Dec, 31, 2023 — SAFE 1 CREDIT UNION is a federally insured state chartered credit union headquartered in BAKERSFIELD, CA with 9 branch locations and about $1.04 billion in total assets. Opened 72 years ago in 1952, SAFE 1 CREDIT UNION has about 81,521 members and employs 134 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 1 CREDIT UNION |
|---|---|
| Address: (Main Office) | 1400 Mill Rock Way BAKERSFIELD, CA 93311 |
| Phone: | (661) 327-3818 |
| Fax: | (661) 663-8539 |
| Website: | https://safe1.org |
| Branches: | 9 branch locations |
| Members: | 81,521 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 61598 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1952 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,037,617,758 |
| CEO/Manager: | David King |
| Chairperson: | Ron Wolfe |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 146,002,975 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 141,415,448 |
| Unsecured Loans | 28,664,010 |
| Other Loans | 561,265,940 |
| TOTAL LOANS | 731,345,398 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -5,485,211 |
| Land And Building | 15,227,159 |
| Other Fixed Assets | 1,737,876 |
| NCUSIF Deposit | 7,657,492 |
| All Other Assets | 451,336 |
| TOTAL ASSETS | 1,037,617,758 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 374,715 |
| Notes & Interest Payable | 100,000,000 |
| Accounts Payable & Other Liabilities | 17,065,879 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 161,916,776 |
| Regular shares | 320,746,500 |
| All Other Shares & Deposits | 301,987,059 |
| TOTAL SHARES & DEPOSITS | 784,650,335 |
| TOTAL LIABILITIES | 902,090,929 |
| Regular Reserve | 0 |
| Other Reserves | 7,985,295 |
| Undivided Earnings | 127,541,534 |
| TOTAL EQUITY | 135,526,829 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,037,617,758 |
| INCOME & EXPENSE | |
| Loan Income | 30,676,018 |
| Investment Income | 4,597,915 |
| Other Income | 4,801,400 |
| Total Employee Compensation & Benefits | 12,263,350 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 11,653,582 |
| Non-operating Income & (Expense) | -530,685 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 2,003,828 |
| Cost of Funds | 7,894,856 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 12,605,745 |
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