2021-07-21T11:00:44-05:00 2020-12-31 350921680 CROWE LLP 575 Market Street Suite 3300 San Francisco CA 941055829 990 2020-01-01 941179501 Safe Credit Union SAFE 9169797233 2295 Iron Point Rd Suite 100 Folsom CA 956308765 Chris Harris EVP/CFO 2021-07-21 true Chris Harris 999009999 Diane Brown P01578407 4155761100 2020 2022-09-23 18:48:47Z X David F Roughton 2295 Iron Point Rd Suite 100 Folsom CA 956308765 166534195 false X www.safecu.org X 1940 CA SAFE Credit Union's mission is to help members improve their financial well-being, provide excellent service, and ensure a financially sound credit union. 13 13 831 16 1072563 0 0 0 158423434 161401605 6742172 3794580 3217005 1338010 168382611 166534195 324120 412395 16825339 18079739 65323341 71714578 0 0 53077057 58633296 135549857 148840008 32832754 17694187 3085573424 3814181101 2775149568 3483711622 310423856 330469479 SAFE Credit Union's mission is to help members improve their financial well-being, provide excellent service, and ensure a financially sound credit union. false false SAFE HAS SERVED THE SACRAMENTO AREA SINCE 1940, AND NOW HAS MEMBERSHIP SPANNING 13 COUNTIES IN NORTHERN CALIFORNIA. SAFE HAS 21 BRANCHES IN FOUR OF THESE COUNTIES: SACRAMENTO, PLACER, YOLO AND CONTRA COSTA. SAFE SERVES APPROXIMATELY 240,000 MEMBERS. SAFE OFFERS DEPOSITORY, LENDING AND OTHER FINANCIAL PRODUCTS AND SERVICES TO HELP ITS MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING. AS A NONPROFIT, 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 30,000 ATMS NATIONWIDE, ACCESS TO 5,800 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. 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 EVERY COMPETITIVE WITH THE MARKET AND ARE TYPICALLY HIGHER THAN BANKS. 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. 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, AND OTHER SECURED AND UNSECURED LOANS. 0 false false true false false false true false true true false true true true true false false false false false false false false false false true true true false true false false false false false false false false false false false false true 53200 0 831 true true true false false false false false true false X 13 13 false false false false true true true true true false true true true true true true true true true true false CA X Chris Harris 9169797233 2295 Iron Point Rd Suite 100 Folsom CA 95630 James Jefferson Secretary 12.0 X X 0 0 0 Rick Blumenfeld Treasurer 7.0 X X 627 0 0 Robert Logue 1st Vice Chairperson 8.0 X X 798 0 0 Terrrance Tremelling Chairperson 10.0 X X 0 0 0 Brian Bedford Director 2.0 X 0 0 0 Dylan Gottfried Director 2.0 X 0 0 0 Herb Long Director 4.4 X 0 0 0 James Hopp Director 5.0 X 0 0 0 Jody Porter Director 2.0 X 0 0 0 John Quattrin Director 5.0 X 0 0 0 Kathern Gaskins Director 10.0 X 3019 0 0 Phillip Meserve Director 4.9 X 0 0 0 Ronald Seaman Director 6.0 X 0 0 0 Chris Harris EVP/CFO 40.0 X 658326 0 25200 David Roughton President/CEO 40.0 X 1005778 0 41100 Colleen Nerius EVP CHRO 40.0 X 262670 0 11131 Eric Wilson EVP/CIO (until 11/12/20) 40.0 X 572124 0 32236 Faye Nabhani EVP/CCO 40.0 X 655028 0 40471 James Allen EVP/COO (until 12/11/20) 40.0 X 601200 0 25830 Michael McCarthy SVP/CIO 40.0 X 262917 0 35373 Brandi Schaefer Sr Mortgage Officer 40.0 X 1183785 0 24900 Damian Azimi Sr Mortgage Officer 40.0 X 517424 0 38294 Diane Hicks Sr Mortgage Officer 40.0 X 654957 0 27674 Justin Mendonca Sr Mortgage Officer 40.0 X 701954 0 25066 William G Erb Mortgage Sales Team Lead 40.0 X 739510 0 43860 7820117 0 371135 139 false true false NCR CORPORATION 864 SPRING STREET NW ATLANTA GA 303081007 ATM & Online Banking Services 4050580 FISERV INC PO BOX 208457 DALLAS TX 753208457 Core and Datawarehouse 1843856 UNCOMMON ADVERTISING 1331 21ST STREET SACRAMENTO CA 95811 Public Relations/Marketing 1783451 ASCENT BUILDERS INC 1400 S STREET SACRAMENTO CA 95811 Construction Contractor 1410942 INFOIMAGE 175 SOUTH HILL DRIVE BRISBANE CA 94005 Printing and Imaging Services 899270 59 0 Interest on loans to members 522100 96752564 96752564 ATM and debit card fees 522100 22000472 21538358 462114 Account service fees 522100 13947019 13947019 Loan fees 522100 8267402 8267402 Net gain on sale of loans 522100 15663010 15663010 4771138 4717403 53735 0 161401605 3794580 3794580 320278 320278 0 320278 320278 0 0 Other non-interest income 522100 1923597 223919 1699678 Shared branch fees 522100 556714 556714 Loan Servicing and MSR Amortization -1462579 -1462579 0 0 0 0 1017732 166534195 159647096 1072563 5814536 395895 16500 18079739 4234600 53815572 1886962 7439578 4337866 2140671 263597 2532539 3544749 5096371 13695423 4731777 133806 232908 671252 3201744 231133 Provision for Loan Losses 14736587 Loan Servicing Expense 5275945 2144794 148840008 17238945 20001339 351383837 802599831 0 0 0 0 821793 1865334 0 0 2453219291 2391828720 0 0 0 0 102620196 48058096 52466893 54562100 0 0 47253555 327540293 0 13803709 13674625 149385401 202108859 3085573424 3814181101 29461203 35426315 0 0 0 0 0 0 4845000 5062000 0 0 45000000 0 0 0 2695843365 3443223307 2775149568 3483711622 X 0 0 0 0 X 0 0 0 310423856 330469479 310423856 330469479 3085573424 3814181101 17694187 2351436 0 X false true X true false 24000 0 24000 24000 true Folsom Chamber of Commerce Jobs PAC 1835 Iron Point Rd Ste 180 Folsom CA 95630 463565162 1000 0 Schedule C, Part I-A, Line 1 Description of Political Activities SAFE IS A COMMUNITY-BASED CREDIT UNION THAT HAS SIGNIFICANT INTERFACE WITH THE LOCAL, STATE, AND FEDERAL GOVERNMENT OFFICIALS AND ENTITIES. WE PARTICIPATE IN THE POLITICAL PROCESS SO WE HAVE AN OPPORTUNITY TO PROVIDE INPUT ON LEGISLATION THAT AFFECTS CREDIT UNIONS. true 980286563 315920181 341141564 955065180 true X 10022969 10022969 47759423 14938605 32820818 4221836 2892748 1329088 40615968 30226743 10389225 54562100 Available for Sale Securities 316258021 F Other Investments 11282272 F 327540293 Loans held for sale 9521418 Accrued interest receivable 6013640 Share insurance deposits 30500299 Other assets 156073502 202108859 Member share accounts 3388204590 Public unit shares 55018717 3443223307 X 168885631 2351436 0 2351436 166534195 0 0 166534195 148840008 0 0 148840008 0 0 148840008 Schedule D, Part IV, Line 1b Agent, trustee, custodian, or other intermediary arrangement The credit union serves as custodian for assets which are not included on the balance sheet. Schedule D, Part IV, Line 2b Explanation of escrow agreement The credit union holds funds in escrow to pay real estate taxes and insurance on behalf of its mortgage loan members. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Credit Union is exempt, by statute, from federal income taxes. The Credit Union is a state-chartered credit union described in Internal Revenue Code (IRC) Section 501(c)(14). As such, the Credit Union is exempt from federal taxation of income derived from the performance of activities that are in furtherance of its exempt purposes. However, the Credit Union is subject to unrelated business income tax. FASB Codification Topic 740, Income Taxes, provides guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Credit Union's tax returns to determine whether the tax positions are more likely than not to be sustained "when challenged" or "when examined" by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold would be recorded as a tax expense and liability in the current year. For the years ended December 31, 2020 and 2019, management has determined that there are no material uncertain tax positions. true Sacramento Metro Chamber 1601 Alhambra Blvd Suite 100 Sacramento CA 95816 940824600 501(c)(6) 50000 Support of Rapid Responses Business Triage Hotline due to Covid Los Rios Foundation 1919 Spanos Court Sacramento CA 95825 942506591 501(c)(3) 33300 Support of Los Rios Promise Campaign and STEM Center Aerospace Museum of California 3200 Freedom Park Dr McClellan CA 95662 942831253 501(c)(3) 25000 Sponsorship and support of community-related programs and fundraisers Align Capital Region 1410 Ethan Way Sacramento CA 95825 680287387 501(c)(3) 25000 Support for the Capital Region's efforts to align people, programs, and resources to improve the community. UC Davis Medical School 4900 Broadway Ste 115 Sacramento CA 95820 946036494 501(c)(3) 21200 Sponsorship of UC Davis medical student scholarships, mini-medical school, and palliative care fellowship River City Food Bank PO Box 160204 Sacramento CA 95816 911851398 501(c)(3) 20000 2020 Covid specified grant Saint John's Program for Real Change 2443 Fair Oaks Blvd 369 Sacramento CA 95825 680132934 501(c)(3) 20000 2020 Covid specified grant UC Davis Foundation One Shields Ave Davis CA 95616 946081352 501(c)(3) 15000 Support of the UC Davis Interollegiate Athletics Program for carrer and workforce development programs Sacramento County Office of Education PO Box 269003 Sacramento CA 95826 946002536 Government 11000 Support of local high school scholarships Air Force Association PO Box 2326 Citrus Heights CA 95610 431988851 501(c)(3) 10000 Support of Air Force scholarships Children's Miracle Network 10325 Meanley Drive San Diego CA 92131 870387205 501(c)(3) 10000 Support of Children's Miracle Network via SacTown Run Folsom Economic Development Corp 200 Wool Street Folsom CA 95630 680377492 501(c)(3) 10000 Support for the economic development within the City of Folsom Foster Youth Education Fund 2443 Fair Oaks Blvd 392 Sacramento CA 95825 200680594 501(c)(3) 10000 2020 Covid specified grant Nonprofit Resource CenterImpact Foundry 2030 W El Camino Ave Suite 210 Sacramento CA 95833 680173440 501(c)(3) 10000 2020 Annual sponsorship to support Safe's partnership in community PRO Youth and Families Inc 4625 44th St Sacramento CA 95820 942795430 501(c)(3) 10000 Support of Youth Leadership Academy (SACOG) The First Tee of Greater Sacramento 3649 Fulton Ave Sacramento CA 95821 680023502 501(c)(3) 10000 Support for program which teaches children the principles/values of life through golf Wellspring Women's Center 3414 4TH Ave Sacramento CA 95817 911752615 501(c)(3) 10000 2020 Covid specified grant 16 1 STUDENT SCHOLARSHIPS 21 16500 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Community donations and contributions are reviewed and approved by SAFE's executive management prior to disbursement. All donations and contributions are reported to Safe's board of directors on a monthly basis for their review. X X true true X X X true true false David Roughton President/CEO 602023 0 141761 0 261994 0 23397 0 17703 0 1046878 0 0 0 Chris Harris EVP/CFO 344849 0 237178 0 76299 0 22568 0 2632 0 683526 0 0 0 Faye Nabhani EVP/CCO 324979 0 225427 0 104622 0 22600 0 17871 0 695499 0 0 0 James Allen EVP/COO (until 12/11/20) 306711 0 196932 0 97557 0 22708 0 3122 0 627030 0 0 0 Eric Wilson EVP/CIO (until 11/12/20) 268489 0 199068 0 104567 0 16172 0 16064 0 604360 0 0 0 Michael McCarthy SVP/CIO 179734 0 82729 0 454 0 16856 0 18517 0 298290 0 0 0 Colleen Nerius EVP CHRO 134399 0 128000 0 271 0 2766 0 8365 0 273801 0 0 0 Brandi Schaefer Sr Mortgage Officer 1181612 0 875 0 1298 0 22600 0 2300 0 1208685 0 0 0 William G Erb Mortgage Sales Team Lead 624307 0 113321 0 1882 0 23728 0 20132 0 783370 0 0 0 Justin Mendonca Sr Mortgage Officer 700226 0 875 0 853 0 22329 0 2737 0 727020 0 0 0 Diane Hicks Sr Mortgage Officer 650677 0 625 0 3655 0 25508 0 2166 0 682631 0 0 0 Damian Azimi Sr Mortgage Officer 516468 0 500 0 456 0 20849 0 17445 0 555718 0 0 0 Schedule J, Part I, Line 1b POLICY ON REIMBURSEMENT THE BUSINESS PURPOSE OF THIS MEMBERSHIP IS TO FACILITATE EVENTS FOR THE CREDIT UNION'S CEO AND BUSINESS ASSOCIATES. MEMBERSHIP DUES ARE INVOICED DIRECTLY TO SAFE ON A MONTHLY BASIS AND APPROVED IN ACCORDANCE WITH COMPANY EXPENSE POLICIES. EXPENSES FOR TRAVEL COMPANIONS OF THE BOARD OF DIRECTORS ARE SUBJECT TO THE SAME EXPENSE REIMBURSEMENT POLICY AS IS THE BOARD AND ORGANIZATION'S EMPLOYEES. Schedule J, Part I, Line 1a Travel for companions Benefits to interested persons includes travel-related expenses for the spouses of the Board Directors who are attending credit union and financial services industry conferences or events. The following individuals received this benefit and were issued either a 1099-Misc or was included on the w-2: 1. Robert Logue 2. Rick Blumenfeld 3. Kathy Gaskins 4. David Roughton Schedule J, Part I, Line 1a Health or social club dues or initiation fees SAFE pays the membership dues to a local country club for its CEO for business development. This amount was not treated as taxable income. Schedule J, Part I, Line 4a Severance or change-of-control payment 1. Eric Wilson - GENERAL SEVERANCE AND RELEASE AGREEMENT WAS EXECUTED; AMOUNT IS SUBJECT TO A CONFIDENTIALITY AGREEMENT. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan 1. The credit union's President/CEO, David Roughton, has a SERP in which the credit union pays a retirement benefit to the executive if certain requirements are met. The retirement benefit is treated as annual compensation, which is subject to income tax and is included in Other Reportable Compensation in Schedule J, Part II. The annual amount paid in 2020 is $243,510. 2. The credit union's EVP/CFO, Chris Harris, has a SERP in which the credit union pays a retirement benefit to the executive if certain requirements are met. The retirement benefit is treated as annual compensation, which is subject to income tax and is included in Other Reportable Compensation in Schedule J, Part II. The annual amount paid in 2020 is $75,001. 3. The credit union's EVP/CCO, Faye Nabhani, has a SERP in which the credit union pays a retirement benefit to the executive if certain requirements are met. The retirement benefit is treated as annual compensation, which is subject to income tax and is included in Other Reportable Compensation in Schedule J, Part II. The annual amount paid in 2020 is $103,333. 4. The credit union's EVP, COO, James Allen, has a SERP in which the credit union pays a retirement benefit to the executive if certain requirements are met. The retirement benefit is treated as annual compensation, which is subject to income tax and is included in Other Reportable Compensation in Schedule J, Part II. The annual amount paid in 2020 is $95,834. Eric Wilson EVP/CIO Mortgage X 360000 331633 false false true Michael McCarthy SVP/CIO Auto X 33724 29694 false false true Colleen Nerius EVP CHRO Mortgage X 701150 701150 false false true Faye Nabhani EVP/CCO Mortgage X 828000 802857 false true true 1865334 Form 990, Part III, Line 4d OTHER PROGRAM SERVICES FINANCIAL PLANNING SERVICES, INSURANCE PRODUCTS AND THE PARTICIPATION IN MANY COMMUNITY-RELATED EVENTS AND SUPPORT OF NON-PROFIT ORGANIZATIONS. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Board of Directors may appoint an executive committee of no fewer than three directors and delegate to such committee the power to approve membership applications. With the written approval of the Commissioner, the executive committee may act for the Board of Directors in the purchase and sale of securities, investment and withdrawal of funds, in borrowing funds and in making loans to other credit unions in accordance with applicable law and regulations. Form 990, Part VI, Line 6 Classes of members or stockholders The credit union's members have rights to elect the members of the governing body. The credit union's members also receive a share of the organization's profits in the form of cash dividends on deposits. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, or as vacancies arise, or otherwise. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur and as outlined in the bylaws. Form 990, Part VI, Line 11b Review of form 990 by governing body Preparation of the Form 990 is coordinated through the company's Finance department and tax preparer. Information is requested from and gathered by several functional areas and executive management to assist in the completion of the Form. Throughout the process, questions are discussed with the tax preparer and resolutions are incorporated into the return as appropriate. Once completed, executive management reviews the form for accuracy and reasonableness. The completed form is then presented to the board of directors for their review prior to filing. Any questions or issues raised by the board are addressed and approved prior to submission to the IRS. Form 990, Part VI, Line 12c Conflict of interest policy Any instances of a conflict of interest that management becomes aware of is escalated to the Chief Human Resources Officer and the President/CEO. An investigation would be conducted to gather all the facts. Those facts would be used to determine the appropriate actions that are warranted. SAFE also has a formal process that provides employees a means of reporting any complaint or inappropriate activities directly to the Audit Committee or directly to our regulator, the California Department of Financial Protection and Innovation. Lastly, SAFE's internal control structure is documented, reviewed and updated annually by management and tested by its external auditor. Internal controls are a vital part of helping to detect conflicts or inappropriate activity within the organization. Form 990, Part VI, Line 15a Process to establish compensation of top management official IN 2020, OUR COMPENSATION CONSULTANT UPDATED COMPENSATION RANGES WITH CURRENT MARKET DATA BASED ON POSITIONS AND GRADES, AND ADJUSTMENTS WERE MADE AS NEEDED. THIS PROCESS AFFECTS ALL LEVELS AND POSITIONS WITHIN THE ORGANIZATION. FURTHER, EXECUTIVE COMPENSATION SURVEYS ARE REVIEWED BY THE CHIEF HUMAN RESOURCES OFFICER AND ARE USED FOR COMPARISON PURPOSES TO ENSURE THAT COMPETITIVE, MARKET BASED RANGES ARE IN PLACE. FOR THE CEO, COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND A CEO COMPENSATION SALARY SURVEY IS OBTAINED AND RESEARCH IS PERFORMED TO ENSURE COMPENSATION LEVELS ARE COMPETITIVE. Form 990, Part VI, Line 15b Process to establish compensation of other employees IN 2020, OUR COMPENSATION CONSULTANT UPDATED COMPENSATION RANGES WITH CURRENT MARKET DATA BASED ON POSITIONS AND GRADES, AND ADJUSTMENTS WERE MADE AS NEEDED. THIS PROCESS AFFECTS ALL LEVELS AND POSITIONS WITHIN THE ORGANIZATION. FURTHER, EXECUTIVE COMPENSATION SURVEYS ARE REVIEWED BY THE CHIEF HUMAN RESOURCES OFFICER AND ARE USED FOR COMPARISON PURPOSES TO ENSURE THAT COMPETITIVE, MARKET BASED RANGES ARE IN PLACE. FOR THE CEO, COMPENSATION IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND A CEO COMPENSATION SALARY SURVEY IS OBTAINED AND RESEARCH IS PERFORMED TO ENSURE COMPENSATION LEVELS ARE COMPETITIVE. Form 990, Part VI, Line 19 Required documents available to the public Governing documents and conflict of interest policies are not made available to the public. Annual reports containing financial results for the last two fiscal years are provided on SAFE's website. Complete audited financial statements are also provided on the company's website annually. Lastly, SAFE's regulatory 5300 call reports are filed quarterly and are available to the public via NCUA's website. Form 990, Part VIII, Line 2f Other Program Service Revenue Securities and insurance fees - Total Revenue: 4771138, Related or Exempt Function Revenue: 4717403, Unrelated Business Revenue: 53735, Revenue Excluded from Tax Under Sections 512, 513, or 514: ; FORM 990, BOX B AMENDED RETURN THE AMENDED RETURN REPORTS A CHANGE TO SCHEDULE J, PART 1, LINE 4A NARRATIVE FOR ERIC WILSON'S REPORTED SEVERANCE AMOUNT. THE AMOUNT IS SUBJECT TO A CONFIDENTIALITY AGREEMENT, AND HAS BEEN REMOVED FROM THE RETURN.