You bank with Salal Credit Union, so clearly you’re careful with your money. Chances are you have a retirement plan, home and life insurance and an emergency fund. Now that you’ve protected your home, family and future, you might want to consider some protection for your car.

GAP or “Guaranteed Auto Protection” insurance isn’t exactly protection for your car—it’s protection for you, should your car be stolen or totaled before you’ve finished paying for it. Your auto insurance will generally only pay you what your car is currently worth, which, in today’s challenged economy, may be less than you think. If your insurance doesn’t cover the amount you still owe, you could be on the hook to fill in the “gap.”

GAP insurance could save you thousands. Salal makes it easy to get both the protection and peace of mind: if you purchase a car with Salal or refinance an existing, non-Salal auto loan, from now through November 15, 2012, Salal will provide you with GAP insurance—FREE—a $349 value!¹

Eligible borrowers can enjoy an auto loan with an APR² as low as 2.99%, plus the comfort GAP insurance provides. Call Salal at 800.562.5515 (206.298.9394 locally), visit our website, or drop by your branch for more information.

¹All Salal loans are subject to credit approval. The following restrictions apply: minimum 2.99% APR; the original loan cannot be with Salal; this offer is not valid with any other offer including Salal Rewards Points. Automatic payment required; otherwise, the APR is increased by 0.25%. No cash-out allowed. Promo Code: Loan Pocket Offer  

²APR=Annual Percentage Rate

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After skin cancer, breast cancer is the most common cancer among women. It’s estimated that 200,000 women will be diagnosed with the disease in 2012, and 40,000 will die. Breast cancer is a formidable enemy. But every day women—and men—fight the disease and win.

The best weapon against breast cancer is early detection. At Salal CU, we care about our members, so we urge everyone to please educate yourselves about this disease and take steps to protect yourselves. Get regular exams if you are a woman over 40, or if you have any of the major risk factors for the disease. Maintain a healthy weight and get regular exercise. Limit drinking, quit smoking, and perform self-exams regularly.

You can find more information about breast cancer and the risk factors, symptoms and treatments at the National Breast Cancer Foundation, Inc: http://www.nationalbreastcancer.org/default.aspx.

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 It’s true—at Salal, we aim to make every member feel like a “Big Wheel” with great rates, the right products, and exceptional personal service. If you’re tired of less-than-stellar service at your current financial institution, let Salal take your banking to new heights!

 From now through October 31, 2012, if you open a Salal checking with direct deposit, you could receive $100 and two tickets to Seattle’s Great Wheel!¹

Don’t forget, we offer FREE checking with My Checking—only $25 to open, no minimum balance to maintain, free access to our Online Banking and Bill Pay, a free debit card, no per-check charges or fees from Salal for using a non-Salal ATM.

Open your My Checking by October 31, 2012 for free checking, $100, and a chance to enjoy one of Seattle’s greatest delights! Oh, and you’ll get to ride the Great Wheel too….

 ¹Offer good on new checking accounts opened August 15 through October 31, 2012. Limit one per household. Cannot have had a Salal checking in prior 6 months. To be eligible for the $100 deposit, the checking account must be open at least 90 days and be in good standing; at least one direct deposit must occur within the initial 90 days. Deposits will be made to eligible accounts in December 2012/January 2013. This special cash offer and ticket value are subject to IRS reporting and will be reflected on your 1099. Available on all consumer checking. For Silver Horizons, the annual percentage yield as of August 1, 2012 is 0.05% for balances of $5,000 to $24,999 and 0.08% for balances of $25,000 and over. Fees could reduce the earnings on the account. A minimum of $25 is required to open a Salal checking. All Salal accounts are subject to approval. Promo Code: Big Wheel

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Salal Credit Union is governed by a Board of Directors with direct input and assistance from several committees, all comprised of CU member-volunteers and staff. Serving on a committee is a great way to have a direct impact on the direction and focus of your Credit Union, and many committee members go on to become Board members.

Salal currently has one opening on its Supervisory Committee. This team is tasked with overseeing the practices of the Credit Union to ensure that all members’ assets are safeguarded and used appropriately. There are three positions open on Salal’s Board of Directors. Our Board, in cooperation with Salal’s Senior Management Team, is responsible for providing strategic guidance and governance for the Credit Union.

If you would be interested in volunteering for a position, please let Salal know of your interest by sending a letter to Salal CU Governance Committee, PO Box 19340, Seattle, WA 98109-1340, by November 30, 2012. You can also email us at news@salalcu.org.

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No matter where you are, you’re never far from your funds when you’re a Salal CU member. If you can’t get to your regular branch, we have options for you to get your important financial business done—conveniently and securely.

• Shared Branching. Salal CU participates in the Shared Branching network, which means our members enjoy the benefit of 6,800 Shared Branching locations nationwide. Find the nearest Shared Branch from our website, salalcu.org. Just enter your location’s ZIP Code in the “Branch and ATM Locator” box on our homepage.
• Many 7-Elevens nationwide host a Vcom® machine; Salal members can use them fee-free!
• CO-OP Network. Salal CU belongs to the CO-OP Network, so our members enjoy the convenience of having access to nearly 30,000 fee-free ATMs nationwide! Find the one nearest you by typing your ZIP Code into the “Branch and ATM Locator” box on our homepage, salalcu.org.
• Online Banking and Bill Pay. Our Online Banking and Bill Pay are available 24/7/365, anywhere you have Internet access. Check balances, transfer funds, pay bills, track spending: it’s easy, secure and free to Salal members. 
• Salal Virtual Branch. Salal’s friendly, expert call center staff are available to help members Monday to Friday, 8 am to 5:30 pm, and Saturday from 10 am to 2 pm. Call 800.562.5515 or 206.298.9394 for the help you need.
• Salal Phone Access Line (PAL). Salal’s PAL is available day or night, 365 days a year; just call 800.562.5515 or 206.298.9394 and press 1. If you’ve never called Salal PAL before, please call the Virtual Branch during business hours for an access code. Check balances, transfer funds, order checks, and more, free!
• Salal’s Mobile Banking app. Coming soon—stay tuned!

We know you love your Salal branch staff; they know your name and always provide great service. But if you travel a lot, it’s a comfort to know you can still conduct your financial business, safely and at your convenience, when you’re on the road. If you have a story about accessing your Salal accounts from somewhere unusual—while hiking, perhaps, or from a foreign country—we’d love to hear it! Share your story on our Facebook page: facebook.com/salalcu.

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• Set up a monthly automatic transfer from your checking to your savings or Premium Plus Money Market. Studies show those of us who transfer money immediately and automatically are likely to save more. You can do this easily with Salal’s Online Banking.
• Establish alerts on your accounts to help you avoid paying late fees or insufficient funds fees. With our online Bill Pay, you can request notification when an eBill arrives for payment. From Online Banking, set a low-balance alert to warn you when funds in your checking account are below an amount you designate.
• Check your credit report! You can do this for free once a year from annualcreditreport.com. Check for errors, and if you find one, have it corrected. Incorrect information—whether error or evidence of fraud—can make it difficult to get the credit you deserve.

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I admit it—I love autumn. I relish the snap in the air, the changing leaves, football on the TV and the chance to rest a bit after a busy summer. That lasts maybe a week. Then my wife and I start to notice the living room could use a new coat of paint, the front hall carpet’s looking ragged, and the dishwasher’s been making an ominous rumbling sound. Just like that, we’re into our Fall Projects.

If you’re like us, and nature’s seasonal changes prompt you to make some changes too, I hope you’ll consider letting Salal CU help you fund those fixes.* If  you haven’t looked at your mortgage in awhile, call one of Salal’s Residential Loan Specialists and see if a refinance could reduce your monthly payments and the total interest you’ll pay over the life of your loan. Rates are still very low, and with the legislative changes to the Home Affordable Refinance Program (HARP), Salal is able to offer refinances to a wider range of home owners, even many who owe more on their loan than their home is currently worth.

Maybe now isn’t the time for a refinance, but you still have projects to do. For smaller projects, our credit cards may provide the perfect financing: our rates are extremely competitive, and if you have a Salal Rewards card, you can earn points as you go. For bigger projects, a home equity loan or line of credit can make funds available to you at a low rate. With a Salal home equity line of credit, you can have the new hot water heater or ready your home for winter for far less than it would cost with a higher-rate credit card. Increase the value of your home and enjoy the pleasures of your improvements without emptying your emergency fund or incurring high interest charges.

Back to school, the holiday season: for many of us, fall and winter can be expensive, even if you’re not doing major projects at home. A realistic family budget can keep costs from piling up on you, so take the time to consult with a Salal staff member about the tools, tips and training we can provide to help you keep your financial house in order.

Whatever you need to do to your home—big projects and small—Salal can help you fund it the best possible way. Give us a call, and we’ll talk with you about your options. As for me, I’ll be installing new cabinets this fall. Just as soon as the Husky game is over.

*Salal loans are subject to credit approval.

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Well, . . . no. You’re a newly minted adult, the ink still fresh on your diploma, ready to take on the challenges and responsibilities of adulthood. At Salal, we know you’re up to the task, but we want you to have every tool you need to be a success. So here are Salal’s Top Three Financial Tips for Young Adults that might come in useful:

1. Budget. Yes, we know it can be a chore to list out all your expenses and income and try to negotiate the two, but there are online tools to help you get organized. Salal CU partners with BALANCE, a financial management counseling service, who provide a very extensive Money Management Planner  to help you prepare for your financial future. In fact, explore the whole website while you’re there—it’s full of great resources and information. And it’s free to Salal members!
2. Got Debt? Be disciplined about paying it back. Start with your highest-interest-rate debt first, since that’s your most expensive. Pay more than the minimum each month you can, and never pay late. Consider consolidating your debt under a lower rate such as a personal loan or line of credit. Credit cards are great for establishing a credit history, but you need to be careful so you end up with a history that helps rather than hurts you. Take time to talk to someone at your credit union about the options open to you.
3. Be Score Savvy. Speaking of scores, keep in mind your credit score can have enormous impact on you for many years ahead. Renting that awesome apartment, getting that great job, getting an optimal loan rate on a house or car—a shiny credit score can help you get those things. A tarnished score can mean higher costs. Pay your bills on time, every time. Consider different types of credit (revolving, like a credit card and term, like a car loan) to show your skill at handling debt. Keep your debt below a third of your available credit, and don’t close old cards if you don’t have to—having an established credit history can help. If you don’t have credit yet, consider Salal’s Student Visa,¹ with a great rate and no annual fee.²

¹To be eligible for the Salal Student Visa card, applicants must be between 18 and 23 years of age. Applicants younger than 21 must be able to prove ability to repay debt and/or have an income of at least $3,000 per year; otherwise, a co-applicant who is at least 21 years of age will be required.

²Initial Annual Percentage Rate (APR) of 13.25% for our Student Visa; however, your APR will vary with the market based on the Prime Rate. Foreign Transaction Fee of 3% of each transaction in U.S. dollars Information is current as of August 1, 2012 and is subject to change without notice.

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Lending rates have been low for awhile now, and you’ve heard a lot about refinancing a mortgage to save money. Did you know you can do the same with your vehicle loan?

Refinancing an auto loan is quick and easy.* There’s no appraisal required, fees are low if any, and a rate reduction of even a small amount can mean lower monthly payments and big savings in interest.

When should you refi?

Interest rates have dropped. Refinancing at a lower rate can really save you money. For example, a $15,000 auto loan at an Annual Percentage Rate (APR) of 6% for 48 months will cost a little over $350 a month. Refinance to an APR of 3%, and you’ll see a drop of $20 a month—but that’s not all you’ll save. The same auto loan at an APR of 3% will cost you just over $900 in total interest; at an APR of 6%, you’ll pay over $1,900: more than double.**

Your credit score has improved. Maybe your credit score wasn’t perfect when you bought the car, but now, thanks to your responsible financial management, you’re in a position to negotiate to borrow at lower rates. Good behavior with credit is rewarded, so use the advantages your careful spending has earned you!

You found a better rate with another lender. Even people with golden credit don’t always get the best rates. Rate shopping can be time-consuming and confusing, and it’s difficult to know all your options. Thankfully, moving your auto loan from one financial institution to another is generally simple and can save you money. Chances are, your new lender will do most of the heavy lifting for you!

You want to lower your monthly payment. When looking to refinance, consider the term of your loan as well as the rate. Extending your term can lower your monthly payments, which can be a big help in tight times. Consult with your Salal Credit Union representative to determine if you’ll benefit in the long run.

If you think a loan refinance might benefit you, contact Salal CU for more information. You can visit our website, salalcu.org, drop by a branch, or give us a call at 800.562.5515 (206.298.9394 locally).

*All Salal loans are subject to approval.

**APRs used above are for example purposes only.

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Salal Credit Union has a long history of providing products and services to busy healthcare professionals, and we are honored to be a trusted partner for many local healthcare workers and their companies. For the past several years, Salal has extended that support to people who aren’t healthcare professionals…yet.

Every summer, Washington Business Week (WBW) holds a one-week camp for high school students interested in exploring a possible career choice:  students choose a “pathway” that interests them and get real-life experience and mentoring in fields such as Business, Energy, Agri-Business, Manufacturing, and Healthcare. Students spend a week on a university campus, learn from professionals, work on related projects, make lasting friendships and have a great time. Some even leave with their career direction determined or confirmed.

For several years, Salal has provided donations to help students from lower-income families attend the Healthcare camp. We’ve also sent staff to act as counselors and competition judges. And for the last three years, we’ve awarded scholarships to some of the brightest students you’ll find anywhere.

This year, the quality of the applications was so high, we increased our scholarships from two at $2,500 each to three! Our winners were selected on the strength of their essay answer to the question, “Why do I want to pursue a career in healthcare?” plus their GPA, volunteer experience and recommendation from WBW staff. We’re excited to introduce to you this year’s scholarship recipients:

Jessica Liaw Jessica will be a senior at Skyline High School in the fall. In her essay, Jessica talked about an experience she had while serving as a volunteer escort at the UW Medical Center. Her patient seemed angry and unfriendly, but Jessica understood the woman was simply alone and afraid. Jessica’s compassion shone through her essay, and we’re so happy their walk through the hospital corridors became steps on Jessica’s journey to a healthcare career.

Rachel Clark Rachel will also be starting her senior year at Skyline High in the fall. We were just blown away by Rachel’s volunteer experience. At just 8 years old, Rachel lost her mother to cancer. Remarkably, she turned that devastating loss into a mission: she is a teen ambassador for Gilda’s Club, an organization that provides therapy for cancer patients. Every year, she captains a Relay for Life team, raising funds for the American Cancer Society, and she’s a community liaison for the Relay for Life Board.

Siri Machiraju Siri will be starting her junior year at Issaquah High School this fall. Our review team really appreciated the thoughtfulness Siri showed in her essay. It was clear to us that for Siri, a career in healthcare isn’t just the whim of the moment but is a natural part of her desire to help others. She has done volunteer work at Overlake Hospital and other medical centers, and we’re certain her natural curiosity, eagerness to learn and enthusiasm for helping others make her a very valuable volunteer!

Congratulations to Jessica, Rachel, Siri and all the outstanding applicants!

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