TACOMA, Wash. — Thirty-five years is enough for Richard Brandsma, who will retire from his position as CEO of $ 1.3 billion Sound Credit Union this week.
Don L. Clark Jr., who has been serving as Sound CU's president for the past year, was named by the board of directors to succeed Brandsma, effective April 1.
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 the state of Washington, with more 110,000 members.
"Richard Brandsma has had an extraordinary career," Clark said in a statement. "During his 35 years, he has 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. The positive impact he has made at Sound and throughout the credit union industry is undeniable."
"Don is extremely well prepared to guide the continuous growth of Sound Credit Union," said Brandsma. "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 for Sound Credit Union prior to accepting the role as president in 2015. Prior to coming to Sound, he held positions on the executive teams at Mountain America Credit Union and Power Financial Credit Union, and served as the chief financial officer at Sound Credit Union in the late 1990s. In addition, he served as the senior vice president of Southwest Business Corporation.
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 has served on a number of boards, including the Washington Credit Union League, Puget Sound CUES Council, Pierce College's Financial Institution Management Curriculum Advisory Committee, the State Division of the Savings & Loan Advisory Committee, and WesCorp Board of Directors, and is currently a member of the Washington State Department of Financial Institutions, Division of Credit Unions, Regulatory Outreach Task Force.
Outside of the financial industry, Brandsma has served on the boards for the University of Washington's Tacoma Milgard School of Business Advisory Board and Tacoma Local Development Council Business Improvement Area, as well as the boards for the Tacoma-Pierce County Chamber of Commerce, League Service Incorporated, BALLETACOMA, Downtown Tacoma Association, Tacoma-Pierce County Corporate Arts Council, and Tacoma Sunrise Rotary.
Sound is the seventh-largest credit union in Washington state with $1.3 billion in assets and 24 branches throughout the Puget Sound area, from Lynnwood to Tumwater.
