If holiday bills or other expenses have you feeling a little ruffled, don’t forget that you may be eligible to skip a payment on a Salal loan. That little extra cash can be just what we need sometimes, when the cost of living seems to be more about “cost” than “living!”

Some considerations: not every Salal loan is eligible for the Skip a Payment program, so please check our website for details. Also, please remember there is a $25 fee per skip, payable by check or via a transfer from a Salal account. You are extending the term of your loan by one month per skip; interest will continue to accumulate, even during a “skipped” month—this may increase the overall cost of your loan. 

If skipping a payment on a Salal loan might make breathing a little easier, requesting a skip is simple:

1. Go to our website, salalcu.org.
2. Click on the “Loans” tab and choose “Skip a Payment” from the list on the left.
3. Print the form, fill it out and mail it or bring it to a branch.
4. You can also request a skip form from your branch or by calling 800.562.5515 to have one mailed to you.

*Other restrictions may apply.

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Salal has exciting news! Coming February 2012, we will be rolling out a line of Visa credit cards, including a rich Visa Rewards card, a Visa Classic card, a Visa Student card and a Visa Secured card. In 2008, Salal sold its credit card portfolio to an outside vendor. In order to expand our offerings to our members, we’ve decided to let that contract conclude and launch our own Visa cards!

Our cards come with numerous benefits you won’t want to miss out on:

• Free, secure and simple account access. Track your spending, make a payment and monitor your account online, 24/7. For Visa Rewards card holders, redeem your points, 24/7, online!
• Overdraft protection for your Salal checking account
• Great rates, Salal’s exceptional personal service, and no annual fees!

Additionally, if you apply and are approved for our Salal Rewards or Classic Visa cards, you’ll receive 1% cash back on balance transfers and purchases for the first three months.*

If you have an existing Visa card with the Salal name and logo, there are some things you need to know: your card, your account number, rate, automatic payments, etc. are not affected as a result of this change. Your cards are still managed by the same company and will still be accepted, but when your current card expires, you’ll receive a new card that no longer bears the Salal name or logo. You will receive separate billing from Cardmember Service.

Stay tuned to salalcu.org for further details!

*Some restrictions apply. All Salal loans are subject to credit approval.

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The 2012 Annual Meeting for Salal Credit Union will be held Wednesday, March 28, at our Administrative Building, 1515 Dexter Avenue North, Seattle, 98109. Salal members and their families are invited to attend. We will be voting on candidates for open seats on the Board of Directors or supporting committees. See the February News You Can Use for details on candidates.

The meeting is from 7-8 pm, and refreshments will be served. If you plan on attending, please RSVP with your name and the number of people in your party to cindyb@salalcu.org by March 15, 2012.

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Once again, Salal is offering our members access to TurboTax at a reduced price—even a free version! Now have the power, accuracy, speed and Total Assurance™ protection of TurboTax for 15% less. And because you sign on via Salal Online Banking, much of your tax return will be pre-filled for you, including your 2010 tax information, even if the TurboTax program you used wasn’t offered by Salal.

TurboTax is the best-selling tax software in America, offering guidance for first-time users, access to the “Live Community” where users can get answers and advice from tax experts and each other, speedy returns with the TurboTax Refund Card, a “life change” expert who will help you navigate the tax ramifications of a new baby, change in marital status, and so on. This kind of help and support can make doing your taxes a whole lot less “taxing.”

To access TurboTax for Salal members, you’ll need to be registered for Salal’s Online Banking. If you’re already an Online Banking user, you can find the “My TurboTax” tab at the top of your Account Summary screen. TurboTax via Salal Online Banking is secure and convenient, so sign on today!

If you are not currently registered with Salal’s Online Banking, you may do so by going to our homepage, salalcu.org. In the blue box labeled “Online Banking,” type in your member number and the last four digits of your Social Security number. Then follow the instructions to request Online Banking with Salal.

TurboTax is a great way to get your taxes completed quickly, easily and accurately, and thanks to your Salal membership, for 15% less!

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For too many of us, the holidays are a time of excess: excess food, excess celebration, excess spending. According to some experts, Americans were on track to put up to 7% more on their credit cards in the 2011 holiday season, so if one of your New Year’s resolutions is to get out from under credit card debt, you’re probably not alone! Here are some ways all of us can reduce our burden of debt and get back on track to better financial health:

1. Stop charging. You can’t get out of a hole by digging. Paying with cash helps you reconnect with your money, so budget what you’ll need each week and commit to cash.
2. Pay down debt faster by starting with the card that has the highest interest rate. Continue to pay at least the monthly minimum on the rest, but pay off your most expensive debt as quickly as you can. When that card is finished, go to the next highest interest rate and so on until you’re done with debt.
3. Turn white elephants into cash cows. CardHub.com will take your unwanted gift cards and turn them into cash; return the rest of your unwanted gifts for cash or store credit. For anything you can’t return, there’s always Craigslist.com, eBay or a garage sale!
4. Invest your tax return in debt reduction. If you’re getting something back from Uncle Sam, treat it like income, not like a gift. Save some, use some to pay off debt, spend a little.
5. Embrace frugality. Being frugal can be fun! Challenge yourself to see how much you can shave off your monthly expenses by brown-bagging it to work or shopping at consignment stores instead of the mall. Send your favorite tips for saving to news@salalcu.org, and we may include you in our next News You Can Use!
6. Leverage good credit. If you’ve got a great or even good credit score, you may have more power than you realize. Call your credit card issuers and try to negotiate a better rate or a waiver of your annual fee. Consider refinancing existing loans such as auto loans or mortgages. If you might get a significantly lower rate, it’s worth doing the research. Talk to your financial institution or other trusted financial advisor for guidance. Salal will soon be introducing a line of new credit cards with highly competitive rates; check our website, salalcu.org, for details!
7. Reward yourself. Yes, you heard that right. Most of us stay on track better if we have treats to look forward to, even if those treats are modest. Motley Fools has a great worksheet that helps you set goals with “mini-rewards” along the way. And remember the biggest reward of all: saying goodbye to debt!

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It may not seem like it now, but spring is coming and with it come the warmer weather, longer days and spring fever! When the urge to get up and go hits, you can be ready: from now through the end of February 2012, Salal is offering a great rate on auto loan purchases and refinances. Apply by February 29, and you could get an additional 2% discount off the lowest auto loan APR* you qualify for! And to make this deal even sweeter, we’ll include a $100 Shell gas card!

With Salal’s already low auto loan rates, plus a 2% rate discount and a $100 Shell gas card, you could be sitting pretty in the driver’s seat of your dream car. Click here for more information on how to beat back the winter blues!

 *APR = Annual Percentage Rate. All Salal loans are subject to credit approval. The following restrictions apply: minimum 2.99% APR; the original loan cannot be with Salal; the loan must be completed; this offer is not valid with any other offer including Salal Rewards Points. The $100 gas card offer may be subject to IRS reporting and may be reflected on your 1099. Automatic payment required; otherwise, the amount of the 2% discount is reduced by 0.25%. We’re sorry—no cash-out allowed.

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Salal has recently partnered with an exciting company to provide an incentive for our members to switch to eStatements. We’re excited about this partnership and want to share the news, especially with our members who have not yet opted for eStatements!

TisBest is a company based in Seattle which makes charitable giving truly simple and secure. Looking for a gift for the friend or relative who has everything? How about giving the gift of giving? A customer of TisBest can purchase, for example, a $5 gift card to give to a friend or business associate. The recipient goes online to TisBest.org and chooses a charity to gift with the $5. With over 250 charities available, including organizations that help children, animals, the environment, the homeless and more, everyone can find a charitable organization that fits.

We think the TisBest giving model matches Salal Credit Union’s philosophy of giving back, and we’re offering a $5 eGift card for any Salal member who signs up to receive eStatements instead of paper. And so many benefit: members get more secure and convenient eStatements; the credit union membership pays less for printing and postage; the environment is healthier when no paper is required, and worthy charitable organizations receive donations from the TisBest gift cards!

Learn more about TisBest by visiting their website. If you haven’t already chosen eStatements over paper, now’s the time! You can request eStatements by signing on to Salal’s Online Banking from our homepage and selecting “eStatements” from the left-side navigation. You’ll receive your TisBest eGift Card via email within 45 days. Go “green” and do good!

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The search for a new CEO for Salal continues, and your Board wanted to give you an update on our progress. We’ve done a preliminary review of many excellent candidates, and we’ve narrowed the list down to a few we feel are truly exceptional. It will likely take multiple rounds of interviews to ensure we choose the best possible person to lead our Credit Union; we plan on starting the first interview phase at the end of January.

We appreciate the patience and support of Salal’s membership and staff during this transition period.  Choosing a new CEO is a very important decision, and we thank you for giving us the time we need to choose well.

Alan Lederman
Board Chair

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Update. They’re not from King County eCommerce, either. Read more here.

Bogus emails pretending to be from Puget Sound Energy, or PSE, are showing up in inboxes across the country. Puget Sound Energy issued a warning today not to open emails that appear to be from PSE and are addressed “Dear Customer.”  They most likely contain a link to malware or an unofficial website that will attempt to obtain your personal information. Remember, if you have doubts about an unsolicited email or link, you can call PSE or any other company with which you do business to verify an email–simply use the phone number on your bill. These scams must be working or else the scammers wouldn’t bother, but if you’re vigilant and cautious, theoretically, you can live happily ever after.

You can find more energy on the Puget Sound Energy website.

Happily Holidays from Captain Safety!

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You know how great it is to be a member of Salal Credit Union. Now, share the love, and if your friend or co-worker becomes a new Salal member (with a checking account and direct deposit), both of you could earn a $25 cash bonus.* It’s easy!

Let your friends and co-workers know about Salal and you could be rewarded by Salal and loved by your friends!

Click here for a brochure to fill out and give to a friend.

*All Salal accounts are subject to approval. A minimum deposit of $25 is required to open a new checking account. For Salal’s Silver Horizons checking, the annual percentage yield as of November 1, 2011 is 0.25% for balances of $5,000 to $24,999 and 0.40% for balances of $25,000 and over. Fees could reduce earnings on the account.

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