Dec, 31, 2023 — SAFE CREDIT UNION is a federally insured state chartered credit union headquartered in FOLSOM, CA with 20 branch locations and about $4.65 billion in total assets. Opened 84 years ago in 1940, SAFE CREDIT UNION has about 235,222 members and employs 754 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | SAFE CREDIT UNION |
|---|---|
| Address: (Main Office) | 2295 Iron Point Rd FOLSOM, CA 95630-8766 |
| Phone: | (916) 979-7233 |
| Fax: | |
| Website: | https://www.safecu.org |
| Branches: | 20 branch locations |
| Members: | 235,222 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68366 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,652,669,432 |
| CEO/Manager: | Faye Nabhani |
| Chairperson: | Terrance Tremelling |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 293,402,231 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 8,202,523 |
| Real Estate Loans | 2,153,293,638 |
| Unsecured Loans | 121,241,757 |
| Other Loans | 1,041,295,719 |
| TOTAL LOANS | 3,315,831,114 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -29,531,466 |
| Land And Building | 40,194,679 |
| Other Fixed Assets | 13,512,339 |
| NCUSIF Deposit | 40,472,018 |
| All Other Assets | 0 |
| TOTAL ASSETS | 4,652,669,432 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 300,000,000 |
| Accounts Payable & Other Liabilities | 78,153,494 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 876,582,886 |
| Regular shares | 710,255,224 |
| All Other Shares & Deposits | 2,377,557,914 |
| TOTAL SHARES & DEPOSITS | 3,964,396,023 |
| TOTAL LIABILITIES | 4,342,549,517 |
| Regular Reserve | 0 |
| Other Reserves | -57,893,419 |
| Undivided Earnings | 368,013,334 |
| TOTAL EQUITY | 310,119,915 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,652,669,432 |
| INCOME & EXPENSE | |
| Loan Income | 128,886,287 |
| Investment Income | 37,424,741 |
| Other Income | 25,440,927 |
| Total Employee Compensation & Benefits | 80,246,545 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 54,130,123 |
| Non-operating Income & (Expense) | -413,599 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 9,980,063 |
| Cost of Funds | 66,785,742 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 18,230,015 |
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