Dec, 31, 2021 — SALAL CREDIT UNION is a federally insured state chartered credit union headquartered in SEATTLE, WA with 5 branch locations and about $1.08 billion in total assets. Opened 74 years ago in 1948, SALAL CREDIT UNION has about 48,862 members and employs 254 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: | http://www.salalcu.org |
| Branches: | 5 branch locations |
| Members: | 48,862 |
| 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, 2020 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,076,834,959 |
| CEO/Manager: | Russell E Rosendal |
| Chairperson: | Annette Murphy |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 152,096,048 |
| TOTAL INVESTMENTS | 168,287,227 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 410,563,971 |
| Unsecured Loans | 36,253,632 |
| Other Loans | 264,863,521 |
| TOTAL LOANS | 711,681,124 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -9,511,171 |
| Land And Building | 24,815,529 |
| Other Fixed Assets | 7,576,906 |
| NCUSIF Deposit | 5,267,425 |
| All Other Assets | 16,621,871 |
| TOTAL ASSETS | 1,076,834,959 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 92 |
| Notes & Interest Payable | 14,033,803 |
| Accounts Payable & Other Liabilities | 27,483,504 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 563,235,096 |
| Regular shares | 167,260,719 |
| All Other Shares & Deposits | 218,904,264 |
| TOTAL SHARES & DEPOSITS | 949,400,079 |
| TOTAL LIABILITIES | 990,917,478 |
| Regular Reserve | 4,299,854 |
| Other Reserves | -1,067,769 |
| Undivided Earnings | 82,685,396 |
| TOTAL EQUITY | 85,917,481 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,076,834,959 |
| INCOME & EXPENSE | |
| Loan Income | 29,724,365 |
| Investment Income | 1,585,976 |
| Other Income | 10,363,113 |
| Total Employee Compensation & Benefits | 25,502,761 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 20,782,804 |
| Non-operating Income & (Expense) | -5 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 273,745 |
| Cost of Funds | 1,220,646 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 9,205,780 |
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