Sep, 30, 2025 — SAFE 1 CREDIT UNION is a federally insured state chartered credit union headquartered in BAKERSFIELD, CA with 10 branch locations and about $1.08 billion in total assets. Opened 74 years ago in 1952, SAFE 1 CREDIT UNION has about 87,778 members and employs 143 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://www.safe1.org |
| Branches: | 10 branch locations |
| Members: | 87,778 |
| 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, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,082,730,423 |
| CEO/Manager: | David King |
| Chairperson: | Dawn Cole |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 121,054,849 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 170,819,417 |
| Unsecured Loans | 35,532,699 |
| Other Loans | 628,360,207 |
| TOTAL LOANS | 834,712,323 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -8,810,294 |
| Land And Building | 17,353,700 |
| Other Fixed Assets | 3,070,152 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 8,266,963 |
| All Other Assets | 536,520 |
| TOTAL ASSETS | 1,082,730,423 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 577,353 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 6,485,473 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 175,496,873 |
| Regular shares | 319,283,700 |
| All Other Shares & Deposits | 412,196,605 |
| TOTAL SHARES & DEPOSITS | 906,977,179 |
| TOTAL LIABILITIES | 914,040,005 |
| Regular Reserve | 0 |
| Other Reserves | 12,525,604 |
| Undivided Earnings | 156,164,814 |
| TOTAL EQUITY | 168,690,418 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,082,730,423 |
| INCOME & EXPENSE | |
| Loan Income | 33,783,874 |
| Investment Income | 5,736,127 |
| Other Income | 3,787,735 |
| Total Employee Compensation & Benefits | 10,287,426 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 10,655,513 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 3,955,137 |
| Cost of Funds | 10,651,596 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 13,467,301 |
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