Sound Community Bank

Sound Community Bank is a financial institution that has undergone several significant changes since its establishment. Originally founded as A.g.e. Federal Credit Union in 1979, it was not insured by the Federal Deposit Insurance Corporation (FDIC) at that time. The institution's name changed to Credit Union of the Pacific Federal Credit Union on February 5, 1992, and subsequently to Credit Union of the Pacific on June 3, 1996, along with a change in its chartering agency to the state level. On May 19, 2003, it rebranded as Sound Community Bank, transitioned to a federal savings bank and mutual savings bank, and became FDIC insured. The bank's primary federal regulatory agency changed to the Office of Thrift Supervision (OTS) on the same date. Over the years, Sound Community Bank has moved its main office several times within Seattle, Washington, with its locations including 430 Virginia Street in 2003, 2001 Fifth Avenue in 2007, and most recently to 2400 Third Avenue on February 12, 2019. Notably, on December 28, 2012, the bank altered its regulatory framework by changing its primary federal regulatory agency to the FDIC, its organization type to commercial bank, and its bank class to state-chartered, not a member of the Federal Reserve System.

Below is a list of some important events in bank's history, including mergers and acquisitions.

02-12-2019Main Office moved to 2400 Third Avenue, Seattle, WA 98121.

12-28-2012Changed Primary Federal Regulatory Agency to FDIC.

12-28-2012Changed Organization Type to Commercial Bank.

12-28-2012Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

12-28-2012Changed Chartering Agency to State.