A merger of two Seattle-area credit unions, Watermark and Sound,to form the state’s fourth largest with $1.1 billion in assets, isnow effective, it was announced Tuesday.
The consolidation, first announced last March, is due to be finalized withcomputer conversion of member accounts by the spring of 2012. Thenew entity retains the Sound name.
Serving as president/CEO of the combined CU is Richard C.Brandsma, president/CEO of Tacoma-based Sound. The creditunions each had around $550 million in assets and a combined118,000 members.
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