Dec, 31, 2023 — SAFE FEDERAL CREDIT UNION is a federal credit union headquartered in SUMTER, SC with 20 branch locations and about $1.83 billion in total assets. Opened 69 years ago in 1955, SAFE FEDERAL CREDIT UNION has about 140,194 members and employs 360 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 FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 160 W Wesmark Blvd SUMTER, SC 29150-1964 |
| Phone: | (803) 469-8600 |
| Fax: | (803) 469-4050 |
| Website: | https://www.safefed.org |
| Branches: | 20 branch locations |
| Members: | 140,194 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9988 |
|---|---|
| Membership Type: | Multiple common bond - Primarily military |
| Corporate Credit Union: | No |
| Year Opened: | 1955 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $1,825,505,429 |
| CEO/Manager: | Michael M Baker |
| Chairperson: | Kay Oldhouser Davis |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 92,736,898 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 418,930,787 |
| Unsecured Loans | 195,791,657 |
| Other Loans | 712,112,899 |
| TOTAL LOANS | 1,326,835,343 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -14,027,668 |
| Land And Building | 30,146,650 |
| Other Fixed Assets | 2,206,518 |
| NCUSIF Deposit | 14,964,942 |
| All Other Assets | 708,149 |
| TOTAL ASSETS | 1,825,505,429 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 36,700,000 |
| Accounts Payable & Other Liabilities | 31,319,670 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 289,687,525 |
| Regular shares | 472,186,700 |
| All Other Shares & Deposits | 865,426,919 |
| TOTAL SHARES & DEPOSITS | 1,627,301,144 |
| TOTAL LIABILITIES | 1,695,322,360 |
| Regular Reserve | 0 |
| Other Reserves | -37,669,172 |
| Undivided Earnings | 167,852,241 |
| TOTAL EQUITY | 130,183,069 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 1,825,505,429 |
| INCOME & EXPENSE | |
| Loan Income | 64,045,630 |
| Investment Income | 5,825,532 |
| Other Income | 17,539,631 |
| Total Employee Compensation & Benefits | 25,711,085 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 31,549,635 |
| Non-operating Income & (Expense) | 3,490,963 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 15,108,127 |
| Cost of Funds | 23,234,452 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 7,346,344 |
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