TACOMA, Wash. — The final step of the merger of $4.9 million Darigold Federal Credit Union into $1.1 billion Sound Credit Union was completed Nov. 1, as all DFCU member accounts and services were integrated into Sound CU's systems.

"The integration of accounts marked the final step of this process that combined the strengths of both credit unions," Rick Brandsma, Sound's president and CEO, said in a statement. "We look forward to serving the members of Darigold Federal Credit Union."

The merger process began in early 2014 with the board of directors from each credit union unanimously approving a merger agreement between the two organizations. The next steps included approvals from state and federal regulators, followed by approval from the Darigold FCU's members in May.

Darigold FCU, which was based in Shoreline, Wash., just north of Seattle, had $4.9 million in assets and 1,137 members.

Darigold FCU said it lost $114,785 in 2013, including assessments. Its net worth ratio was 18.83% ("well capitalized").

In 2013 Sound CU reported $17.6 million in net income, even after paying $731,242 to the Corporate CU Stabilization Fund. Its net worth ratio was 12.43%, making it well capitalized.

In its most recent call report Sound had more than $11.6 million in net income for the first nine months of 2014. Its net worth ratio as of Sept. 30 was 13.09%, making it well capitalized.

Sound was chartered in 1940. Membership is open to anyone who lives or works in Washington state. It serves more than 100,000 members from its headquarters in downtown Tacoma and 21 branch locations throughout the Puget Sound area from Lynnwood to Olympia.

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