Safe Credit Union

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1940

Legal Domicile

Phone

9169797233

Tax Period

2024-01-01 to 2024-12-31

Safe Credit Union, founded in 1940, is a major nonprofit that reported $254.7M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $230.1M left a modest 10% surplus.

Mission

SAFE Credit Union's Purpose Statement is Building Financial Freedom. SAFE believes in financial freedom. This belief drives our commitment to serving members with knowledge and opportunities to build financial freedom.

Program Service Accomplishments

Program 1

SAFE HAS SERVED THE SACRAMENTO AREA SINCE 1940, AND NOW HAS MEMBERSHIP SPANNING 13 COUNTIES IN NORTHERN CALIFORNIA. SAFE HAS 19 BRANCHES IN THREE OF THESE COUNTIES: SACRAMENTO, PLACER AND YOLO. SAFE SERVES APPROXIMATELY 233,656 MEMBERS. SAFE OFFERS DEPOSITORY, LENDING AND OTHER FINANCIAL PRODUCTS AND SERVICES TO HELP ITS MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING. AS A NOT FOR PROFIT, SAFE IS ABLE TO DELIVER BENEFITS TO ITS MEMBERSHIP THROUGH LOWER LOAN RATES AND HIGHER DEPOSIT RATES. IN ADDITION, SAFE MEMBERS ENJOY THE FOLLOWING BENEFITS: ACCESS TO OVER 30,000 ATMS NATIONWIDE, ACCESS TO 5,600 SHARED BRANCH LOCATIONS NATIONWIDE, ABILITY TO PERFORM POINT-OF-SALE (POS) TRANSACTIONS, FREE ONLINE BANKING AND BILL PAY, FINANCIAL MANAGEMENT TOOLS AND EARLY PAYDAY WITH DIRECT DEPOSIT.

Program 2

SAFE OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, RETIREMENT, BUSINESS, AND YOUTH ACCOUNTS. DEPOSITS ARE FEDERALLY INSURED TO AT LEAST $250,000 AND...

SAFE OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, RETIREMENT, BUSINESS, AND YOUTH ACCOUNTS. DEPOSITS ARE FEDERALLY INSURED TO AT LEAST $250,000 AND BACKED BY THE FULL FAITH AND CREDIT OF THE UNITED STATES GOVERNMENT. SAFE'S DEPOSIT RATES ARE VERY COMPETITIVE WITH THE MARKET. SAFE FEATURES BOTH LOW AND NO-COST CHECKING PRODUCTS AS WELL AS THOSE WITH HIGHER DIVIDEND RATES. MEMBERS CAN TRANSFER FUNDS FROM ONE DEPOSIT PRODUCT OR ACCOUNT TO ANOTHER QUICKLY AND SEAMLESSLY THROUGH OUR ONLINE, MOBILE, AND TELEPHONE BANKING SYSTEMS.

Program 3

SAFE OFFERS A VARIETY OF LOW-RATE PRODUCTS TO HELP MEMBERS WITH THEIR FINANCING NEEDS. AVAILABLE LOAN PRODUCTS INCLUDE AUTO LOANS, REAL ESTATE MORTGAGE LOANS, HOME EQUITY LINES OF CREDIT, HOME...

SAFE OFFERS A VARIETY OF LOW-RATE PRODUCTS TO HELP MEMBERS WITH THEIR FINANCING NEEDS. AVAILABLE LOAN PRODUCTS INCLUDE AUTO LOANS, REAL ESTATE MORTGAGE LOANS, HOME EQUITY LINES OF CREDIT, HOME IMPROVEMENT LOANS, VISA CREDIT CARDS, SMALL BUSINESS LOANS, COMMERCIAL REAL ESTATE, AND OTHER SECURED AND UNSECURED LOANS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $206,478,987

Investment Income $43,959,377

Other Revenue $4,230,547

TOTAL REVENUE $254,668,911

Expense Breakdown

Grants Paid $249,055

Salaries & Benefits $83,943,048

Fundraising Expenses $0

Program Expenses $0

Other Expenses $73,650,973

TOTAL EXPENSES $230,107,484

Year-over-Year Comparison

	2024	2023	Change
Revenue	$254,668,911	$229,786,087	+0.1%
Expenses	$230,107,484	$211,556,071	+0.1%
Net Income	$24,561,427	$18,230,016	+0.3%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

843

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,696,254

Total Directors

$17,213

Key Employees

$2,548,814

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Donald Ball	Treasurer, 1st Asst. Secretary	5.0	Officer Director	$3,432	$0	$3,432
Jody Porter	2nd Vice Chairperson	1.0	Officer Director	$0	$0	$0
Rick Blumenfeld	Chairperson	12.0	Officer Director	$2,048	$0	$2,048
Ryan Larkin	Secretary	8.0	Officer Director	$1,617	$0	$1,617
Sonia Lewis	1st Vice Chairperson	6.0	Officer Director	$1,756	$0	$1,756
Bernadette Austin	Director	3.0	Director	$1,453	$0	$1,453
Martha Lofgren	Director	3.0	Director	$790	$0	$790
Robert Logue	Director	5.0	Director	$2,120	$0	$2,120
Sonbol Aliabadi	Director	4.0	Director	$2,500	$0	$2,500
Terrrance Tremelling	Director	8.0	Director	$0	$0	$0
Trish Rodriguez	Director	3.0	Director	$1,497	$0	$1,497
Alexis Fitzpatrick	EVP/CFO	40.0	Officer	$416,268	$15,965	$432,233
Faye Nabhani	President/CEO	40.0	Officer	$1,202,025	$53,143	$1,255,168
Chris Harris	EVP/CSO	40.0	Key Emp	$705,227	$16,743	$721,970
Colleen Nerius	EVP/CHRO	40.0	Key Emp	$478,044	$15,128	$493,172
Jerrod Keller	EVP/CXO	40.0	Key Emp	$292,699	$15,840	$308,539
Michael McCarthy	SVP/CTO	40.0	Key Emp	$474,099	$34,245	$508,344
Tiffani Vargas	EVP/CLO	40.0	Key Emp	$482,304	$34,485	$516,789
Brandi Schaefer	Sr Mortgage Officer	40.0	Highest	$602,164	$19,724	$621,888
Damian Azimi	Sr Mortgage Officer	40.0	Highest	$1,044,937	$45,646	$1,090,583
Diane Hicks	Sr Mortgage Officer	40.0	Highest	$250,770	$11,722	$262,492
Jeffrey Impey	Wealth Advisor	40.0	Highest	$530,640	$31,147	$561,787
William G Erb	Mortgage Sales Team Lead	40.0	Highest	$123,012	$27,726	$150,738

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$254,668,911	$230,107,484	$4,305,419,611	$24,561,427
2023	$229,786,087	$211,556,071	$4,637,373,591	$18,230,016
2022	$183,102,902	$149,829,164	$4,508,747,092	$33,273,738
2021	$162,136,670	$128,000,465	$4,443,372,826	$34,136,205
2020	$166,534,195	$148,840,008	$3,814,181,101	$17,694,187
2020	$166,534,195	$148,840,008	$3,814,181,101	$17,694,187
2019	$168,382,611	$135,549,857	$3,085,573,424	$32,832,754
2018	$147,810,875	$118,887,426	$2,883,729,558	$28,923,449