Members of Darigold Federal Credit Union, with a 93 percent approval rate, have voted in favor of a proposed merger with Sound Credit Union.
This was the final step in the approval process, and the merger will be effective on November 1. The former credit union will operate as Sound Credit Union, and Richard Brandsma, Sound’s current president & CEO, will lead the organization.
The boards of Darigold Federal and Sound Credit Union unanimously approved a merger agreement earlier this year. The next step included approvals from state and federal regulators, and the final step was approval from the Darigold members, announced Tuesday.
Information concerning the merger will be posted as necessary on Sound’s website at soundcu.com.
“We feel this merger will benefit our members by providing many branch locations, a full line of products and an expanded line of technology and services,” said Paul Cookson, chairman of the Darigold board.
The combined credit union will hold more than $1.1 billion in assets, and serve over 100,000 members with a total of 21 branches located throughout Pierce, Thurston, and King counties.