Salal Credit Union Overview and Key Facts

Salal Credit Union is a not-for-profit financial cooperative that serves over 135,000 members in the Pacific Northwest.

Salal Credit Union has been in operation for over 80 years, providing financial services to its members since 1934.

The credit union is headquartered in Seattle, Washington, and has a strong presence in the local community.

Salal Credit Union is federally insured by the National Credit Union Administration (NCUA), which means members' deposits are insured up to $250,000.

Salal Credit Union was founded in Seattle in 1948 as a not-for-profit financial institution by employees of Group Health Cooperative.

The company started out exclusively serving employees of Group Health and select employee groups. It wasn't until 1996 that they expanded their membership criteria to include geography.

Their charter opened in 2003, allowing anyone who lives or works in Washington State to become a member.

Salal Credit Union offers a range of services to meet the financial needs of its members.

The credit union has a network of 15 branches across Washington state, providing convenient access to financial services.

Members can bank with confidence, knowing that their deposits are insured up to $250,000 by the National Credit Union Administration (NCUA).

We're proud to support our community through various grants that help make a positive impact. Salal Credit Union has made significant contributions to local organizations.

Salal Credit Union has a strong commitment to giving back to the community. In 2023-12, the credit union made grants to several organizations, totaling over $190,000.

Here are some of the grants made by Salal Credit Union in 2023-12:

These grants demonstrate Salal Credit Union's dedication to supporting local causes and promoting the well-being of our community members.

The team behind Salal Credit Union is quite impressive. Russell Rosendal, the President and Chief Executive, earns a compensation of $1,014,128.

Russell Rosendal is not the only high earner, as Randy Cloes, the Senior Vice President and Chief Financial Officer, takes home $312,544.

Skott Pope is also a Senior Vice President, but his compensation is not listed. It's possible that this information is not publicly available or is missing from the data.

Troy-Skott Pope, on the other hand, has a compensation of $311,289, which is lower than Randy Cloes but still a significant amount.

Judy Loveless-Morris, the Senior Vice President and Chief Diversity and People Officer, earns $283,948.

Here's a list of the top earners at Salal Credit Union:

ACH transfers are like sending a check electronically, taking a few business days to complete as they go through a central network for verification.

They're generally free or very low-cost, making them perfect for regular bill payments or direct deposits.

Wire transfers, on the other hand, are speedier, zipping directly between banks, often on the same business day, sometimes even instantly.

You'll pay a fee, typically ranging from $25 to $50, for this privilege, making wire transfers ideal for urgent transactions or international transfers that ACH can't handle.

Finding your routing number online can be a straightforward process. You can start by checking the official website of the Federal Reserve, known as Fedwire, where you can look up your routing number.

One option is to log into your online banking account, which usually has your routing number listed. This is a convenient way to access your routing number from the comfort of your own home.

If you're unable to find your routing number online, you can also try looking at a bank-issued check or bank statement, which typically includes your routing number.

Another option is to visit a website that lists routing numbers for major banks in the US. This can be a helpful resource if you're unsure about where to start.

Here's a quick rundown of the options:

When looking up a business's NAICS code, it's essential to have the right information. The NAICS code for Salal Credit Union is 52213, 522130, 52, 522, and 5221.

NAICS codes help identify the specific industry a business operates in. Salal Credit Union's NAICS codes indicate its involvement in the credit industry.

You can find NAICS codes on various government websites or by contacting the business directly. In the case of Salal Credit Union, the NAICS codes are readily available for reference.

Businesses use NAICS codes for various purposes, including tax reporting and industry classification.

Salal Credit Union's financial information is publicly available, and it's interesting to see the changes in their revenues over the years.

Their total revenues for FYE 12/2023 were $74,965,948. This is a significant increase from FYE 12/2022, which was $63,361,594, showing an 18.3% growth.

Program services were a major contributor to their revenues, totaling $68,887,854 in FYE 12/2023, an 18.5% increase from $58,120,658 in FYE 12/2022. Investment income and dividends also saw a substantial growth, increasing by 58.6% to $5,654,975 in FYE 12/2023.

Here's a breakdown of their revenues for FYE 12/2023:

Salal Credit Union's financials show a significant increase in revenue over the years. In 2022, their total revenues were $63.4 million, but in 2023, they jumped to $74.9 million.

Their program services revenue grew by 18.5% from 2022 to 2023, reaching $68.9 million. This is a substantial increase, indicating the credit union's efforts to expand its services are paying off.

Investment income and dividends also saw a notable growth of 58.6% from 2022 to 2023, reaching $5.7 million. This suggests that the credit union's investment strategies are yielding positive results.

Here's a breakdown of Salal Credit Union's revenues for 2023:

It's worth noting that the credit union's annual revenue was reported as $17.3 million in 2025, a significant decrease from their 2023 revenues.

Randy Cloes is the CFO of Salal Credit Union. I've never personally met him, but it's reassuring to know that there's a dedicated financial expert at the helm.

The CFO is responsible for overseeing the financial health of the organization, making sure everything runs smoothly and efficiently. This is a crucial role, especially in the financial sector.

Salal Credit Union's financial stability is likely a top priority for Randy Cloes, given his position as CFO.

Form 990s are a crucial source of financial information for non-profit organizations like Salal Credit Union. They provide a snapshot of the organization's financial health and activities.

The Form 990s for Salal Credit Union are filed annually with the IRS, with the most recent one being for the fiscal year ending 2023-12. It was received by the IRS on November 8, 2024.

These forms are publicly available, and you can view the PDF link for each year. For example, the 2022-12 Form 990 was received by the IRS on November 15, 2023, and can be viewed online.

To give you a better idea, here's a list of the most recent Form 990s for Salal Credit Union:

These forms offer valuable insights into Salal Credit Union's financial performance and governance practices.

If you're looking for organizations like Salal Credit Union, you might want to consider them.

One such organization is Salal Credit Union, which is a great example of a similar type of organization.

If you want to find more organizations like Salal Credit Union, you can search for them or ask for updates when they have new information.

For example, you can get updates when Salal Credit Union has new information or find more organizations like them.