Don Clark, president/CEO of the Tacoma, Wash.-based Sound Credit Union, joined CU Times' Editor-in-Chief Michael Ogden for an exclusive CU Times PRO webcast to discuss Sound’s recent acquisition of Washington Business Bank and the future of credit union-bank deals.
Clark explained that Sound’s decision to acquire the Olympia-based bank aligned with its long-term growth strategy and its desire to expand its footprint in Thurston County. He noted that one of the biggest challenges was navigating the due diligence and regulatory approval process, which required careful planning and communication.
Cultural integration was a major focus for Clark and his team, ensuring that former bank employees and customers felt welcomed into Sound’s member-first environment. How did he accomplish this? With the help of a "Joint Merger Team", Clark explains how crucial this group has been to the success of the entire process.
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Clark emphasized that Washington Business Bank clients now benefit from expanded access to Sound’s broader suite of personal and business financial products. The acquisition helped propel Sound past the $3 billion asset mark, a milestone Clark said positions the credit union for greater scalability and future growth.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
