative dedicated to providing essential loan and deposit services to its members.
Official website here: www.soundcu.com
Is Sound Credit Union legitimate?
Sound Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Sound Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $4,411,207
Professional Fundraising Fees: $0
Other Salaries and Wages: $26,987,447
For more financial information, click here
What is the mission statement of Sound Credit Union?
Sound Credit Union is a member-owned cooperative that offers financial services, providing loans and share deposits to its membership. The cooperative manages over $2 billion in combined balances across savings, checking, and money market deposit accounts held by its members, as well as $23 million in IRA savings accounts. These funds are pooled and primarily used to finance consumer and real estate secured loans for the membership. The mission of Sound Credit Union is to serve its members by offering essential financial services and building a community of financial security.
Official website here: www.soundcu.com
Who is the CEO of Sound Credit Union?
Donald Clark Jr is the President/Ceo of Sound Credit Union. The CEO's salary of Sound Credit Union is $1,430,828 and their total compensation is $1,706,465.
Official website here: www.soundcu.com
What is the revenue of Sound Credit Union?
Who are the executives of Sound Credit Union and what are their salaries?
The average compensation at Sound Credit Union during 2022 was $59,131. There are 531 employees at Sound Credit Union.
Here are 23 key members and their salaries (Sound Credit Union's CEO's salary is $1,430,828 and their total compensation is $1,706,465):
- Donald Clark Jr (President/Ceo)
- Troy Garry (Evp/Chief Financial Officer)
- Wendy Cleveland (Evp/Chief Operations Officer)
- Kasey Brooks Winkler (Business Loan Officer)
- Robyn Lachance (Evp/Chief Administration Officer)
- Lyman Williams (Svp/Chief Lending Officer)
- Nancy Sternitzky (Svp/Chief Information Officer)
- Kimberly Mapes (Svp/Chief Employee Engagement Officer)
- Ryan Zilker (Svp/Chief Strategy & Marketing Officer)
- Charlene Henson (Svp/Chief Retail Officer)
- Andrew Bloom (Business Loan Officer)
- Uwe Goeker (Vp/Change Management & Enterprise Projects)
- Curtis Anderson (Vp/Business Lending)
- David Wasson (Director)
- Shelley Coleman (Chair) [Trustee/Director]
- John Bauder (Vice Chair) [Trustee/Director]
- Barry Wallis (Secretary/Treasurer) [Trustee/Director]
- Haluk Demirkian (Director)
- Jim Griggs (Director)
- Brenda Goodson-Moore (Director)
- Altaf Merchant (Director)
- Keith Mock (Director (Thru 06/22))
- Terry Pentimonti (Director)
Official website here: www.soundcu.com
Where can I find the form 990 for Sound Credit Union?
The Sound Credit Union’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.soundcu.com
Learn more at the official website: www.soundcu.com
Mission Statement of Sound Credit Union
Sound Credit Union, a member-owned cooperative, is dedicated to providing financial services to its members. The organization offers loans and share deposits as part of its comprehensive range of financial offerings. With over $1.96 billion in combined balances held across savings, checking, and money market deposit accounts, Sound Credit Union's members have a significant stake in the cooperative's operations. In addition, members hold approximately $23.2 million in IRA savings accounts. These funds are pooled together and primarily used to finance consumer and real estate secured loans to the Union's membership base. By fostering a strong financial foundation, Sound Credit Union empowers its members to build a stable financial future.
Impact
This information is meant to be a general summary of Sound Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Sound Credit Union's impact lies in its role as a cooperative providing essential financial services to its members. With over 287,000 savings, checking, and money market deposit accounts totaling nearly $2 billion, and more than 2,100 IRA savings accounts holding over $23 million, Sound Credit Union plays a significant role in supporting the financial well-being of its members. By pooling these funds, the credit union can offer consumer and real estate secured loans, which directly benefit its membership. Sound Credit Union's member-owned cooperative model ensures that its services are aligned with the needs and interests of the community it serves.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$79,849,464
INTERCHANGE
Revenue
$13,388,013
FEES AND CHARGES
Revenue
$11,462,047
LOAN ORIGINATION INCOM
Revenue
$2,854,351
FINANCIAL SERVICES
Revenue
$781,264
Organization Details
Founding Year
1940
Phone
(253) 597-7603
Principal Officer
Donald Clark Jr
Main Address
PO BOX 1595, TACOMA, WA, 98401
Website
www.soundcu.com
NTEE Category
Code: W60 - Public benefit
If you are a representative of Sound Credit Union and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.