Salal Credit Union
501(c)(14)
Only null% goes to programs Strong reserves Growing revenue
Salal Credit Union is a 501(c)(14) organization based in Seattle, Washington, registered in 1954, with $76,210,438 in FY2024 revenue. CharityIndex grades it A.
9706 4th Ave Ne, Seattle, WA, 98115 EIN 91-0593941 Since 1954
Revenue (FY2024)
$76.2M
▲ 1.7% vs prior year
Expenses (FY2024)
$74.7M
Net assets
$90.8M
Employees
261
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Salal Credit Union— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating15 mo reserves · +2% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Salal Credit Union: 15 mo reserves · +2% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Salal Credit Union: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Salal Credit Union: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
We eliminate financial obstacles to help everyday visionaries realize their full potential.
What they do
Salal credit union offers financial literacy/education programs through balance financial fitness program to members and employees. these educational programs are designed to help individuals in budgeting, saving for major purchases, college, and retirement and overall financial management.
Salal credit union is active in the community by contributing to the fundraising efforts of several worthwhile organizations such as healthpoint, international community health services (ichs), northwest credit union foundation, northwest harvest, and king county nurses association. salal credit union also provides matching contributions for employees and directors to approved 501(c)(3) organizations up to $500 per year.
Contact & location
- Address
- 9706 4th Ave Ne, Seattle, WA, 98115
- City
- Seattle
- State
- Washington
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $18.2M (FY2013) to $76.2M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.1BNet assets $90.8M
Operating margin
1.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.2B
Total liabilities
$1.1B
Net assets
$90.8M
Salaries & benefits
$29.6M
40% of expenses
Board members
6
6 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $76,210,438▲1.7% | $74,738,083▲9.6% | $90,808,066▲2.7% | $1,177,190,511▼3.3% | 990 |
| 2023 | $74,965,948▲18.3% | $68,206,763▲19.4% | $88,404,659▲12.1% | $1,217,780,482▼4.8% | 990 |
| 2022 | $63,361,594▲18.6% | $57,114,018▲29.0% | $78,888,307▼8.2% | $1,278,954,143▲18.8% | 990 |
| 2021 | $53,428,759▲0.9% | $44,265,058▲1.1% | $85,917,482▲9.2% | $1,076,834,962▲8.5% | 990 |
| 2020 | $52,975,542▲16.4% | $43,765,501▲21.3% | $78,659,662▲15.8% | $992,751,176▲34.7% | 990 |
| 2019 | $45,513,964▲30.3% | $36,077,128▲17.6% | $67,934,577▲16.3% | $737,187,544▲12.3% | 990 |
| 2018 | $34,926,129▼2.8% | $30,673,939▲23.1% | $58,388,130▲7.6% | $656,178,772▲22.3% | 990 |
| 2017 | $35,930,014▲38.1% | $24,910,783▲13.3% | $54,263,663▲25.7% | $536,665,059▲8.4% | 990 |
| 2016 | $26,017,785▲1.5% | $21,994,794▲7.9% | $43,179,172▲10.5% | $495,210,042▲14.1% | 990 |
| 2015 | $25,633,125▲29.5% | $20,386,744▲10.2% | $39,073,698▲13.3% | $433,959,684▲14.9% | 990 |
| 2014 | $19,800,009▲9.0% | $18,499,274▲4.4% | $34,488,413▲6.6% | $377,673,961▲3.8% | 990 |
| 2013 | $18,163,869 | $17,727,276▲4.7% | $32,341,054▼4.6% | $364,010,055▲2.0% | 990 |
| 2012 | — | $16,925,654▼1.1% | $33,905,749▲7.4% | $356,857,145▲3.3% | 990 |
| 2011 | — | $17,113,154▼1.0% | $31,580,352▲5.7% | $345,576,575▲7.4% | 990 |
| 2010 | — | $17,285,215 | $29,874,908 | $321,821,640 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Russell E Rosendal — $1,541,011 (2.06% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Russell E Rosendal | President/ceo | 40 | $1,541,011 |
| Robert W Schweigert | Svp - Chief Lending Officer | 40 | $324,344 |
| Troy-skott Pope | Svp - Chief Digital/strategy Officer | 40 | $321,322 |
| Randy William Cloes | Svp - Cfo | 40 | $319,358 |
| Judy Loveless-morris | Svp - Chief Diversity & People | 40 | $310,103 |
| Brett Ballman | Vp - Director of Business | 40 | $238,103 |
| Samantha Harbert | Fvp - Home Lending & Retail | 40 | $224,118 |
| Christian Grunert | Fvp - Information Technology | 40 | $216,238 |
| Kari Stenslie | Vp - Controller | 40 | $208,569 |
| Matthew W Vance | Vp - Marketing & Prod. Development | 40 | $188,204 |
| Keith Price | Senior Manager of Data Strategy | 40 | $188,165 |
| Matthew Heitland | Vp - Application Development | 40 | $187,878 |
| Munzer J Sukhun | Vp - Business Services | 40 | $185,521 |
| Kevin Knowles | Vp - Credit Administration | 40 | $174,648 |
| James A Millsap | Dealer Direct Account Manager | 40 | $173,121 |
| Sylvia Pope | Vp - Program Management | 40 | $169,514 |
| Nanette Courtney Senior | Mgr Financial Crimes & Bsa Office | 40 | $162,113 |
| Angela Raham | Senior Manager of Business Banking | 40 | $152,908 |
| Megan Desilva | Dealer Direct Sales Manager | 40 | $144,692 |
| Phillip Falck | Senior Project Manager | 40 | $143,951 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Empyreal Enterprises Ma LLC | Cash Courier | $2,129,467 |
| Alkami Technology Inc | Data Processing | $931,482 |
| Jack Henry & Associates Inc | Data Processing | $830,227 |
| Softchoice Corporation | Software & It | $818,954 |
| New Dimension Interior Inc | Construction | $495,468 |
Grants made · $60K in FY2024
1 grant totaling $60K in FY2024. All grants made by Salal Credit Union →
| Recipient | Purpose | Amount |
|---|---|---|
| Salal Foundation | General support | $60,000 |
Frequently asked questions
- Is Salal Credit Union a legitimate nonprofit?
- Yes. Salal Credit Union is a 501(c)(14) organization registered with the U.S. Internal Revenue Service under EIN 91-0593941, based in Seattle, Washington.
- What is Salal Credit Union's EIN?
- Salal Credit Union's Employer Identification Number (EIN) is 91-0593941.
- How much revenue does Salal Credit Union report?
- Salal Credit Union reported $76,210,438 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Salal Credit Union have?
- CharityIndex grades Salal Credit Union A, based on financial health (reserves and operating margin).
- How much does Salal Credit Union's highest-paid employee make?
- The highest reported compensation on Salal Credit Union's latest Form 990 is $1,541,011, paid to Russell E Rosendal (President/ceo).
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Data for Salal Credit Union (EIN 91-0593941) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.