This noise you hear indicates the proper operation of the check valve. When the pump shuts off, the weight of the water on top of the valve closes the valve against its base. These components are usually rubber in which you should hear a dull thudd, however, if the rubber is hardened, the rubber parts on the valve are worn, or it is just a cheap check valve, the noise may be exaggerated. Just take out the check valve and swap it out with a new one from Sears or HD. See if the noise is reduced. One additional option would be to wrap the PVC with foam to help further deaden the noise.