Salal Credit Union

News & Updates

Help for Members Economically Affected by the Coronavirus Outbreak

With the coronavirus shutting down public gatherings, restricting travel, and closing schools, many people in our region are feeling the economic impact. If you find yourself facing unexpected financial challenges due to a temporary work stoppage, reduction in hours, or business closure, we encourage you to review these options for assistance below. Depending on your situation, we have many ways we can help meet your needs and hopefully relieve a little stress during a difficult time.

Skip-a-Pay

If you need temporary payment relief from a loan you have at Salal, you can skip up to two payments within a year on eligible Salal loans. To further assist, we are suspending the $25 processing fee. Learn about our Skip-a-Pay program and download the needed form at Salal Skip-a-Pay.

Utilizing the Equity in Your Home

Mortgage rates are currently near all-time lows. Utilizing a traditional cash-out refinance can help provide much-needed emergency savings while potentially even lowering your monthly payment. If you would like greater flexibility, a Custom Fit Home Equity loan can provide you access to the equity you have built up in your home. Custom Fit gives you the option of drawing only the amount you need, when and if you need emergency funds. Learn more about both programs at Salal Home Loans.

Auto Equity Loan

An auto equity loan can be a useful tool for people who may not qualify for other financing options. An auto equity loan gives you the ability to borrow against the value of your car, truck, or RV, even if you are still making payments on the vehicle. Call us to learn more.

Personal Loans

Personal loans can come in handy when you need cash quickly. And their fixed interest rate can be a great alternative to credit cards, which carry variable rates. Salal has a range of options to help you pay for almost any expense. Learn more about your loan options.

Debt and Budget Coaching

Through our partnership with BALANCE, we provide free, immediate access to a certified financial coach by phone at 888.456.2227.

We’re Here to Help

Should you need more assistance, we encourage you to reach out to speak with a Salal representative. We’re here to help in these challenging times. If you would like to talk more about your options, give us a call at 800.562.5515.

 

All Salal loans are subject to credit approval.