Safeamerica Credit Union
- Assets
- $532.1m
- Revenue
- $21.4m
- Investments
- $9.5m
- Employees
- 90
- Location
- Pleasanton, CA
- Founding
- 05/1961
- Data as of
- 12/2022
- EIN
- 94-1664405
Organization Overview
Safeamerica Credit Union is located in Pleasanton, 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, Safeamerica Credit Union employed 90 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Safeamerica 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, Safeamerica Credit Union generated $21.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $17.6m during the year ending 12/2022. While expenses have increased by 3.4% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPERIOR PERSONAL SERVICE AND ATTRACTIVE FINANCIAL PRODUCTS TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARE DRAFT, SHARE ACCOUNTS AND SHARE CERTIFICATES
CONSUMER LOANS
OTHER EXEMPT FUNCTIONS ACTIVITIES FOR MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Walls Treasurer/secretary | Trustee | 1 | $0 |
Frank Zampella Chairperson | Trustee | 1 | $3,952 |
Brian Schultz Exeutive Vice Chairperson | Trustee | 1 | $0 |
Diane Bailey Board Member | Trustee | 1 | $2,016 |
Patricia Carlson Board Member | Trustee | 1 | $3,241 |
Tracy Thames Board Member | Trustee | 1 | $2,984 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corelation Inc Core System | 12/30/22 | $208,463 |
Doxim Inc Mailing Service | 12/30/22 | $200,806 |
Worldpay Holding Debit & Credit Card Processor | 12/30/22 | $367,609 |
Meridianlink Member Verification | 12/30/22 | $128,353 |
Tpx Communications Communication | 12/30/22 | $129,211 |
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 | $20,421,770 |
| Investment income | $955,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $21,376,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,207,287 |
| Compensation of current officers, directors, key employees. | $706,647 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,526,089 |
| Pension plan accruals and contributions | $169,979 |
| Other employee benefits | $862,339 |
| Payroll taxes | $424,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $100,656 |
| Fees for services: Accounting | $16,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $605,293 |
| Advertising and promotion | $268,633 |
| Office expenses | $873,229 |
| Information technology | $525,677 |
| Royalties | $0 |
| Occupancy | $728,647 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $261,947 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $448,064 |
| Insurance | $173,172 |
| All other expenses | $908,038 |
| Total functional expenses | $17,645,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,543,363 |
| Savings and temporary cash investments | $2,559,641 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,964 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $445,707,501 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,168,560 |
| Net Land, buildings, and equipment | $6,146,233 |
| Investments—publicly traded securities | $44,527,236 |
| Investments—other securities | $9,468,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,877,009 |
| Total assets | $532,148,907 |
| Accounts payable and accrued expenses | $2,893,837 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $488,213,196 |
| Total liabilities | $491,107,033 |
| 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 | $41,041,874 |
| Total liabilities and net assets/fund balances | $532,148,907 |