You won’t be getting your birthday card from Salal CU anymore, but it’s not because we don’t care! We do care, and that’s why we’ve decided to redirect our birthday card budget to promote healthy causes in our community. Birthday cards are nice, we know, but we know our members like supporting good causes even more!

The idea to replace the cards with a charitable contribution came from one of our members. We appreciate feedback and suggestions that help us truly make Salal your credit union—owned by members, governed by members, acting in ways that make our members proud to belong. Please continue to pass along your thoughts on how to make Salal CU the best credit union it can be.

And don’t forget, if you want to increase your charitable giving, you can still make donations to our three healthcare organizations: Mary Mahoney Professional Nurses Organization, King County Nurses Association and HealthPoint. Donate $10 or more, and you’ll receive a lovely, Salal-branded gift of your choice, like our beautiful, member-created calendars, now available in our branches !

If you are unable to get to a branch, you can also request a calendar by sending a check for $10 (or more, but at least $10 per calendar requested) to Salal Credit Union, PO Box 19340, Seattle, WA 98109, Attn: Marketing. Just let us know you’d like a calendar and which of our three recipient organizations you’d like your donation to benefit. You can also contact Shannon at news@salalcu.org for details. And remember, 100% of your contribution goes to our fundraising recipients.

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Increasingly complex financial instruments and plans, a large aging population, and difficult economic times: add them together and they’re a recipe for elder financial abuse. A survey by Investor Protection Trust puts the number of victims in the US at 7.3 million Americans—one in five US residents aged 65 or older.

There’s help. Consumer Reports recently reported on a new service established to fight the rise in financial fraud against seniors as several organizations have come together to establish a new national hotline. Now there are three toll-free numbers seniors, concerned friends and family members can call to get information, advice and help:

General Finance Questions (888.227.1776)

Staffed by experts from the Financial Planning Association, this hotline provides seniors with answers to general financial questions. Get information on protecting yourself and your assets, find a financial professional to help with planning, and, if necessary, have some professional backup in difficult financial conversations with family members.

Financial Abuse Questions (888.303.3297)

Dialing this number gets you to a staff member of Adult Protective Services (APS). APS professionals can share information on the ways elder financial abuse is perpetrated and strategies a senior or a senior’s caretaker can use to prevent such abuse. If a senior is already being victimized, the APS professional can discuss next steps for ending the exploitation.

Medical Questions (888.303.0430)

This hotline is staffed by health care professionals who can help seniors gauge their level of vulnerability to abuse. If seniors are experiencing mild cognitive impairment, they may not be able to make the best financial decisions or properly protect themselves from financial fraud. Health care professionals at this number may suggest avenues for further medical screening of a potentially at-risk senior.

Financial fraud may be perpetrated by a stranger, or it may come from a trusted family member or friend, but seniors can take steps to protect themselves. If you believe you or someone you love is a victim of elder financial fraud, please seek help. More information and resources can be found at the US Administration on Aging’s website, the National Center on Elder Abuse.

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This article courtesy of Washington Energy Services

Just a few simple tasks, like maintaining your heating equipment, can have a positive impact on your energy bills. If you have a furnace or heat pump, you can take these easy steps and help lower your costs this fall.  

Winter Warmth Checklist:  

1. Furnace owners, clean those filters! Electronic air cleaners should be cleaned every month. Hybrid electronic or replaceable media filters should be checked every three months and changed at least every six months. Dirty filters alone can reduce energy efficiency by up to 40%.
2. Make sure all of your heating vents and air return vents are open and cleared of any furniture, boxes, curtains and rugs. Outdoor heat pump units should be cleared of leaves or debris.
3. Heating and cooling equipment work best when maintenance is performed annually before the cold weather hits. A maintenance “tune up” will save energy and prolong the life of your home comfort system. Generators also benefit from maintenance. They need to be ready to perform if (when?) the wind and weather strike.

You can put your maintenance on autopilot with a maintenance contract from a reputable contractor. A technician will come to your home to test and inspect your system, fixing minor issues before they turn into major problems. They will also do any needed filter cleaning and perform an overall “tune up.” This tune up is also a great time to have your ducts cleaned, improving the air quality inside your home.

For more information on obtaining professional maintenance service, visit Washington Energy.

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Mobile banking puts the power of your credit union branch right in your pocket. Now Salal CU members can use their smart phones (and soon, their PCs) to transfer money from one account to another—even if the accounts are at different credit unions—or check credit card balances, account balances, even  the date and amount due on your next loan payment! Wondering if you have enough in your checking account to cover the purchase you’re about to make with your debit card? No worries! Just text the letters “BAL,” and get your real-time balance right away.*

Sprig™ is a new feature brought to you by the same folks who bring you the Shared Branching network: FSCC and CU Swirl. The services offered by Sprig are comprehensive, easy to use and secure. Members create a “wallet” on Sprig—a list of all credit union accounts and products from all participating CUs. Once your accounts are entered, you can see them all on your Smart Phone, any time, and conduct many of the same financial functions available at a Shared Branch:

• transfers,
• balance inquiries,
• loan payments,
• payment history,
• locate a physical branch near you, etc.
• Soon, you’ll even be able to take a photo of a check and deposit it remotely!

Best of all: all Sprig services are free (though text messaging rates may still apply; check with your cell service carrier).

For more information or to register, Salal members can go to getsprig.com. At this site, you can download the mobile app to an iPhone, iPad or Android phone or get information on text banking. If you’re ready to set up your “wallet,” select “New Registration.” You’ll need to select “S” and then “Salal CU.” Please read the Terms and Conditions carefully to ensure you’re comfortable with all the terms of this service. If you elect to continue, you’ll be asked for your full name, account number and identifying information such as your Social Security number and zip code.

If you have any difficulty with the Sprig program, you can contact FSCC for assistance. Click the “support” button on the getsprig.com website, or you can call or email FSCC at 888.221.9660 or app@sprigmobile.com.

*Sprig is offered to Salal CU members as a service of the Shared Branching network. Salal CU is not responsible for the content or security of this website and cannot guarantee the safety of information provided to Sprig by members.

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We’ve all heard the stories of the great deals buyers are getting in the housing market: houses that were formerly out of reach are now selling at a price “normal” folks can afford. And housing prices have definitely come down—31% since 2006, according to a recent article in Bloomberg Businessweek. With mortgage rates continuing at or near historic lows, as economist Dean Baker says, “It’s hard to see the possibility of losing on a home purchase right now.”¹

Is it wise to play the waiting game?
The decline in housing costs has led many would-be home buyers to hesitate, assuming prices will continue to fall. And they may, though potential borrowers should weigh the possible drop in prices against an almost certain rise in mortgage rates. Add to that the nationwide increase in rental rates, and the waiting game starts to look risky.

Here’s where mortgage math comes in: if a buyer were to purchase a $300,000 home with a 4% mortgage, assuming she put 20% down, her monthly mortgage payment would be $1,145. That same home at $289,000 with a 4.5% mortgage rate—a mere half-point increase—will cost her $1,171 a month. Over the life of her loan, that “cheaper” purchase price will likely end up costing her money. The lesson? For those with good credit ratings and money available for a down payment, right now may be the best time we’ll see for a long time to buy a home.

If you’ve done your mortgage math and decided now is the right time for you, or if you could use a little expert assistance in making that determination, Salal CU has the best resource to help: our Senior Residential Mortgage Loan Officer, Jeff Van Nostran, is here to work with you. You can contact him at jeffv@salalcu.org or at 206.852.8412 to make a one-on-one appointment or just ask questions. Don’t wait until it’s too late!

^1″Epic Home Deals Await the Creditworthy.” Kathleen M. Howley, Bloomberg Businessweek, October 17-October 23, 2011.

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Members chosen at random by our external auditors, Moss Adams, may receive a letter from Salal CU asking for confirmation of the account balance referenced.

If you received a letter regarding a Salal loan, the loan rate given may be incorrect. You will receive a corrected letter soon.

This letter is legitimate; please confirm the information and return in the envelope provided. If you have questions or concerns, please contact Larae Jensen, Internal Auditor, at 800.562.5515 x 7616.

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From Salal’s own Financial Superhero, Captain Safety:

Boo! Halloween is over, but there are still some spooky things my readers need to know.

According to this article on Fox Business, an estimated 10 million Americans are victims of Identity Theft every year! So, it’s important for everyone to protect their personal information and be careful how much information they provide on Facebook, LinkedIn, and other social networking platforms.

This article illustrates just how identity thieves could potentially piece together enough info about folks to rip them off. So:

• Remember to set your Facebook to “private,” so that only friends can view your profile.
• It may not be a good idea to list your birthday (even though you’ll miss all of those birthday wishes, sorry).
• And don’t “friend” people you don’t know or don’t have any reason to be friends with.

It sounds antisocial, but as this article explains that when given a Social Security number, criminals can piece the rest of your information together: name, birthday, pet’s name, family members, location, place of employment, alma mater, favorite food, etc. Then they could potentially log on to Ancestry.com and obtain the magic bullet: Mother’s Maiden Name.

I’m not trying to scare anyone, so don’t be scared, just be smart!

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Be approved for a Salal CU new or refinanced auto loan now through November 30, 2011, and get a 2% discount off our already low rates—you could qualify for a discounted rate as low as 1.99% APR.¹

Getting a great rate with Salal is easy:

• Apply for an auto loan by November 30, 2011.
• If you’re approved for the loan, you have 30 days from the date of approval to make a purchase.

It’s just that simple!

¹APR = Annual Percentage Rate. All Salal loans are subject to approval. This offer not valid with any other offer including Salal Rewards Points. Existing Salal loans are not eligible. We’re sorry—no cash-outs allowed. The 2% rate discount requires automatic payment; otherwise, rate will be increased by 0.25%.

Promo Code: Loan Pocket Offer

This credit union is federally insured by the National Credit Union Administration.

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According to the American Diabetes Association, 8.3% of Americans—that’s 25.8 million children and adults—have diabetes. Nearly a quarter of them don’t even know it. There may be as many as 79 million Americans who are prediabetic and in danger of developing the disease. Diabetes and complications of diabetes claimed nearly a quarter of a million lives in 2007, and the number of new diagnoses is on the rise.

In honor of World Diabetes Day, November 14, Salal CU is partnering with the Living Well Alliance™ (a partnership of Pacific Medical Centers, Premera Blue Cross and the American Diabetes Association) to provide free, confidential diabetes screening at two of our branches.* The screening includes blood pressure, blood glucose and BMI (Body Mass Index). If you think you may be at risk for the disease, please schedule an appointment or drop by during testing times. This screening is open to our members and the public.

• Lake Union, 310 Westlake Ave. N, Seattle, 11 am – 12 pm
• Northgate, 11023 8^th Ave NE, 1 pm – 2 pm

Results are immediate, and a PacMed diabetes educator will be on hand to review your results with you and answer any questions.

Diabetes is a serious disease, but with care, diabetes can be managed and those with the disease can go on to live long, healthy lives. To schedule your appointment, email us at news@salalcu.org.

*The Living Well Alliance™ is a trademark of Pacific Medical Centers.

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If you’re considering changing to a new financial institution (FI), here are some tips to help you switch safely!

Ask your new FI if they provide a “Switch Kit.” This should provide all the steps you’ll need to take, as well as useful information such as the FI’s routing number, prefilled on the forms.

Open your new savings and/or checking account at your new FI. Make sure you verify with the teller or Finance Rep what your new account number is and what the FI’s routing number is. You’ll need this information later.

Establish Direct Deposit at your new FI. Do this early, as it can take a week or two, depending on your employer and how often you get paid. To do this, you’ll need to provide your employer with

• The routing number of your new FI
• Your account number for the account you want the money flowing in to. Often you can split your pay into more than one account: checking for your bills and expenses, savings for your future!

Get set up in Online Banking at your new FI. This is useful because you can monitor your new account to make sure your direct deposit is coming in and your bill payments and debits are going out—in that order!

Order checks and a debit card from your new FI. As soon as you receive these, stop using the ones from your old FI and securely destroy (shred) your old debit card and checks to prevent fraud.

Transfer all automatic payments/bill pays. Make a list of all payees attached to your old account: cable, cell phone, mortgage or auto payments, credit card, utilities, etc. You can switch all these to your new account by informing the payees (e.g. Verizon, Comcast) online at their websites or by phone. You’ll need to provide them with your new account number. Monitor both your old and new accounts to make sure the switches are happening correctly.

Watch your old account to be sure all checks have cleared and all debits have been debited before you close your accounts. You should leave a “slush fund” in here for 2-3 weeks, just to be safe. Once that account has been without activity for a period of two weeks, it’s probably safe to close.

Useful information: if you need your checking account number and/or your FI’s routing number, those can be found at the bottom of your checks: the first nine digits are the routing number for the FI; the next group of digits is your checking account number, and the final group of digits (usually four) represents the number of the check (you can generally ignore these).

Salal CU has a switch kit on line, but if you want personal assistance, you’re welcome to call or drop by a branch. Remember—anyone who lives, works or worships in the state of Washington is eligible to join Salal! If you’re not in Washington State but you’re interested in joining a credit union, you can find one here.

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