Salal Credit Union
Salal Credit Union is headquartered in Seattle and is the 23rd largest credit union in the state of Washington. It is also the 586th largest credit union in the nation. It was established in 1948 and as of December of 2013, it had grown to 116 employees and 33,650 members. Salal Credit Union has a A health rating.
Field of Membership Restrictions
Anyone who lives or works in Washington State. - See Details
Related Posts
Data for Q4 2013
Institution Health
Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Salal Credit Union had $1.51 million in non-current loans and owned real-estate with $36.28 million in equity and loan loss allowances on hand to cover it. This gives Salal Credit Union a Texas Ratio of 4.15% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Salal Credit Union experienced no significant changes from 3.58% as of December 31, 2012 to 4.15% as of December 31, 2013, resulting in a negative change of 15.95%. This indicates that the balance sheet and financial strength for Salal Credit Union has had no significant changes in recent periods.
Deposit Growth
In the past year, Salal Credit Union has increased its total deposits by $5.37 million, resulting in 1.73% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Salal Credit Union has shown is above average.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Salal Credit Union has $364.01 million in assets with $36.28 million in equity, resulting in a capitalization level of 9.97%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 66349 |
| Year Chartered | 1948 |
| Employees | 116 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $364.01 million |
| Loans | $258.21 million |
| Deposits | $316.26 million |
| Equity Capital | $32.34 million |
| Loan Loss Allowance | $3.94 million |
| Unbacked Noncurrent Loans | $1.25 million |
| Real Estate Owned | $257,000 |
| Historic Data - December 2012 | |
|---|---|
| Assets | $356.86 million |
| Equity Capital | $33.91 million |
| Loan Loss Allowance | $3.72 million |
| Unbacked Noncurrent Loans | $1.25 million |
| Real Estate Owned | $11,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 4.68% |
| Return on Assets | 0.12% |
| Return on Equity | 1.35% |
| Interest Income | $14.09 million |
Always verify rates and promotions with the bank or credit union. We are not Salal Credit Union, we are a rate comparison website and can not provide official rates or promotions.
Salal Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100k | - | Analyzed Account | |
| 0.15% | $100k | - | Primary Savings | |
| 0.15% | $100k | - | Extra Savings | |
| 0.15% | $100k | - | My Savings | |
| 0.15% | $100k | - | IRA Savings | |
| 0.15% | $100k | - | Youth Savings | |
| 0.15% | $100k | - | Roth IRA Savings | |
| 0.15% | $100k | - | CESA Savings | |
| 0.15% | $50k | - | Business Savings (non-profits only) |
Salal Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.15% | $50k | - | Premium Plus Money Market | |
| 0.15% | $50k | - | Business Money Market |
Salal Credit Union Checking Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.20% | $100k | - | Essential Business Cash Management | |
| 0.20% | $100k | - | Business Interest Checking | |
| 0.08% | $25k | - | Salal Silver Horizons | |
| 0.05% | $10k | - | Basic Business Checking |
Salal Credit Union CD Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.40% | $25k | $100k | 48 Month Share Certificate | |
| 1.40% | $100k | - | 48 Month Jumbo Share Certificate | |
| 0.90% | $25k | $100k | 36 Month Share Certificate | |
| 0.90% | $100k | - | 36 Month Jumbo Share Certificate | |
| 0.65% | $25k | $100k | 30 Month Share Certificate | |
| 0.65% | $100k | - | 30 Month Jumbo Share Certificate | |
| 0.55% | $50k | $100k | 18 Month Share Certificate | |
| 0.55% | $10k | $100k | 24 Month Share Certificate | |
| 0.55% | $100k | - | 18 Month Jumbo Share Certificate | |
| 0.55% | $100k | - | 24 Month Jumbo Share Certificate | |
| 0.35% | $100k | - | 24 Month Jumbo Youth Certificate | |
| 0.32% | $50k | $100k | 24 Month Youth Certificate | |
| 0.30% | $100k | - | 12 Month Jumbo Share Certificate | |
| 0.25% | $50k | $100k | 12 Month Share Certificate | |
| 0.25% | $100k | - | Business 6-18 Month Choice CD | |
| 0.20% | $100k | - | 6 Month Jumbo Share Certificate | |
| 0.20% | $100k | - | 9 Month Jumbo Share Certificate | |
| 0.20% | $100k | - | 6 Month Jumbo Choice Certificate | |
| 0.15% | $50k | $100k | 6 Month Choice Certificate | |
| 0.15% | $50k | $100k | 6 Month Share Certificate | |
| 0.15% | $50k | $100k | 9 Month Share Certificate |
Salal Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.40% | $25k | $100k | 48 Month IRA Certificate (Traditional,Roth,CESA) | |
| 1.40% | $100k | - | 48 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.90% | $25k | $100k | 36 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.90% | $100k | - | 36 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.65% | $10k | $100k | 30 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.65% | $100k | - | 30 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.55% | $25k | $100k | 18 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.55% | $10k | $100k | 24 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.55% | $100k | - | 18 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.55% | $100k | - | 24 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.30% | $100k | - | 12 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.25% | $50k | $100k | 12 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.20% | $100k | - | 6 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.20% | $100k | - | 9 Month Jumbo IRA Certificate (Traditional,Roth,CESA) | |
| 0.15% | $50k | $100k | 6 Month IRA Certificate (Traditional,Roth,CESA) | |
| 0.15% | $50k | $100k | 9 Month IRA Certificate (Traditional,Roth,CESA) |
| Salal Credit Union Locations | ||
|---|---|---|
| Branch Office | 310 Westlake Ave N | Seattle, WA 98109 |
| Branch Office | 690 Strander Blvd | Tukwila, WA 98188 |
| Branch Office | 11023 8th Ave NE | Seattle, WA 98125 |
| Branch Office | 115 15th Ave E | Seattle, WA 98112 |
| Branch Office | 1048 116th Ave NE | Bellevue, WA 98004-4640 |