Sound Community Bank :: About Us

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America's Community Bankers Urges Congress to Pass Credit Union Charter Choice Bill

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Laurie Stewart, President/CEO
1.800.458.5585

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History of Sound Community Bank

Sound Community Bank Timeline

1952 -Ed Johnson, Accounting and Payroll for Associated Grocers realizes the need for a credit union for the employees of Associated Grocers and a charter is submitted for it's creation.
1953 -Doors open for the Associated Grocers Credit Union (AGEFCU). Ed Johnson, in Accounting and Payroll also handles the responsibilities of AGEFCU.
1968 -Ed Johnson earns a promotion and becomes manager of AGEFCU.
1986 - AGEFCU expands membership base to other employee groups.
1989 -CEO and founder of AGEFCU, Ed Johnson retires.
1989 -Laurie Stewart becomes CEO of AGEFCU.
1989 -Board of Directors and Senior Management appeal to become a state chartered credit union, rather than a federal charter. This sets in motion the ability to charter communities into the credit union, rather than solely employee groups.
1991 -Representing more than 450 small businesses, Associated Grocers Employees Federal Credit Union no longer supplies financial services solely to AG Employees; AGEFCU must adjust their name to represent all account holders, for that reason it became Credit Union of the Pacific.
1991 -Seattle landmark department store, Fredrick and Nelson goes out of business and the Fredrick and Nelson Credit Union merges with Credit Union of the Pacific.
1992 -Downtown, Lynnwood and Lakewood Branches open.
1997 - Sequim Branch opens.
2002 -A charter is submitted to convert Credit Union of the Pacific into a Mutual Savings Bank to be regulated by the Office of Thrift Supervision.
2003 -Credit Union of the Pacific becomes Sound Community Bank.
2003 -Lynnwood Branch relocates to Cedar Plaza in Mountlake Terrace.