Dec, 31, 2022 — SALAL CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 4 branch locations and about $1.26 billion in total assets. Opened 75 years ago in 1948, SALAL CREDIT UNION has about 54,933 members and employs 270 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SALAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 9706 4th Ave NE Ste 400 SEATTLE, WA 98115-2199 |
| Phone: | (206) 298-9394 |
| Fax: | (206) 299-6000 |
| Website: | https://www.salalcu.org |
| Branches: | 4 branch locations |
| Members: | 54,933 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 66349 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1948 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,262,110,153 |
| CEO/Manager: | Russell E Rosendal |
| Chairperson: | Brian Luong |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 36,264,585 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 614,972,370 |
| Unsecured Loans | 36,500,370 |
| Other Loans | 351,199,362 |
| TOTAL LOANS | 1,002,672,102 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -11,736,485 |
| Land And Building | 24,245,133 |
| Other Fixed Assets | 6,564,358 |
| NCUSIF Deposit | 5,333,714 |
| All Other Assets | 0 |
| TOTAL ASSETS | 1,262,110,153 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 2,799 |
| Notes & Interest Payable | 185,828,782 |
| Accounts Payable & Other Liabilities | 31,218,979 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 543,096,010 |
| Regular shares | 162,868,758 |
| All Other Shares & Deposits | 260,889,060 |
| TOTAL SHARES & DEPOSITS | 966,853,828 |
| TOTAL LIABILITIES | 1,183,904,388 |
| Regular Reserve | 0 |
| Other Reserves | -15,317,444 |
| Undivided Earnings | 93,523,209 |
| TOTAL EQUITY | 78,205,765 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,262,110,153 |
| INCOME & EXPENSE | |
| Loan Income | 27,892,957 |
| Investment Income | 2,263,086 |
| Other Income | 7,805,681 |
| Total Employee Compensation & Benefits | 21,245,211 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 16,407,830 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,046,412 |
| Cost of Funds | 2,055,906 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 6,537,958 |
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