Nonprofit · EIN 91-0593941
SALAL CREDIT UNION
Tax-exempt · SEATTLE, WA 98175
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $76,210,438 | $74,738,083 | $1,472,355 | $1,177,190,511 | $1,086,382,445 | $90,808,066 |
| December 31, 2023 | 990 | $74,965,948 | $68,206,763 | $6,759,185 | $1,217,780,482 | $1,129,375,823 | $88,404,659 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $68,946,767
- Investment income
- $6,637,232
- Net rental income
- $609,642
- Net gain from sales of assets
- $1,100
- Other revenue
- $626,439
Expenses
- Grants and similar amounts paid
- $60,000
- Compensation of officers, directors and key employees
- $5,293,088
- Other salaries and wages
- $18,522,927
- Salaries, compensation and benefits (total)
- $29,558,263
- Professional fundraising fees
- $0
- Legal fees
- $807,202
- Accounting fees
- $402,220
- Occupancy
- $1,777,746
- Travel
- $312,025
- Depreciation
- $1,980,835
Balance sheet and other
- Total assets, start of year
- $1,217,780,482
- Total assets, end of year
- $1,177,190,511
- Total liabilities, end of year
- $1,086,382,445
- Net assets, end of year
- $90,808,066
- Land, buildings and equipment
- $26,240,710
- Publicly traded securities
- $125,491,154
- Gross unrelated business income
- $204,453
- Gross receipts
- $77,602,041
- Employees
- 261
- Volunteers
- 6
- Year formed
- 1948
- State of legal domicile
- WA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUSSELL E ROSENDAL | PRESIDENT/CEO Officer | 40 | $1,541,011 | $45,621 |
| ROBERT W SCHWEIGERT | SVP - CHIEF LENDING OFFICER Officer | 40 | $324,344 | $35,538 |
| RANDY WILLIAM CLOES | SVP - CFO Officer | 40 | $319,358 | $37,878 |
| TROY-SKOTT POPE | SVP - CHIEF DIGITAL/STRATEGY OFFICER Officer | 40 | $321,322 | $20,695 |
| JUDY LOVELESS-MORRIS | SVP - CHIEF DIVERSITY & PEOPLE Officer | 40 | $310,103 | $19,940 |
| BRETT BALLMAN | VP - DIRECTOR OF BUSINESS Key employee | 40 | $238,103 | $10,490 |
| SAMANTHA HARBERT | FVP - HOME LENDING & RETAIL Key employee | 40 | $224,118 | $17,935 |
| CHRISTIAN GRUNERT | FVP - INFORMATION TECHNOLOGY Key employee | 40 | $216,238 | $21,202 |
| KARI STENSLIE | VP - CONTROLLER Key employee | 40 | $208,569 | $21,468 |
| MATTHEW W VANCE | VP - MARKETING & PROD. DEVELOPMENT Key employee | 40 | $188,204 | $41,466 |
| MUNZER J SUKHUN | VP - BUSINESS SERVICES Key employee | 40 | $185,521 | $28,474 |
| MATTHEW HEITLAND | VP - APPLICATION DEVELOPMENT Highest-paid employee | 40 | $187,878 | $20,025 |
| KEITH PRICE | SENIOR MANAGER OF DATA STRATEGY Highest-paid employee | 40 | $188,165 | $10,349 |
| KEVIN KNOWLES | VP - CREDIT ADMINISTRATION Key employee | 40 | $174,648 | $22,331 |
| SYLVIA POPE | VP - PROGRAM MANAGEMENT Key employee | 40 | $169,514 | $27,263 |
15 more people on this return
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAMES A MILLSAP | DEALER DIRECT ACCOUNT MANAGER Highest-paid employee | 40 | $173,121 | $18,676 |
| ANGELA RAHAM | SENIOR MANAGER OF BUSINESS BANKING Key employee | 40 | $152,908 | $38,401 |
| NANETTE COURTNEY SENIOR | MGR FINANCIAL CRIMES & BSA OFFICE Key employee | 40 | $162,113 | $24,273 |
| MEGAN DESILVA | DEALER DIRECT SALES MANAGER Highest-paid employee | 40 | $144,692 | $37,843 |
| PHILLIP FALCK | SENIOR PROJECT MANAGER Highest-paid employee | 40 | $143,951 | $20,752 |
| EILEEN MAGNUSSON VP DIR OF | HUMAN RESOURCES (THRU 07/24) Former | 40 | $103,359 | $17,680 |
| BRIAN LUONG | BOARD CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| ALAN LEDERMAN | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| CATHERINE BAILEY | BOARD SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 |
| SOPHIE BROUGHAM | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| NISHAT AKHTER | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| QUYNH NGUYEN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| LAURA MCMILLAN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| KAREN SCHARTMAN | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
| MAGNUS ANDERSSON | BOARD MEMBER Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RUSSELL E ROSENDAL | PRESIDENT/CEO Officer | 40 | $1,381,803 | $42,177 |
| ROBERT W SCHWEIGERT | SVP - CHIEF LENDING OFFICER Officer | 40 | $288,023 | $29,448 |
| RANDY WILLIAM CLOES | SVP - CFO Officer | 40 | $282,860 | $30,080 |
| TROY-SKOTT POPE | SVP - CHIEF DIGITAL & STRATGEY OFFICER Officer | 40 | $286,569 | $16,967 |
| JUDY LOVELESS-MORRIS | SVP - CHIEF DIVERSITY & PEOPLE Officer | 40 | $270,721 | $26,602 |
| JAMES A MILLSAP | DEALER DIRECT ACCOUNT MANAGER Highest-paid employee | 40 | $202,172 | $18,759 |
| BRETT BALLMAN | VP - DIRECTOR OF BUSINESS BANKING Key employee | 40 | $210,679 | $6,606 |
| SAMANTHA HARBERT | FVP - HOME LENDING & RETAIL BANKING Key employee | 40 | $189,532 | $18,922 |
| KARI STENSLIE | VP - CONTROLLER Key employee | 40 | $187,672 | $17,419 |
| CHRISTIAN GRUNERT | FVP - INFORMATION TECHNOLOGY Key employee | 40 | $172,248 | $29,286 |
| MATTHEW W VANCE | VP - MARKETING & PROD. DEVELOPMENT Key employee | 40 | $157,371 | $39,096 |
| MEGAN DESILVA | DEALER DIRECT SALES MANAGER Highest-paid employee | 40 | $150,012 | $38,649 |
| EILEEN MAGNUSSON | VP - DIRECTOR HUMAN RESOURCES Key employee | 40 | $154,103 | $32,337 |
| MUNZER J SUKHUN | VP - BUSINESS SERVICES Key employee | 40 | $159,169 | $25,064 |
| KEVIN KNOWLES | VP - CREDIT ADMINISTRATION Highest-paid employee | 40 | $147,538 | $33,668 |
| KEITH PRICE | SENIOR MANAGER OF DATA STRATEGY & ANALYTICS Highest-paid employee | 40 | $162,206 | $16,326 |
| MATTHEW HEITLAND | IT STRATEGY & INNOVATION SVP - APPLICATION DEVELOP Highest-paid employee | 40 | $158,341 | $18,349 |
| SYLVIA POPE | VP - PROGRAM MANAGEMENT Key employee | 40 | $152,058 | $16,931 |
| BRIAN LUONG | BOARD CHAIR Trustee or director, Officer | 1.38 | $0 | $0 |
| ALAN LEDERMAN | VICE CHAIR Trustee or director, Officer | 1.38 | $0 | $0 |
| CATHERINE BAILEY | BOARD SECRETARY Trustee or director, Officer | 1.38 | $0 | $0 |
| DICK WOO | BOARD MEMBER Trustee or director | 0.75 | $0 | $0 |
| SOPHIE BROUGHAM | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| NISHAT AKHTER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| QUYNH NGUYEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALI SEALS | BOARD MEMBER (THRU 12/23) Trustee or director | 1 | $0 | $0 |
| JOHN ZIELONKA | BOARD MEMBER (THRU 12/23) Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 75029, SEATTLE, WA 98175-0029
- Principal officer (990 for 2024)
- RUSSELL E ROSENDAL, 9706 4TH AVENUE NE 400, SEATTLE, WA 98115
- Signed the 990
- RUSSELL E ROSENDAL, PRESIDENT/CEO
- Phone
- (206) 298-9394
- Website
- WWW.SALALCU.ORG
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
WE ELIMINATE FINANCIAL OBSTACLES TO HELP EVERYDAY VISIONARIES REALIZE THEIR FULL POTENTIAL.
Program accomplishments
- SALAL CREDIT UNION IS A STATE CHARTERED NON-PROFIT COOPERATIVE CREDIT UNION OFFERING ITS MEMBERS A VARIETY OF FINANCIAL SERVICES DESIGNED TO PROMOTE SAVING AND PROVIDE CREDIT AT FAIR AND REASONABLE RATES OF INTEREST. SALAL CREDIT UNION CURRENTLY SERVES 60,000 MEMBERS; HOWEVER THERE ARE APPROXIMATELY 4,000,000 POTENTIAL MEMBERS IN THE GREATER PUGET SOUND COMMUNITY.
- SALAL CREDIT UNION OFFERS FINANCIAL LITERACY/EDUCATION PROGRAMS THROUGH BALANCE FINANCIAL FITNESS PROGRAM TO MEMBERS AND EMPLOYEES. THESE EDUCATIONAL PROGRAMS ARE DESIGNED TO HELP INDIVIDUALS IN BUDGETING, SAVING FOR MAJOR PURCHASES, COLLEGE, AND RETIREMENT AND OVERALL FINANCIAL MANAGEMENT.
- SALAL CREDIT UNION IS ACTIVE IN THE COMMUNITY BY CONTRIBUTING TO THE FUNDRAISING EFFORTS OF SEVERAL WORTHWHILE ORGANIZATIONS SUCH AS HEALTHPOINT, INTERNATIONAL COMMUNITY HEALTH SERVICES (ICHS), NORTHWEST CREDIT UNION FOUNDATION, NORTHWEST HARVEST, AND KING COUNTY NURSES ASSOCIATION. SALAL CREDIT UNION ALSO PROVIDES MATCHING CONTRIBUTIONS FOR EMPLOYEES AND DIRECTORS TO APPROVED 501(C)(3) ORGANIZATIONS UP TO $500 PER YEAR.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 91-0593941
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Exempt since
- 1954
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Group exemption
- 1269: CREDIT UNIONS IN THE STATE OF WASHINGTON
- Assets (IRS master file)
- $1,177,190,511
- Income (IRS master file)
- $77,602,041
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $76,210,438 | $74,738,083 | $1,177,190,511 | XML |
| 990 | December 2023 | $74,965,948 | $68,206,763 | $1,217,780,482 | XML |
| 990 | December 2022 | $63,361,594 | $57,114,018 | $1,278,954,143 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 91-0593941).
Questions about SALAL CREDIT UNION
- What is the EIN of SALAL CREDIT UNION?
- The employer identification number (EIN) of SALAL CREDIT UNION is 91-0593941.
- Is SALAL CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14) since 1954.
- Are donations to SALAL CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SALAL CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SALAL CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SALAL CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SALAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 names RUSSELL E ROSENDAL.
- Who are the officers and directors of SALAL CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 30 people; 21 received compensation from the organization, the highest $1,541,011 (RUSSELL E ROSENDAL, PRESIDENT/CEO).
- How much revenue does SALAL CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $76,210,438, expenses of $74,738,083 and total assets of $1,177,190,511 at year end.
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