TACOMA, Wash.–Two credit unions in two different parts of the country have announced the completion of their acquisitions of banks.

In Tacoma, Wash., the $3.1-billion Sound Credit Union said it has completed the system conversion of Washington Business Bank in Olympia, Wash. The credit union announced plans to buy the bank in March of 2024. 

With the addition of the bank’s downtown Olympia location, Sound CU reported it has expanded its branch footprint to 26 full-service locations.

“Our team members have worked diligently to complete the acquisition,” SCU President and CEO Don Clark said in a statement. “We are thrilled to welcome former WBB clients as new Sound members and look forward earning their trust as their financial partner. Whether from a personal or business perspective, our team members are committed to helping our members achieve their financial goals and dreams. Sound will continue to stand with our members, employees and communities through all waves of life.”

Sound CU said it will host a community ribbon cutting event at its downtown Olympia branch, formerly the WBB branch, on July 24 at 5:30pm. The event is open to the public and will include light refreshments, swag, and more for attendees, said Sound CU, which has more than 172,000 members. 

Y-12 Completes Acquisition of Bank

Separately, in Tennessee, Y-12 Federal Credit Union reported it has completed its acquisition of First State Bank of the Southeast.

The acquisition marks the expansion of Y-12’s service footprint beyond Tennessee and into neighboring Southeast Kentucky. 

With the acquisition now complete, FSB’s eight branch locations are officially part of the Y-12 Credit Union branch network, the credit union said.

“For now, these branches will continue normal operations as FSB, a Division of Y-12 Credit Union,” Y-12 said in a statement. “This name and branding will remain in place until full system integration is completed sometime in 2026. 

“This is an exciting and transformative moment for our organization,” President and CEO Dustin Millaway said in a statement. “The completion of this acquisition allows us to bring our Credit Union membership benefits to thousands of new individuals and businesses throughout Southeast Kentucky and Northeast Tennessee. We’re honored to continue FSB’s long-standing community legacy while introducing expanded services and digital tools that create even more financial opportunity.”