Safe Credit Union
- Assets
- $4.5b
- Revenue
- $183.1m
- Investments
- $927.0m
- Employees
- 955
- Location
- Folsom, CA
- Founding
- 09/1961
- Data as of
- 12/2022
- EIN
- 94-1179501
Organization Overview
Safe Credit Union is located in Folsom, CA. The organization was established in 1961. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Safe Credit Union employed 955 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Safe Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2022, Safe Credit Union generated $183.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $149.8m during the year ending 12/2022. While expenses have increased by 5.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Safe Credit Union has awarded 140 individual grants totaling $2,353,782. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SAFE CREDIT UNION'S MISSION IS TO HELP MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING, PROVIDE EXCELLENT SERVICE, AND ENSURE A FINANCIALLY SOUND CREDIT UNION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SAFE HAS SERVED THE SACRAMENTO AREA SINCE 1940, AND NOW HAS MEMBERSHIP SPANNING 13 COUNTIES IN NORTHERN CALIFORNIA. SAFE HAS 20 BRANCHES IN THREE OF THESE COUNTIES: SACRAMENTO, PLACER AND YOLO. SAFE SERVES APPROXIMATELY 234,495 MEMBERS. SAFE OFFERS DEPOSITORY, LENDING AND OTHER FINANCIAL PRODUCTS AND SERVICES TO HELP ITS MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING. AS A NOT FOR PROFIT, SAFE IS ABLE TO DELIVER BENEFITS TO ITS MEMBERSHIP THROUGH LOWER LOAN RATES AND HIGHER DEPOSIT RATES. IN ADDITION, SAFE MEMBERS ENJOY THE FOLLOWING BENEFITS: ACCESS TO OVER 30,000 ATMS NATIONWIDE, ACCESS TO 5,600 SHARED BRANCH LOCATIONS NATIONWIDE, ABILITY TO PERFORM POINT-OF-SALE (POS) TRANSACTIONS, FREE ONLINE BANKING AND BILL PAY, FINANCIAL MANAGEMENT TOOLS AND EARLY PAYDAY WITH DIRECT DEPOSIT.
SAFE OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, RETIREMENT, BUSINESS, AND YOUTH ACCOUNTS. DEPOSITS ARE FEDERALLY INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE UNITED STATES GOVERNMENT. SAFE'S DEPOSIT RATES ARE EVERY COMPETITIVE WITH THE MARKET AND ARE TYPICALLY HIGHER THAN BANKS. SAFE FEATURES BOTH LOW AND NO-COST CHECKING PRODUCTS AS WELL AS THOSE WITH HIGHER DIVIDEND RATES. MEMBERS CAN TRANSFER FUNDS FROM ONE DEPOSIT PRODUCT OR ACCOUNT TO ANOTHER QUICKLY AND SEAMLESSLY THROUGH OUR ONLINE, MOBILE, AND TELEPHONE BANKING SYSTEMS.
SAFE OFFERS A VARIETY OF LOW-RATE PRODUCTS TO HELP MEMBERS WITH THEIR FINANCING NEEDS. AVAILABLE LOAN PRODUCTS INCLUDE AUTO LOANS, REAL ESTATE MORTGAGE LOANS, HOME EQUITY LINES OF CREDIT, HOME IMPROVEMENT LOANS, VISA CREDIT CARDS, SMALL BUSINESS LOANS, AND OTHER SECURED AND UNSECURED LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed 2nd Vice Chairperson | OfficerTrustee | 3 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 5 | $0 |
Name Not Listed 1st Vice Chairperson | OfficerTrustee | 8 | $1,678 |
Name Not Listed Secretary | OfficerTrustee | 8 | $1,639 |
Name Not Listed Chairperson | OfficerTrustee | 10 | $0 |
Name Not Listed Director | Trustee | 6 | $1,147 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncr Corporation Atm Online Banking Services | 12/30/22 | $3,043,324 |
City Of Sacramento Naming Rights Convention Ctr Signage | 12/30/22 | $2,557,147 |
Uncommon Advertising Public Relations/marketing | 12/30/22 | $1,759,021 |
Infoimage Printing And Imaging Services | 12/30/22 | $1,468,355 |
Fiserv Inc Core System Software Provider | 12/30/22 | $1,646,062 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $156,257,340 |
| Investment income | $19,849,896 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $398,032 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $183,102,902 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $482,708 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,824,672 |
| Compensation of current officers, directors, key employees. | $3,751,283 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $55,414,852 |
| Pension plan accruals and contributions | $4,257,637 |
| Other employee benefits | $8,661,062 |
| Payroll taxes | $5,035,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,138,311 |
| Fees for services: Accounting | $369,423 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,629,764 |
| Advertising and promotion | $4,849,711 |
| Office expenses | $6,239,883 |
| Information technology | $15,655,216 |
| Royalties | $0 |
| Occupancy | $5,391,105 |
| Travel | $367,651 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $514,964 |
| Interest | $1,476,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,144,856 |
| Insurance | $270,378 |
| All other expenses | $895,844 |
| Total functional expenses | $149,829,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,457,390 |
| Savings and temporary cash investments | $182,345,670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $2,379,700 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,109,768,829 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $55,814,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $927,017,676 |
| Investments—program-related | $0 |
| Intangible assets | $13,416,456 |
| Other assets | $197,546,910 |
| Total assets | $4,508,747,092 |
| Accounts payable and accrued expenses | $54,442,020 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $3,733,046 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $200,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,961,294,496 |
| Total liabilities | $4,219,469,562 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $289,277,530 |
| Total liabilities and net assets/fund balances | $4,508,747,092 |
Grants Awarded
Over the last fiscal year, Safe Credit Union has awarded $343,400 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CALIFORNIA CAPITAL AIRSHOW PURPOSE: STEM Expo Sponsorship | $7,500 |
AEROSPACE MUSEUM OF CALIFORNIA PURPOSE: Sponsorship and support of community-related programs and fundraisers | $25,000 |
CHILDREN'S MIRACLE NETWORK PURPOSE: Support of Children's Miracle Network via SacTown Run | $16,600 |
DOWNTOWN SACRAMENTO PARTNERSHIP PURPOSE: State of Downtown Sponsorship | $7,000 |
CYBER PROUD INC PURPOSE: Grant for Q1 funding cycle. Dollars allocated to programs supporting veterans and workforce development initiatives | $18,650 |
THE FIRST TEE OF GREATER SACRAMENTO PURPOSE: Support for program which teaches children the principles/values of life through golf | $10,000 |