What You’ll Learn
- Discover the everyday benefits of credit union membership—lower credit union interest rates, better savings returns, personal service, and community impact—all with your financial wellness in mind.
Benefits of Being a Credit Union Member
You might already know that credit unions are different—but you might not know just how much those differences can benefit you. At their core, credit unions are not-for-profit financial cooperatives owned by their members. That means instead of sending profits to outside shareholders, it goes back to our members—often in the form of better rates, fewer fees, and charitable giving that supports your community.
Plus, you’ll find access that goes far beyond your local branch. Most credit unions—including Salal—are part of nationwide shared branch and ATM networks, giving you fee-free ATMs and branch access across the country.
Financial Perks You Might Not Know About
Lower Loan Rates for Homes, Cars, and Personal Needs
Whether you’re buying a car, renovating the kitchen, or finally taking that bucket-list trip, credit unions often come through with better loan rates. On average, auto loans from credit unions are about 2% lower than those offered by traditional banks. And that’s just the start. Personal loan and mortgage rates are often lower too, helping you save more over time.
Credit unions are also federally capped (in most cases) at 18% APR (annual percentage rate), offering members some added peace of mind during uncertain rate environments. That’s one way we make sure our interests stay aligned with yours. We keep borrowing costs low so more of your money stays in your wallet.
Higher Savings and CD Rates
We also help your money grow. Credit unions are known for offering higher yields on savings and CDs than banks do. It all comes down to how we prioritize member benefits. Because we’re built around people, not profit margins, credit union interest rates on savings are designed to support your financial wellness, not someone else’s quarterly earnings report.
Personalized Service and Better Customer Support
It’s no secret that big bank service can sometimes feel impersonal. At a credit union, it’s a different story. Members often get to work with dedicated people who know your name, your goals, and your community. It’s service that listens and adapts. Credit unions also will often specialize in serving groups that might face challenges accessing banking services through traditional banks.
That extra care shows up in the numbers too. Credit unions consistently rank higher than banks in customer satisfaction surveys, especially when it comes to trust, accessibility, and getting problems solved the first time around.
How to Become a Member of Salal Credit Union
Becoming a Salal member is easy. You’re eligible if you:
- Live or work in Washington state, or in eligible Oregon counties like Multnomah, Clackamas, Lane, or Deschutes.
- Are related to a current Salal member or employee.
- Work for an organization affiliated with the Salal Foundation—or simply join the Foundation yourself.
Opening a checking account takes just $25 deposit to get started. You can open a savings account with just a $5 deposit. And while you’re taking a big step towards building your financial well-being, you’re also making a difference. Every year, Salal directs around 5% of our income to support community causes like clean energy, financial education, and access to healthcare.
Is a Credit Union Right for You?
If you’re looking for a financial institution that offers lower loan rates, better savings yields, and more personal service—all while investing in the community—a credit union could be a great fit. When you choose a credit union, you’re joining a movement rooted in cooperation, equity, and real-world impact. Whether it’s enjoying better credit union rates, receiving attentive service, or supporting your local community, the benefits go beyond your account balance.
Thinking about switching to a Washington State credit union? See our guide for switching to Salal as your primary financial institution. Have questions? We’re here to help you get started.
