Rates & Disclosures

The following product information is applicable to Salal accounts as of the effective dates shown.


Checking

Savings & Money Market Accounts

Certificates - Share, Choice and Youth

IRA Savings & Certificates

Personal Loans

Home & Home Equity Loans

Auto Loans

Boat & Recreational Vehicle and Motorcycle Loans

Classic Visa®

Student Visa®

Secured Visa® cards

Salal Rewards Visa® card

Checking Accounts

APY* is accurate as of April 1, 2014 and is subject to change without notice. Minimum opening deposit is $25.

ProductBalanceInterest RateAPY*
Salal Silver Horizons $5,000 - $24,999 0.05% 0.05%
Salal Silver Horizons $25,000 + 0.08% 0.08%

*APY = Annual Percentage Yield

Must meet Silver Horizons eligibility requirements:

  • Account holder must be Salal member aged 55 or older
  • Account holder must maintain direct deposit of payroll, government or retirement income into a Salal account, OR
  • Account holder must maintain at least $2,500 in a Salal savings, Premium Plus, IRA or certificate or Silver Horizons checking will revert to My Checking

Savings Account

APY* is accurate as of April 1, 2014 and is subject to change without notice.

AccountTiers Interest Rate APY*
Primary Savings $100 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05%0.05%
$10,000 - $24,999 0.08%0.08%
$25,000 - $49,999 0.08% 0.08%
$50,000 - $99,999 0.10%0.10%
$100,000 + 0.15%0.15%
Extra Savings $100 - $2,499 0.05%0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.08%0.08%
$25,000 - $49,999 0.08%0.08%
$50,000 - $99,999 0.10%0.10%
$100,000 + 0.15% 0.15%
Youth Savings$5 - $2,499 0.03% 0.03%
$2,500 - $9,999 0.03% 0.03%
$10,000 - $24,999 0.03% 0.03%
$25,000 - $49,999 0.03% 0.03%
$50,000 - $99,999 0.05%0.05%
$100,000 + 0.15%0.15%

*APY = Annual Percentage Yield

Premium Plus Money Market

Rates are subject to change. Must maintain a minimum balance of $2,500* to earn dividend. All dividends credited and compounded monthly.

APY** is accurate as of April 1, 2014 and is subject to change without notice.

Tiers InterestAPY*
$2,500-$9,999 0.05% 0.05%
$10,000-$24,9990.10% 0.10%
$25,000-$49,9990.10% 0.10%
$50,000-$99,9990.15% 0.15%
$100,000+0.15% 0.15%

*Fees can reduce the earnings on your account.

See credit union for account details.

**APY = Annual Percentage Yield

Share Certificates

The following certificates require a minimum opening balance of $1,000. Compounding certificates are calculated and credited monthly. A penalty may be imposed for early withdrawal.

APY* is accurate as of April 1, 2014 and is subject to change without notice.

TermBalanceRateAPY*
6 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.15% 0.15%
Jumbo ($100,000 +) 0.20% 0.20%
9 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.15% 0.15%
Jumbo ($100,000 +) 0.20% 0.20%
12 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.10% 0.10%
$10,000 - $24,999 0.15% 0.15%
$25,000 - $49,999 0.20% 0.20%
$50,000 - $99,999 0.25% 0.25%
Jumbo ($100,000 +) 0.30% 0.30%
18 Months $1,000 - $2,499 0.34% 0.34%
$2,500 - $9,999 0.38% 0.38%
$10,000 - $24,999 0.50% 0.50%
$25,000 - $49,999 0.54% 0.54%
$50,000 - $99,999 0.55% 0.55%
Jumbo ($100,000 +) 0.55% 0.55%
24 Months $1,000 - $2,499 0.48% 0.48%
$2,500 - $9,999 0.50% 0.50%
$10,000 - $24,999 0.55%0.55%
$25,000 - $49,999 0.55%0.55%
$50,000 - $99,999 0.55%0.55%
Jumbo ($100,000 +) 0.55%0.55%
30 Months $1,000 - $2,499 0.57% 0.57%
$2,500 - $9,999 0.60% 0.60%
$10,000 - $24,999 0.60% 0.60%
$25,000 - $49,999 0.65% 0.65%
$50,000 - $99,999 0.65% 0.65%
Jumbo ($100,000 +) 0.65% 0.65%
36 Months $1,000 - $2,499 0.80% 0.80%
$2,500 - $9,999 0.80% 0.80%
$10,000 - $24,999 0.85% 0.85%
$25,000 - $49,999 0.90% 0.90%
$50,000 - $99,999 0.90% 0.90%
Jumbo ($100,000 +) 0.90% 0.90%
48 Months $1,000 - $2,499 1.14%1.15%
$2,500 - $9,999 1.24%1.25%
$10,000 - $24,999 1.29%1.30%
$25,000 - $49,999 1.39%1.40%
$50,000 - $99,999 1.39%1.40%
Jumbo ($100,000 +) 1.39%1.40%

*APY = Annual Percentage Yield.

Choice Certificate

Additional deposits can be made at any time during the 6-month term of the certificate. The Salal Choice Certificate is not eligible for Salal Rewards points. A minimum opening balance of $500 is required. A penalty may be imposed for early withdrawal.

APY* is accurate as of April 1, 2014 and is subject to change without notice.

BalanceInterest RateAPY*
$500 - $999 0.05% 0.05%
$1,000 - $9,999 0.09% 0.09%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.15% 0.15%
Jumbo ($100,000 +) 0.20% 0.20%

*APY = Annual Percentage Yield.

Youth Certificate

This 24-month term certificate is available for members 17-years old and younger. A minimum opening balance of $100 is required. A penalty may be imposed for early withdrawal.

APY* is accurate as of April 1, 2014 and is subject to change without notice.

BalanceRateAPY*
$100 - $999 0.10% 0.10%
$1,000 - $9,999 0.15% 0.15%
$10,000 - $24,999 0.25% 0.25%
$25,000 - $49,999 0.29% 0.29%
$50,000 - $99,999 0.32% 0.32%
Jumbo ($100,000 +) 0.35% 0.35%

*APY = Annual Percentage Yield.

IRA Savings

APY* is accurate as of April 1, 2014 and is subject to change without notice.

BalanceRateAPY*
$100 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.12% 0.12%
$100,000 + 0.15% 0.15%

*APY = Annual Percentage Yield.

IRA Certificates

All of the certificates below may be used for Roth, Traditional or Education IRA accounts. A penalty may be imposed for early withdrawal. All IRA certificates require a minimum opening balance of $1,000. Dividends are compounded and credited monthly.

APY* is accurate as of April 1, 2014 and is subject to change without notice.

TermBalanceRateAPY*
6 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.15% 0.15%
Jumbo ($100,000 +) 0.20% 0.20%
9 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.05% 0.05%
$10,000 - $24,999 0.10% 0.10%
$25,000 - $49,999 0.10% 0.10%
$50,000 - $99,999 0.15% 0.15%
Jumbo ($100,000 +) 0.20% 0.20%
12 Months $1,000 - $2,499 0.05% 0.05%
$2,500 - $9,999 0.10% 0.10%
$10,000 - $24,999 0.15% 0.15%
$25,000 - $49,999 0.20% 0.20%
$50,000 - $99,999 0.25% 0.25%
Jumbo ($100,000 +) 0.30% 0.30%
18 Months $1,000 - $2,499 0.45% 0.45%
$2,500 - $9,999 0.46% 0.46%
$10,000 - $24,999 0.48% 0.48%
$25,000 - $49,999 0.55% 0.55%
$50,000 - $99,999 0.55% 0.55%
Jumbo ($100,000 +) 0.55% 0.55%
24 Months $1,000 - $2,499 0.48% 0.48%
$2,500 - $9,999 0.50% 0.50%
$10,000 - $24,999 0.55%0.55%
$25,000 - $49,999 0.55%0.55%
$50,000 - $99,999 0.55%0.55%
Jumbo ($100,000 +) 0.55%0.55%
30 Months $1,000 - $2,499 0.57% 0.57%
$2,500 - $9,999 0.60% 0.60%
$10,000 - $24,999 0.65% 0.65%
$25,000 - $49,999 0.65% 0.65%
$50,000 - $99,999 0.65% 0.65%
Jumbo ($100,000 +) 0.65% 0.65%
36 Months $1,000 - $2,499 0.80% 0.80%
$2,500 - $9,999 0.80% 0.80%
$10,000 - $24,999 0.85% 0.85%
$25,000 - $49,999 0.90% 0.90%
$50,000 - $99,999 0.90% 0.90%
Jumbo ($100,000 +) 0.90% 0.90%
48 Months $1,000 - $2,499 1.14%1.15%
$2,500 - $9,999 1.24%1.25%
$10,000 - $24,999 1.29%1.30%
$25,000 - $49,999 1.39%1.40%
$50,000 - $99,999 1.39%1.40%
Jumbo ($100,000 +) 1.39%1.40%

*APY = Annual Percentage Yield

Personal Loans

APR* is accurate as of April 1, 2014 and is subject to change without notice.

Type of Loan APR* Terms Sample Payment**
Salal EZ Line of Credit 9.90% - 15.00% Revolving N/A
Salal Signature Loan***9.90% - 15.00% Up to 60 Months $32.22
Share Loan 6.50% Secured by Salal Credit Union Savings or Premium Plus N/A
Share Certificate Loan2.50% margin over Certificate dividend rate. 6.50% minimum Secured by Salal Credit Union Certificate - due at Certificate maturity. IRA Share Certificate not eligible N/A

* APR = Annual Percentage Rate

** Sample payments based on $1,000 loan.

***The APR on all loans without automatic payment will be 0.25% higher. For example, an APR of 11.99 increases  by 0.25%. Refer to the Credit and Security Agreement for specific disclosures.

Home Loans

Find our most current mortgage rates here.

Home Equity Loans

APRs* are accurate as of April 1, 2014 and are subject to change without notice.

Loan Type APR* Terms
Fixed Rate Home Equity Loan5.75% - 8.50% 15, 10, and 15 years
Fully amortizing
Online Access Home Equity Line of Credit – Variable Rate2 4.00% - 5.50%1 Revolving with 10 year draw period
15 year amortization after end of draw period
VISA Access Home Equity Line of Credit – Variable Rate24.00% - 4.75%1Revolving - 15 years
Outstanding balance due in full upon maturity

* APR = Annual Percentage Rate

1 These are the range of APRs offered for this type of loan. The actual APR will be based on creditworthiness, loan-to-value (LTV), and the owner occupancy status of the subject property.

2 Index = Wall Street Journal Prime Rate. Margin is dependent upon creditworthiness, LTV, and owner occupancy status. APR floor = 4.00%.

  • Maximum LTV available based on approved credit and valuation of the property
  • Homeowners insurance required
  • Residential real estate only
  • Subject property must be located in Washington state and vested in borrower's name
  • Salal Rewards Points .25% rate discount available on Fixed Rate Home Equity Loans only
  • If a full appraisal is required on your owner-occupied property, your cost may be $225-350.
  • All costs and fees for loans secured by investment properties are paid by borrower. Fees range from $600-1000.

Auto Loans

APR* is accurate as of April 1, 2014 and is subject to change without notice.

Loan Type APR* CommentsTerms
New - vehicles that have never been titled or licensed and used vehicles up to 4 years old2.99% - 12.24% 1Rates adjust without automatic payment 3Up to 84 months 2
Used - vehicles that have been titled or licensed and are 5 - 7 years old 2.99% - 12.99% 1 Rates adjust without automatic payment 3Up to 84 months
Classic cars or older - older than 7 years8.49% - 13.49% 1Rates adjust without automatic payment 3Up to 60 months

* APR = Annual Percentage Rate

1 These are the range of APRs offered for this type of loan, and the actual APR will be based on creditworthiness, age of vehicle and the term of the loan.

2 Terms up to 84 months are available, based on the age of the vehicle and the dollar amount of the loan. See Credit Union for details.

3 All loans without automatic payment will be 0.25% higher. For example, an APR of 11.99 increases by 0.25%. Refer to the Credit and Security Agreement for specific disclosures.

  • Maximum term and loan-to-value (LTV) based on approved credit
  • New vehicle value based on Manufacturer's Suggested Retail Price
  • Used vehicle value based on NADA retail
  • Collision and comprehensive insurance required

Terms for all vehicle loans available are based on the loan amount:

Terms available are based on the loan amountSample Payment*
$1,000 - $4,999 Up to 36 months $29.07
$5,000 - $9,999 Up to 48 months $110.64
$10,000 - $14,999 Up to 60 months $179.64
$15,000 - $19,999 Up to 72 months $227.83
$20,000 or greater Up to 84 months $264.17

* Sample payments based on the lowest loan amount in range.

Boat, Recreational Vehicle, and Motorcycle Loans

APR* is accurate as of April 1, 2014 and is subject to change without notice.

Boats and RVs APR* Comments Terms
New—Units that have never been titled or licensed6.24% - 11.24% 1 Rates adjust without automatic payment 2 Up to 72 months**
Used—Units that have been titled or licensed6.24% - 11.24% 1Rates adjust without automatic payment 2 Up to 72 months
Older—Older than 7 years 8.24% - 13.24% 1 Rates adjust without automatic payment 2 Up to 60 months
Motorcycles
New – 2009 or 2010 model year units that have never been titled or licensed6.99% - 10.99% Rates adjust without automatic payment 2 Up to 72 months
Used – Units that have been titled or licensed6.99% - 10.99% Rates adjust without automatic payment 2 Up to 72 months

* APR = Annual Percentage Rate

  • Maximum term and loan-to-value (LTV) based on approved credit
  • New boat/RV value based on Manufacturer's Suggested Retail Price
  • Used and older boat/RV value based on NADA Retail
  • Marine surveys may be required on boats
  • Preferred Marine Mortgages are required on all boat loans over $50,000
  • Collision and comprehensive insurance required

1These are the range of APRs offered. The APR that will apply depends on your creditworthiness and the term of the loan.

2All loans without automatic payment will be 0.25% higher. For example, an APR of 11.99 increases  by 0.25%. Refer to the Credit and Security Agreement for specific disclosures.

Terms for all vehicle loans available are based on the loan amount:

Terms available are based on the loan amountSample Payment*
$1,000 - $4,999 Up to 36 months $30.53
$5,000 - $9,999 Up to 48 months $117.98
$10,000 - $14,999 Up to 60 months $194.45
$15,000 or greater Up to 72 months $250.30

*Sample payments based on the lowest loan amount in range.

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