2015-05-06T14:01:14-05:00 2014-12-31 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2014-01-01 941179501 Safe Credit Union SAFE 9169714554 2295 Iron Point Rd Folsom CA 95630 Chris Harris SVP/CFO 2015-04-29 true JOHN WOODHULL P01305268 3128997000 2014 2016-02-25 16:41:14Z X Henry W Wirz 2295 Iron Point Rd Folsom CA 95630 100287839 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. 9 9 722 19 673947 -559547 0 0 85970362 83335934 9664954 9279253 1476203 3577411 97111519 96192598 273233 337453 6443281 6173939 37535107 40058020 0 0 0 39191016 39253743 83442637 85823155 13668882 10369443 2004704102 2137634239 1807404232 1927901845 197299870 209732394 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 12 COUNTIES IN NORTHERN CALIFORNIA. SAFE HAS 22 BRANCHES IN FOUR OF THESE COUNTIES: SACRAMENTO, PLACER, YOLO AND CONTRA COSTA. SAFE SERVES APPROXIMATELY 182,000 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 25,000 ATMS NATIONWIDE, ACCESS TO 2,500 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 , HOLIDAY CLUB 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 BANKING AND TELEPHONE 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, STUDENT 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 false false false false false false false false false false false false false true 31322 0 true 722 true true true false false false false false X 9 9 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 9169714554 2295 Iron Point Rd Suite 100 Folsom CA 95630 Phillip Meserve 1st Vice Chairman 13.00 X X 2213 0 0 Donald Hug 2nd Vice Chairman 8.00 X X 331 0 0 Ronald Seaman Chairman 15.00 X X 4300 0 0 Kathern Gaskins Treasurer 12.00 X X 75 0 0 James Jefferson Secretary 10.00 X X 2335 0 0 Herb Long Director 14.00 X 69 0 0 James Hopp Director 7.00 X 1051 0 0 Terrance Tremelling Director 14.00 X 899 0 0 Alice Perez Director 2.00 X 0 0 0 Chris Harris SVP/CFO 40.00 X 313632 0 26256 David Roughton PRES/COO 40.00 X 484810 0 40989 Henry Wirz CEO 40.00 X 467908 0 32437 Sharon Whiteley SVP/CCO 40.00 X 477381 0 23855 David Pope SVP/CTO 40.00 X 419626 0 41336 Jayne Anderson Sr. Mortgage Officer 40.00 X 232075 0 27255 Virginia Wade SVP, HR 40.00 X 326735 0 21536 Brandi Schaefer Sr. Mortgage Officer 40.00 X 270300 0 24375 Collene Crawford VP, Consumer Banking 40.00 X 230058 0 26112 Dana Lanzaro Financial Advisor 40.00 0.00 X 212106 0 29546 3445904 0 293697 51 false true false ASCENT BUILDERS 1400 S Street Sacramento CA 95811 COMMERCIAL CONSTRUCTION CONTRACTOR 2845875 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 ONLINE BANKING SERVICES 2227572 QUEST PO BOX 41039 SACRAMENTO CA 958410039 TELECOMMUNICATIONS 1777728 RUNYON SALTZMAN & EINHORN INC 2020 L St SACRAMENTO CA 95811 PUBLIC RELATIONS/MARKETING 1668633 UCF 1780 North Market Blvd Sacramento CA 95834 COMMERCIAL FURNISHINGS 1250230 32 0 Interest on loans to members 522100 48815315 48815315 ATM and debit card fees 522100 13402524 13066521 336003 Account service fees 522100 12233173 12233173 Loan Fees 522100 3306627 3306627 Gain on sale of loans 522100 2580029 2580029 2998266 2978326 19940 0 83335934 9857111 9857111 0 0 3517383 4095241 0 -577858 -577858 -577858 Other non-interest income 522100 3259407 3259407 Shared Branch Fees 522100 318004 318004 0 0 0 0 3577411 96192598 86239398 673947 9279253 327453 10000 6173939 2339502 28123533 1998009 4964568 2632408 425475 142774 1629573 0 0 0 2929790 4782520 9836030 4365414 391905 422333 85975 3276209 233043 Provision for Loan Losses 5125145 Loan Servicing Expense 2366827 3240730 0 0 0 85823155 0 0 0 170853836 180265780 0 0 1093917417 1243500843 88157825 34106441 51630294 54051384 568593950 522208227 0 13282009 13282009 106426596 124325996 2004704102 2137634239 13492309 14566460 2299000 2291000 0 1791612923 1911044385 1807404232 1927901845 X 197299870 209732394 197299870 209732394 2004704102 2137634239 10369443 2063081 0 X false true X true false 27900 0 27900 true Schedule C, Part I-A, Line 1 DESCRIPTION OF POLITICAL CAMPAIGN 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 571585542 96221642 64513446 603293738 true X 8650877 8650877 41902267 7867246 34035021 3225841 2729488 496353 34378840 23509707 10869133 54051384 OTHER INVESTMENTS 9739672 F AVAILABLE FOR SALES SECURITIES 512468555 F 522208227 Loans held for sale 1617900 Accrued interest receivable 5874419 Share insurance deposits 18654639 Other assets 98179038 124325996 Member share accounts 1906042979 Public unit shares 5001406 1911044385 X 98255679 2063081 0 2063081 96192598 0 0 96192598 85823155 0 0 85823155 0 0 85823155 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. 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, 2014 and 2013, management has determined that there are no material uncertain tax positions. true UC Davis Medical School 4900 Broadway Ste 115 Sacramento CA 95820 946036494 501(c)(3) 43000 Sponsorship of UC Davis student scholarships and participation in other fundraising events. KVIE 2030 W El Camino Ave Sacramento CA 95833 941421463 501(c)(3) 32550 Annual sponsorship of View Finder event and educational television programming support Aerospace Museum of California 3200 Freedom Park Dr McClellan CA 95662 942831253 501(c)(3) 27918 Sponsorship and support of community-related programs and fundraisers Salvation Army PO Box 348000 Sacramento CA 95834 941156347 501(c)(3) 25000 Support of local community programs California Capital Airshow 6900 Airport Blvd Sacramento CA 95837 743212900 501(c)(3) 15000 Support of annual airshow City Year Sacramento 1414 K Street Suite 100 Sacramento CA 95814 222882549 501(c)(3) 11500 Support of local eductional programs for at-risk kids Sacramento County Office of Education PO Box 269003 Sacramento CA 95826 946002536 Government 10500 Support of local high school scholarships Education Foundation for Aerospace PO Box 2326 Citrus Heights CA 95610 431988851 501(c)(3) 10000 Support for AFA Wings of Hope scholarships and eductational events NextEd One Capital Mall Suite 300 Sacramento CA 95814 680287387 501(c)(3) 10000 Support of regional education and ecomonic growth efforts Sacramento Symphony 1030 15th Street Sacramento CA 95814 911841406 501(c)(3) 10000 Support of local orchestra and music education programs 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 Sacramento Region Community Foundation 955 University Ave Suite A Sacramento CA 95825 942891517 501(c)(3) 8500 Support and coordination of community philanthropic activities National Association of Letter Carriers 6215 Watt Ave North Highlands CA 95660 946102878 501(c)(5) 6000 Support of annual letter carrier food drive 12 1 STUDENT SCHOLARSHIPS 10 10000 Schedule I, Part I, Line 2 Description Of Procedure 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 and approval. 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 and approval. X X true true X X X X false true false Chris Harris SVP/CFO 211528 0 27103 0 75001 0 17574 0 8682 0 339888 0 0 0 David Roughton PRES/COO 294820 0 32614 0 157376 0 20800 0 20189 0 525799 0 0 0 Henry Wirz CEO 452190 0 10400 0 5318 0 20800 0 11637 0 500345 0 0 0 Sharon Whiteley SVP/CCO 237684 0 31697 0 208000 0 20800 0 3055 0 501236 0 0 0 David Pope SVP/CTO 232451 0 41973 0 145202 0 20800 0 20536 0 460962 0 0 0 Jayne Anderson Sr. Mortgage Officer 231275 0 800 0 0 0 18624 0 8631 0 259330 0 0 0 Virginia Wade SVP, HR 175548 0 19385 0 131802 0 15594 0 5942 0 348271 0 0 0 Brandi Schaefer Sr. Mortgage Officer 269900 0 400 0 0 0 20800 0 3575 0 294675 0 0 0 Collene Crawford VP, Consumer Banking 168528 0 61530 0 0 0 18091 0 8021 0 256170 0 0 0 Dana Lanzaro Financial Advisor 211406 0 700 0 0 0 15885 0 13661 0 241652 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. 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 directors received this benefit and were issued a 1099-Misc: 1. Ronald Seaman - $4,300 2. James Jefferson - $2,335 3. Phillip Meserve - $2,213 4. James Hop - $1,051 5. Terrance Tremelling - $899 Schedule J, Part I, Line 1a Health or social club dues or initiation fees SAFE pays the membership dues to local social club for its CEO. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan 1. The credit union's President/COO, 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 2014 is $152,176. 3. The credit union's SVP/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 2014 is $75,001. 4. The credit union's SVP/CTO, David Pope, 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 2014 is $145,202. 5. The credit union's SVP/CCO, Sharon Whiteley, 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 2014 is $208,000. 6. The credit union's SVP,HR, Virginia Wade, 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 2014 is $131,802. 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 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. 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 SVP of Human Resources, the CEO and/or President. 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 of SAFE a means of reporting any complaint or inappropriate activities directly to the supervisory committee or directly to our regulator, the California Department of Financial Institutions. Lastly, SAFE's internal control structure is documented, reviewed an updated annually by management and tested by its external auditors. 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 2011, a comprehensive compensation study was conducted with a compensation consultant along with compensation software containing data from multiple market surveys. In addition, each year our third party vendor updates compensation ranges with current market data based on positions and grades, and adjustments are made as needed. This process affects all levels and positions within the organization. For the CEO position, additional executive compensation surveys are reviewed by the Executive Committee of the Board and are used for comparison purposes to ensure that competitive, market based ranges are in place. Form 990, Part VI, Line 15b Process to establish compensation of other employees In 2011, a comprehensive compensation study was conducted with a compensation consultant along with compensation software containing data from multiple market surveys. In addition, each year our third party vendor updates compensation ranges with current market data based on positions and grades, and adjustments are made as needed. This process affects all levels and positions within the organization. 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 at annual meetings and are available electronically 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.