Sound Credit Union primarily serves the Puget Sound area in Washington. They are known for their low cost banking and fair rates, but they also offer business banking and credit.
Credit unions tend to stand out from big banks in many ways. While giving back to the communities they serve, they usually offer better rates on loans and lines of credit. Sometimes, credit unions offer better business credit options for members.
Let’s take a closer look at Sound Credit Union’s business products and services, so you can see if this is the institution for you. Here, we’ll explore their business banking, credit cards, loans, and more.
This is what’s in store:
- What is Sound Credit Union?
- Business Financial Products and Services
- Sound Credit Union Customer Service
- Sound Credit Union Community Involvement
- Frequently Asked Questions
- Conclusion
Now, let’s get started!
What is Sound Credit Union?
Sound Credit Union is a financial institution with a strong emphasis on trust, collaboration, and shared success. Established in 1940, it has a long history of providing accessible and affordable financial services to individuals and businesses in Washington state.
Over the years, Sound Credit Union has maintained its commitment to helping its members achieve financial well-being, continuously expanding its services to meet their evolving needs.
A key aspect of Sound Credit Union’s mission is its dedication to supporting small businesses.
It offers a variety of services tailored specifically for business owners, like:
- Business checking and savings accounts
- Business credit cards
- Specialized cannabis business accounts
- Small business loans
- Commercial real estate loans
- Business auto loans
- Treasury services
The credit union further supports business growth by offering educational resources on topics like developing new business models, scaling operations, and implementing contactless payments.
Joining Sound Credit Union is a simple process that involves opening an account online in just a few minutes, with no minimum deposit required.
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Locations Served
Sound Credit Union primarily serves four counties in Washington state:
- King
- Pierce
- Snohomish
- Thurston
In King County, you can find branches in cities like Auburn, Bellevue, Burien, Federal Way, Kent, Redmond, Shoreline, Tukwila, and West Seattle. Pierce County locations include Bonney Lake, Tacoma, Gig Harbor, Graham, Lakebay, Lakewood, and Puyallup. In Snohomish County, branches are located in Lynnwood, Bothell, Edmonds, Everett, and Mukilteo. Thurston County is served by a branch in Olympia.
And, Sound Credit Union offers online services that ensure broader accessibility for businesses nationwide—This includes online banking, mobile banking, and remote deposit capture, which enables you to manage your finances easily from anywhere in the country.
Membership and Eligibility
To become a business member of Sound Credit Union, you need to meet a few simple eligibility requirements.
- If you live, work, or attend school in Washington state, or if you are directly related to someone who does, you qualify for membership.
- Additionally, if you work for one of Sound’s Select Employer Groups (SEGs), you are also eligible to join.
To join Sound Credit Union as a business member:
- Gather your identity docs – Have your Social Security Number, a government-issued ID (like a driver’s license, passport, state, or military ID), and a valid email address ready. These are necessary for identity verification and to comply with government regulations.
- Start the online application – Start the application process online with basic information such as your name, home address, date of birth, and contact details. You will also need to select your employment status and provide any additional required details.
- Add a co-applicant or beneficiary (optional) – If desired, you can add a co-applicant or beneficiaries during the application process. You will need their name, Social Security Number, and date of birth.
- Wait for the final decision – After submitting your application, Sound Credit Union will review it. Upon approval, you will become a member and gain access to the credit union’s products and services.
- Fund your account – While there is no minimum deposit required, you can choose to fund your new account using a credit card, debit card, checking account, or savings account.
Once you’re a member, you can open any business account with Sound Credit Union.
You’ll need to verify your business with the usual documents:
- Articles of Organization
- Employer Identification Number (EIN)
- Verification of ownership
Contact the credit union or visit a branch to open a business account.
Business Financial Products and Services
From their banking to their robust loans, lines of credit, and business services, here’s what Sound Credit Union can offer in the way of small business financial products.
1. Business Banking/Checking
Sound Credit Union offers a variety of business checking accounts designed to cater to different business needs:
- The Business Free Checking account requires no minimum balance and incurs no monthly fees, which provides essential banking services without additional costs.
- The Business Checking account offers 300 free check deposits and withdrawals per month, with a $5K minimum balance to waive the monthly fee—It also includes free debit cards for employees and access to mobile check deposit.
- The Business Interest Checking requires a $10K minimum balance to avoid fees and offers 200 free check transactions monthly.
- The Analysis Checking account uses an earnings credit to offset fees, which makes it suitable for those with substantial banking activity.
Here’s a wider look at their business checking offer.
| Minimum Bal | Monthly Fee | Free Check Transactions | More Benefits | |
| Business Free Checking | $0 | $0 | 100/month ($0.20/item after) | No fees or minimums, basic essentials |
| Business Checking | $5K or Cash Management | $0 if above $5K, otherwise $10 | 300/month ($0.20/item after) | Free employee debit cards, mobile check deposit |
| Business Interest Checking | $10K | $0 if above $10K, otherwise $10 | 200/month ($0.15/item after) | Interest earnings on balance |
| Analysis Checking | Analyzed* | Analyzed* | Analyzed* | Uses earnings credit to offset fees, suitable for large balances |
Each account type also benefits from Sound Credit Union’s commitment to security, with features like:
- EMV chip debit cards
- Email and text alerts
- Card lock/unlock options in the Sound Mobile app.
Moreover, businesses can leverage nationwide access to over 30K surcharge-free ATMs, enhancing convenience for cash management needs.
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2. Business Credit Cards
Sound Credit Union offers several business credit cards tailored to different business needs:
- The Business Rewards Credit Card is great if you want to earn rewards on every purchase, like Sound Rewards points and travel perks—It also includes features such as auto rental collision coverage and travel assistance, making it handy for business trips.
- The Business Platinum Credit Card offers competitive APRs and benefits like purchase security.
- The Business Platinum Secured Credit Card is available for businesses looking to build credit with a secured option.
Sound Credit Union’s rewards program notably is robust—With every purchase made using the Business Rewards Credit Card or Business Debit Card, you earn points that can be redeemed for:
- Travel
- Merchandise
- Gift cards
- Cash back
- Charitable donations
Plus, new cardholders can kickstart their rewards journey with a generous 10K bonus points upon opening a Rewards credit card account, making it even easier to start enjoying the perks.
All of the business credit cards skip annual fees, balance transfer fees, and foreign transaction fees, keeping things straightforward for managing business expenses. And, they come with EMV chip security and real-time alerts to keep your business transactions safe and secure.
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3. Business Loans
Sound Credit Union offers a variety of business loan options designed to meet diverse needs and support your business growth.
Get flexible financial solutions, whether you’re looking to:
- Purchase commercial real estate
- Acquire equipment or an automobile
- Maintain cash flow with a line of credit
With competitive rates and terms available on both owner and non-owner occupied properties, including SBA loan options for qualifying businesses, you can benefit from lower down payments and longer repayment terms backed by the U.S. government.
Sound’s commitment to personal service means you’ll receive support from application through funding and beyond.
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4. Business Savings & Investment Opportunities
Sound Credit Union offers competitive rates across its business savings and investment products to help you maximize financial returns:
- High-Yield Business Savings Account – Earn a competitive interest rate on balances. Rates are tiered, typically offering higher rates for larger balances. No monthly fees or minimum balance requirements. Interest is compounded and credited monthly, optimizing your savings potential.
- Business Money Market Account – Enjoy competitive tiered rates that increase with higher balances. Benefit from liquidity with no penalties for withdrawals or transfers. No monthly fee when maintaining the minimum balance requirement.
- Business Certificates – Rates for Business Certificates vary based on the term and type chosen (Basic, Bump, Flex, Jumbo). Generally, longer-term certificates and jumbo certificates (balances of $100K or more) offer higher dividend rates. Interest is compounded monthly. Certificates allow for additional deposits (varies by type) and rollover options.
These rates are subject to change, so it’s recommended to check with Sound Credit Union for the most current rates and terms applicable to your business savings and investment needs.
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5. Banking Services
As you probably expect, Sound Credit Union offers a robust suite of treasury services:
- Merchant services
- Payroll services
- Quickbooks® integration
- Tax payments
With a focus on convenience and efficiency, their offerings include merchant services through Total Merchant Concepts (TMC), providing solutions for card payments with options like POS systems and mobile processing.
You can also benefit from comprehensive payroll services via Paychex®, which offers payroll processing, tax management, and HR services with 24/7 support.
Integration with QuickBooks® allows seamless access to real-time financial data, while the Electronic Federal Tax Payment System (EFTPS) simplifies tax payments by enabling scheduling up to 120 days in advance.
These services are designed to streamline operations, enhance financial management, and support growth, backed by local expertise and competitive pricing from Sound Credit Union.
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6. Mobile App
The Sound Credit Union mobile app is available on iOS and Google Play.
With the app, you can manage your finances from your mobile device by:
- Checking balances
- Making transfers
- Paying bills
- Sending money to others
- Depositing checks
- Setting security alerts
- Managing your cards
- Finding branch locations and co-op network ATMs
Recent updates have improved the login process for biometric users, enhanced visibility for closed accounts, and included various bug fixes to enhance user experience—Despite occasional issues reported by users, such as challenges with check deposit photo alignment and some usability concerns, the overall feedback is positive with 4.4 stars on Android and 4.7 stars on Apple devices.
Overall, the Sound Credit Union mobile app is a valuable tool to manage your finances conveniently and securely on the go.
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Sound Credit Union Customer Service
Sound Credit Union prides itself on high-quality customer service. The institution offers multiple support channels to ensure you can get the assistance you need.
Business members can access phone support through the Sound Contact Center from Monday to Friday, 8:00 am to 6:00 pm, and on Saturdays from 9:00 am to 1:00 pm by calling 253-383-2016 or 800-562-8130.
For general inquiries, live chat support is available during the same hours (you can get quick responses in real-time).
Additionally, you can send your questions via email using a secure form on the Sound Credit Union website—this helps make sure your sensitive information like account numbers and Social Security Numbers remain protected.
If your card is lost or stolen, immediate assistance is available by calling 844-332-4899. For those who prefer written communication, Sound Credit Union can be contacted by mail at PO Box 1595, Tacoma, WA 98401-1595, or by fax at 253.383.2079.
For face-to-face interactions, a comprehensive list of branches and ATMs with their hours of operation is available, making it easy to find and visit a local branch.
The credit union’s website also features a robust Support section, offering 24-hour access to answers for common questions and detailed instructions for various services. You have continuous access to important information and resources.
Sound Credit Union Community Involvement
Sound Credit Union is deeply involved in the community, showing strong social responsibility and local support. For instance, they’re running the Auto Loan Payoff Sweepstakes from May 1 to December 31, 2024. If you open or refinance an auto loan during this time, you’ll be entered into a drawing to have your loan paid off, up to $40K. It’s their way of saying thanks and helping you financially.
They also support Washington Women in Need (WWIN). In a recent auction, Sound employees and business partners raised over $25K to help women in Washington get scholarships and career resources. This shows their commitment to empowering women and reducing student loan debt.
Sound Credit Union promotes financial tech innovation through a partnership with the University of Washington Tacoma. They host the FinTech Incubator Challenge, encouraging new financial tools. The 2023 winner, Prasanth Chaitanya Gupta Arisetty, created an app called Spendalyze, which tracks and analyzes transactions. He received $10K and a membership to CoMotion Labs in Seattle.
They also host community events like the Annual Shred Day. This event helps you safely dispose of sensitive documents and supports local food banks with canned food donations.
Through these initiatives, Sound Credit Union shows its dedication to social responsibility, community support, and helping members like you achieve financial security and success.
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Frequently Asked Questions
What time does Sound Credit Union open?
Sound Credit Union opens at 8:00 am from Monday to Friday. On Saturdays, it opens at 9:00 am.
What time does Sound Credit Union close?
Sound Credit Union closes at 6:00 pm from Monday to Friday. On Saturdays, it closes at 1:00 pm.
How secure is Sound Credit Union?
Sound Credit Union is highly secure. It employs robust security measures, including encryption, fraud monitoring, and secure login protocols to protect members’ personal and financial information. Additionally, it is federally insured by the National Credit Union Administration (NCUA), providing an extra layer of financial security.
Does Sound Credit Union accept Zelle?
Yes, Sound Credit Union accepts Zelle, allowing members to send and receive money quickly and securely using the Zelle service through their Sound Credit Union account.
Conclusion
Sound Credit Union provides business checking accounts with no monthly fees and robust transaction allowances. Their commitment to community involvement, like the Auto Loan Payoff Sweepstakes and support for Washington Women in Need, shows their dedication beyond financial services.
With personalized service and local support, Sound Credit Union stands out for businesses seeking efficient financial solutions and responsive customer care. Leveraging their digital banking tools and treasury services can streamline operations and support long-term growth effectively.
If you prioritize competitive rates and community involvement, Sound Credit Union provides a solid option for businesses in the Puget Sound region. However, if you require extensive branch access outside Washington or specialized banking services like international transactions, exploring other institutions may better suit your needs.
Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!