Salal Credit Union is headquartered in Seattle and is the 22nd largest credit union in the state of Washington. It is also the 589th largest credit union in the nation. It was established in 1948 and as of September of 2013, it had grown to 116 employees and 33,450 members. Salal Credit Union has a A health rating.
Field of Membership Restrictions
Salal Credit Union membership is open to anyone who lives or works in Washington State. Check and see if your employer offers Salal membership or if someone in your family is already a member—that makes you eligible for membership too. - See Details
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Data for Q3 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 September 30, 2013 Salal Credit Union had $1.28 million in non-current loans and owned real-estate with $35.94 million in equity and loan loss allowances on hand to cover it. This gives Salal Credit Union a Texas Ratio of 3.56% 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 held steady from 3.73% as of September 30, 2012 to 3.56% as of September 30, 2013, resulting in a positive change of 4.43%.This indicates that the balance sheet and financial strength for Salal Credit Union has held steady in recent periods.
Deposit Growth
In the past year, Salal Credit Union has increased its total deposits by $7.53 million, resulting in 2.48% 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 $359.95 million in assets with $35.94 million in equity, resulting in a capitalization level of 9.99%, which is above average.
Institution Statistics
| Overall | |
|---|---|
| NCUA # | 66349 |
| Year Chartered | 1948 |
| Employees | 116 |
| Primary Regulator |
| Assets and Liabilities | |
|---|---|
| Assets | $359.95 million |
| Loans | $245.01 million |
| Deposits | $311.41 million |
| Equity Capital | $32.23 million |
| Loan Loss Allowance | $3.71 million |
| Unbacked Noncurrent Loans | $1.28 million |
| Real Estate Owned | $0 |
| Historic Data - September 2012 | |
|---|---|
| Assets | $355.74 million |
| Equity Capital | $33.40 million |
| Loan Loss Allowance | $3.74 million |
| Unbacked Noncurrent Loans | $1.28 million |
| Real Estate Owned | $223,000 |
| Profit Margin - Quarterly | |
|---|---|
| Net Interest Margin | 3.63% |
| Return on Assets | 0.13% |
| Return on Equity | 1.42% |
| Interest Income | $10.36 million |
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Salal Credit Union Savings Account Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.35% | $100k | - | Choice Certificate | |
| 0.35% | $100k | - | Youth Certificate | |
| 0.30% | $250k | - | Business Savings (non-profits only) | |
| 0.25% | $100k | - | Analyzed Account | |
| 0.22% | $100k | - | IRA Savings | |
| 0.22% | $100k | - | Roth IRA Savings | |
| 0.22% | $100k | - | CESA Savings | |
| 0.20% | $100k | - | Primary Savings | |
| 0.20% | $100k | - | Extra Savings | |
| 0.15% | $100k | - | My Savings | |
| 0.15% | $100k | - | Youth Savings |
Salal Credit Union Money Market Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 0.25% | $100k | - | Business Money Market | |
| 0.20% | $100k | - | Premium Plus 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 |
|---|---|---|---|---|
| 1.25% | $25k | - | 48 Month CD | |
| 0.90% | $25k | - | 36 Month CD | |
| 0.65% | $25k | - | 30 Month CD | |
| 0.55% | $50k | - | 18 Month CD | |
| 0.55% | $10k | - | 24 Month CD | |
| 0.50% | $250k | - | Business Choice Term 6-18 Months | |
| 0.45% | $100k | - | 12 Month CD | |
| 0.40% | $100k | - | 6 Month CD | |
| 0.40% | $100k | - | 9 Month CD |
Salal Credit Union IRA Rates
| Details | APY | MIN | MAX | PRODUCT |
|---|---|---|---|---|
| 1.25% | $25k | - | 48 Month IRA | |
| 1.25% | $25k | - | 48 Month Roth IRA | |
| 1.25% | $25k | - | 48 Month CESA | |
| 0.90% | $25k | - | 36 Month IRA | |
| 0.90% | $25k | - | 36 Month Roth IRA | |
| 0.90% | $25k | - | 36 Month CESA | |
| 0.65% | $10k | - | 30 Month IRA | |
| 0.65% | $10k | - | 30 Month Roth IRA | |
| 0.65% | $10k | - | 30 Month CESA | |
| 0.55% | $25k | - | 18 Month IRA | |
| 0.55% | $10k | - | 24 Month IRA | |
| 0.55% | $25k | - | 18 Month Roth IRA | |
| 0.55% | $10k | - | 24 Month Roth IRA | |
| 0.55% | $25k | - | 18 Month CESA | |
| 0.55% | $10k | - | 24 Month CESA | |
| 0.48% | $100k | - | 9 Month IRA | |
| 0.48% | $100k | - | 12 Month IRA | |
| 0.48% | $100k | - | 9 Month Roth IRA | |
| 0.48% | $100k | - | 12 Month Roth IRA | |
| 0.48% | $100k | - | 9 Month CESA | |
| 0.48% | $100k | - | 12 Month CESA | |
| 0.45% | $100k | - | 6 Month IRA | |
| 0.45% | $100k | - | 6 Month Roth IRA | |
| 0.45% | $100k | - | 6 Month 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 | 1515 Dexter Ave N | Seattle, WA 98109-3017 |
| Branch Office | 1048 116th Ave NE | Bellevue, WA 98004-4640 |