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May 01, 2019 • 
  • News

SAFE Credit Union shares banner year with members at 2019 annual meeting

FOLSOM, Calif. (May 1, 2019) – SAFE Credit Union’s Board of Directors and executive leadership shared the credit union’s outstanding results in 2018 during the credit union’s 79th Annual Meeting held April 24, 2019, at SAFE headquarters in Folsom.

SAFE Board Chairman Terrance Tremelling told members that SAFE had a banner year with new records reached in both total assets and new loans granted to members. Chief Financial Officer Chris Harris and Chief Credit Officer Faye Nabhani outlined the credit union’s financial and operational performance for 2018, including:

  • Total membership grew to 231,000, a 5 percent increase over the prior year.
  • Total assets grew by 7 percent, to nearly $2.9 billion.
  • A 13 percent increase in total loans, the sixth straight year of double-digit loan growth, far exceeding the credit union industry average.
  • Altogether invested more than $1.24 billion in the community through home, vehicle, business, and personal loans.
  • Recorded $28.9 million in net income, a 43% increase over 2017.
  • Paid $9.8 million in dividends to members, a 27% increase from 2017.

 “SAFE had a very strong year in 2018 and we continue to see year-over-year growth,” Tremelling said. “We are proud to be able to serve our members with products and financial services that benefit their financial lives.”

About SAFE

SAFE Credit Union, established in 1940, is a leading financial institution in Northern California with $3 billion in assets and more than 231,000 members. The credit union provides a full range of financial solutions for consumers and small businesses through 21 service centers across the Greater Sacramento region and a mortgage lending office serving Contra Costa and Alameda counties. SAFE offers its members a variety of banking services, including online, chat, mobile, phone, as well as a full-service, locally based call center. SAFE is a not-for-profit, community-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. SAFE is federally insured by the NCUA. www.safecu.org

 

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