Sound Credit Union announces CEO retirement, replacement from within

Sound Credit Union has announced that CEO Richard Brandsma will retire Thursday after nearly 35 years of leadership in the financial industry.

Sound President Don L. Clark Jr. has been selected by the board of directors to succeed Brandsma, effective Friday, the credit union said in a release Monday.

“Richard Brandsma has had an extraordinary career. During his 35 years, he’s guided the organization through economic cycles, 16 mergers, charter changes, name changes, and has helped create one of the largest and most financially stable credit unions in the state,” Clark said.

“Don is extremely well prepared to guide the continuous growth of Sound Credit Union,” Brandsma stated. “His significant experience in strategic planning and financial analysis within the credit union industry allows him to address the evolving demands of our members as well as the changing regulatory requirements of the financial industry.”

Clark served as an executive vice president at Sound Credit Union before accepting the role as president in 2015. Before coming to Sound, he held positions on the executive teams at several credit unions, and served as the chief financial officer at Sound Credit Union in the late-’90s. Clark holds a master’s degree in business administration from the University of Washington and a bachelor’s degree in accounting from Brigham Young University. He is a certified public accountant.

Brandsma started at Sound Credit Union in 1981, and helped grow the organization from one branch and $18.9 million in assets into the seventh-largest credit union in Washington, with $1.3 billion in assets and over 110,000 members.

This story was originally published March 28, 2016 at 8:35 AM with the headline "Sound Credit Union announces CEO retirement, replacement from within."