Safe Credit Union FY2020 filing

Not tax-deductible

Folsom, CAMutual-benefit / member-servingSince 1940Mutual / membership EIN 94-1179501Revenue $166.5M in FY2020

On file with the IRSsafecu.org2295 Iron Point Rd Ste 100, 95630-8767 · Folsom, CATax-exempt since Sep 1961

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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.

$15.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $26.1M a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$15.6M
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
66 mo
of spending, in cash
Looks good: 66.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.5B
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$166.5M
Spent
$148.8M
To programs
0%
Net assets
$330.5M
By yearFY2020–FY2025
Revenue
$166.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$166.5M
FY2021$162.1M
FY2022$183.1M
FY2023$229.8M
FY2024$254.7M
FY2025$243.9M
Expenses
$148.8M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$148.8M
FY2021$128.0M
FY2022$149.8M
FY2023$211.6M
FY2024$230.1M
FY2025$215.5M
Net assets
$330.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$330.5M
FY2021$353.6M
FY2022$289.3M
FY2023$310.1M
FY2024$345.1M
FY2025$396.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1961.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

50 people listed on the 990; $15.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
SR Mortgage Officer
$1,183,785Pt VII · Sec A
SR Mortgage Officer
$1,183,785Pt VII · Sec A
President/CEO
$1,005,778Pt VII · Sec A
President/CEO
$1,005,778Pt VII · Sec A
Mortgage Sales Team Lead
$739,510Pt VII · Sec A
Mortgage Sales Team Lead
$739,510Pt VII · Sec A
SR Mortgage Officer
$701,954Pt VII · Sec A
SR Mortgage Officer
$701,954Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Brandi Schaefer—$602,164$1,864,282$1,925,742$1,144,693$1,183,785
Faye Nabhani$1,237,729$1,202,025$968,909$666,860$526,886$655,028
David Roughton——$310,291$1,176,986$953,245$1,005,778
Damian Azimi$1,035,696$1,044,937$1,049,159$592,960—$517,424
Chris Harris$1,020,998$705,227$868,810$439,600$501,014$658,326
William G Erb—$123,012$309,936$979,083$609,337$739,510
Diane Hicks—$250,770$460,051$855,489$554,758$654,957
Justin Mendonca————$814,430$701,954

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Safe Credit Union executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II8 listed

Programs and updates

Helps members improve financial well-being and provides excellent service.

Questions for Safe Credit Union

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Provided by the organization

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4 programs · in their own filed words · FY2020
01

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.

Pt IX · col B
02

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.

Pt IX · col B
03

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.

Pt IX · col B
04

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.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$10K
Grants paid · 113 grants · $1.8M · 2020–2025
Improve Your Tomorrow INCCA · FY2025$22,500
City of Refuge SacramentoCA · FY2025$20,000
Unitemized GrantFY2025$12,000
Unitemized GrantFY2024$20,000
Women's EmpowermentCA · FY2024$20,000
Hacker Lab EduCA · FY2024$20,000
Sacramento County Office of EducationFY2024$7,400
See all 113 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$166.5M
Ln 12
Fees for servicesLn 2g$161.4M
Investment incomeLn 3$3.8M
Other incomeLn 4–11$1.3M
Money outPt IX
$148.8M
Ln 25
Owns and owesPt X
$330.5M
net assets · Ln 32
Cash and savingsLn 1–2$822.6M
Total assetsLn 16$3.8B
LiabilitiesLn 26$3.5B
PeoplePt VI, VII
50
listed · VII A
PaidVII A30
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$161.4M
Investment incomeLn 3$3.8M
Other incomeLn 4–11$1.3M
Total revenueLn 12$166.5M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$822.6M
Total assetsLn 16$3.8B
LiabilitiesLn 26$3.5B
Net assetsLn 32$330.5M
OperationsPt I, VI
EmployeesI 5796
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $243.9M$215.5M$28.5M$396.8M 990 PDF
FY2024 $254.7M$230.1M$24.6M$345.1M 990 PDF
FY2023 $229.8M$211.6M$18.2M$310.1M 990 PDF
FY2022 $183.1M$149.8M$33.3M$289.3M 990 PDF
FY2021 $162.1M$128.0M$34.1M$353.6M 990 PDF
FY2020 Viewing $166.5M$148.8M$17.7M$330.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2020 990 (1 part)
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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