{"id":6797,"date":"2023-03-17T03:40:00","date_gmt":"2023-03-17T10:40:00","guid":{"rendered":"https:\/\/www.soundcu.com\/?p=6797"},"modified":"2025-05-27T14:47:11","modified_gmt":"2025-05-27T21:47:11","slug":"financially-strong-at-sound","status":"publish","type":"post","link":"https:\/\/www.soundcu.com\/blog\/financially-strong-at-sound\/","title":{"rendered":"Financially Strong at Sound"},"content":{"rendered":"<div class=\"co-flex_row co-flex_row__blue co-flex_row__last co-flex_row__long-form-text\" >\n\t<div class=\"co-flex_row--row co-row\">\n\t\t\t<div class=\"co-long_form\">\n\t\t\t\t\t<div class=\"co-long_form--block co-long_form--block__nomedia prow items-start \">\n\t\t\t\t<div class=\"co-long_form--text pcol-md:12\">\n\t\t\t\t\t<div class=\"co-long_form--content\"><p><a href=\"https:\/\/www.soundcu.com\/files\/DClark-web.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3645 alignleft\" src=\"https:\/\/www.soundcu.com\/files\/DClark-web.jpg\" alt=\"Don Clark, Jr. President\/CEO, Sound Credit Union\" width=\"160\" height=\"200\" \/><\/a><\/p>\n<p>I imagine many of you have followed the recent news about the banking industry and have growing concerns about the stability of the economy. I want to reassure you that <a href=\"https:\/\/www.soundcu.com\/\">Sound Credit Union<\/a> remains financially strong.<\/p>\n<p>As a credit union, we are regulated by the <a href=\"https:\/\/ncua.gov\/newsroom\/press-release\/2023\/statement-ncua-chairman-todd-m-harper\" rel=\"noopener\">National Credit Union Administration<\/a> (NCUA) and the <a href=\"https:\/\/dfi.wa.gov\/\" rel=\"noopener\">Washington State Department of Financial Institutions<\/a> (WA DFI). On an annual basis these regulators conduct a safety and soundness audit to ensure we are compliant with all regulations. In addition, Sound adheres to NCUA risk-based capital requirements. This means we\u2019re very limited to what types of assets we can invest in. Sound takes appropriate measures to ensure our investment portfolio is comprised of investments and securities with a low degree of default risk and price risk due to changes in interest rates.<\/p>\n<p>As a member of Sound, your funds are secure. The <a href=\"https:\/\/ncua.gov\/files\/publications\/guides-manuals\/NCUAHowYourAcctInsured.pdf\" rel=\"noopener\">National Credit Union Share Insurance Fund<\/a> (NCUSIF) insures your account to at least $250,000. The NCUSIF has the backing of the full faith and credit of the federal government. It is important to know that credit union members have <a href=\"https:\/\/ncua.gov\/newsroom\/press-release\/2023\/statement-ncua-chairman-todd-m-harper\" rel=\"noopener\">never lost a penny of savings at a federally insured credit union<\/a>.<\/p>\n<p>On behalf of our team at Sound, we are here for you. If you have more questions about your deposits or you\u2019re experiencing a financial hardship, please don\u2019t hesitate to contact us. We are here to help provide solutions through all waves of life.<\/p>\n<p>Sincerely,<\/p>\n<p>Don Clark, Jr.<br \/>\nPresident\/CEO<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As a member of Sound, your funds are secure. The National Credit Union Share Insurance Fund (NCUSIF) insures your account to at least $250,000. The NCUSIF has the backing of the full faith and credit of the federal government. It is important to know that credit union members have never lost a penny of savings at a federally insured credit union. <a href=\"https:\/\/www.soundcu.com\/blog\/financially-strong-at-sound\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":6602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_searchwp_excluded":"","footnotes":""},"categories":[51],"tags":[],"class_list":["post-6797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sound-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/6797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/comments?post=6797"}],"version-history":[{"count":1,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/6797\/revisions"}],"predecessor-version":[{"id":15438,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/posts\/6797\/revisions\/15438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media\/6602"}],"wp:attachment":[{"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/media?parent=6797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/categories?post=6797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.soundcu.com\/wp-json\/wp\/v2\/tags?post=6797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}