SAFE Credit Union

Last updated
SAFE Credit Union
Company type Credit Union
Industry Financial services
Founded(1940 (1940))
Headquarters
Folsom, California
,
US
Number of locations
20 branches (2022)
Key people
Faye Nabhani, President/CEO
ProductsSavings; checking; consumer loans; mortgage loans; credit cards; online banking; investments; insurance
Total assets US$4.5bn (2022)
Number of employees
773 (2022)
Website safecu.org

SAFE Credit Union is a state-chartered credit union [1] headquartered at Folsom, California. It has 20 branches [2] in the Greater Sacramento area. As of 2023, it was the second-largest credit union in the Sacramento area with $4.52 billion in assets. [3]

The credit union was founded in 1940 as the Sacramento Air Depot Federal Credit Union and originally served employees at the Sacramento Air Depot. By 1998, their members voted to convert to a state charter which changed the name to what it is today.

In 2007, the credit union acquired Capital Power Credit Union, founded in 1954, and rebranded its one location, retaining the staff. [4]

In 2009, the credit union announced a merger with Rancho Cordova-based American River HealthPro Credit Union which resulted in the closure of three of the four American River HealthPro credit union branches, and the rebranding of the fourth branch as a SAFE Credit Union branch. [5]

In 2019, the credit union acquired a 25 year naming rights for the area's convention center [6] and performing arts district. [7]

In 2023, Faye Nabhani [8] became the first female President & CEO of the credit union. [9]

Related Research Articles

<span class="mw-page-title-main">Sacramento, California</span> Capital city of California, United States

Sacramento is the capital city of the U.S. state of California and the county seat of Sacramento County. Located at the confluence of the Sacramento and American Rivers in Northern California's Sacramento Valley, Sacramento's 2020 population of 524,943 makes it the fourth-most populous city in Northern California, sixth-most populous city in the state, and the ninth-most populous state capital in the United States. Sacramento is the seat of the California Legislature and the Governor of California.

<span class="mw-page-title-main">Bank One Corporation</span> Former bank of the United States

Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, 2004, with its CEO Jamie Dimon taking the lead at the combined company. The company had its headquarters in the Bank One Plaza in the Chicago Loop in Chicago, Illinois, now the headquarters of Chase's retail banking division.

<span class="mw-page-title-main">U.S. Bancorp</span> American bank holding company

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.

<i>The Sacramento Bee</i> Daily newspaper in Sacramento, Calif., US

The Sacramento Bee is a daily newspaper published in Sacramento, California, in the United States. Since its foundation in 1857, The Bee has become the largest newspaper in Sacramento, the fifth largest newspaper in California, and the 27th largest paper in the U.S. It is distributed in the upper Sacramento Valley, with a total circulation area that spans about 12,000 square miles (31,000 km2): south to Stockton, California, north to the Oregon border, east to Reno, Nevada, and west to the San Francisco Bay Area.

<span class="mw-page-title-main">KXTV</span> ABC affiliate in Sacramento

KXTV is a television station in Sacramento, California, United States, affiliated with ABC. Owned by Tegna Inc., the station maintains studios on Broadway, just south of US 50 at the south edge of downtown Sacramento, and its transmitter is located in Walnut Grove, California.

KOVR is a television station licensed to Stockton, California, United States, serving as the CBS outlet for the Sacramento area. It is owned and operated by the network's CBS News and Stations division alongside independent station KMAX-TV. Both stations share studios on KOVR Drive in West Sacramento, while KOVR's transmitter is located in Walnut Grove, California.

<span class="mw-page-title-main">PNC Financial Services</span> Major bank based in Pittsburgh

The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is on the list of largest banks in the United States by assets and is one of the largest banks by number of branches, deposits, and number of ATMs.

<span class="mw-page-title-main">KSEE</span> NBC affiliate in Fresno, California

KSEE is a television station in Fresno, California, United States, affiliated with NBC. It is owned by Nexstar Media Group alongside CBS affiliate KGPE. The two stations share studios on McKinley Avenue in eastern Fresno; KSEE's transmitter is located on Bear Mountain.

<span class="mw-page-title-main">National Bank of Detroit</span> Defunct American commercial bank

The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.

<span class="mw-page-title-main">KeyBank</span> American regional bank headquartered in Cleveland, Ohio

KeyBank, the primary subsidiary of KeyCorp, is an American regional bank headquartered in Cleveland, Ohio. Key ranked 449th on the 2022 Fortune 500 list based on its 2021 revenue. It is 25th on the list of largest banks in the United States.

The Sacramento Convention Center Complex is a complex of entertainment venues and a convention center located in downtown Sacramento, California. The complex consists of the SAFE Credit Union Performing Arts Center, the Sacramento Memorial Auditorium, and the Jean Runyon Little Theater.

KUVS-DT is a television station licensed to Modesto, California, United States, broadcasting the Spanish-language Univision network to the Sacramento area. It is owned and operated by TelevisaUnivision alongside Stockton-licensed UniMás outlet KTFK-DT. The two stations share studios on Arden Way near Cal Expo in Sacramento; KUVS-DT's transmitter is located near Valley Springs, California.

<span class="mw-page-title-main">New York Community Bank</span> US Bank

New York Community Bancorp, Inc. (NYCB) is a bank holding company headquartered in Hicksville, New York. The holding company owns several businesses, most notably New York Community Bank and Flagstar Bank. In 2023, the two banks operated 395 branches in New York, Michigan, New Jersey, Ohio, Florida, Arizona and Wisconsin. Some branches bear the New York Community Bank name, while others operate under other names. NYCB is on the list of largest banks in the United States.

First Chicago Bank was a Chicago-based retail and commercial bank tracing its roots to 1863, when it received one of the first charters under the then new National Bank Act. Over the years, the bank operated under several names including The First National Bank of Chicago and First Chicago NBD. In 1998, First Chicago NBD merged with Banc One Corporation to form Bank One Corporation, today a part of Chase.

The Michigan State University Federal Credit Union (MSUFCU) is a credit union headquartered in East Lansing, Michigan. Primarily serving students and alumni of Michigan State University and Oakland University, MSUFCU is federally chartered and regulated by the National Credit Union Administration (NCUA). MSUFCU is the largest university-based credit union in the world, and the second-largest credit union in Michigan.

<span class="mw-page-title-main">Golden 1 Credit Union</span> Credit union in California

Golden 1 Credit Union is a credit union headquartered in Sacramento, California. Golden 1 currently serves its members throughout California with more than 70 branches and over 30,000 CO-OP ATMs nationwide.

DFCU Financial is a state-chartered credit union headquartered in Dearborn, Michigan, regulated by Michigan's Department of Licensing and Regulatory Affairs (LARA). DFCU Financial is one of Michigan's largest credit unions. As of October 2021, DFCU Financial had approximately $6 billion in assets, 232,000 members, and 27 branches in Metro Detroit, Ann Arbor, Grand Rapids and Lansing.

<span class="mw-page-title-main">American Fletcher National Bank</span> American bank

American Fletcher National Bank was an Indianapolis-based bank founded in 1839 that was eventually absorbed by Bank One and later Chase Bank. Since the merger of the Fletcher Trust Company with the American National Bank to form the American Fletcher National Bank and Trust Company at the end of 1954, it had been the largest or the second largest bank in the state of Indiana, often changing places with its Indianapolis-based rival Indiana National Bank for the top spot. From the mid-1950s through the late-1980s, American Fletcher National Bank and Trust, along with Indiana National Bank and Merchants National Bank, was one of the top three largest banks within Indianapolis and its holding company, American Fletcher Corporation, was one of the top three largest bank holding companies within the state, along with INB Financial Corporation and Merchants National Corporation.

<span class="mw-page-title-main">Texas Dow Employees Credit Union</span>

Texas Dow Employees Credit Union (TDECU) is a credit union based in Lake Jackson, Texas, with 38 service locations, including 34 member centers. TDECU is the largest Houston-area credit union, and fourth largest in the state of Texas, with over 372,000 members and assets of $4.7 billion as of April 2022. In 2014, they purchased the naming rights to the University of Houston Cougars football stadium, TDECU Stadium.

KCCC-TV was a television station on ultra high frequency (UHF) channel 40 in Sacramento, California, United States. Owned by the Capital City TV Corporation, KCCC-TV was Sacramento's first television outlet and broadcast from 1953 to 1957. However, the arrival of new very high frequency (VHF) stations, which unlike UHF outlets did not require special converters to tune on most television sets, limited the station's reach and programming. The station's demise was caused when Stockton's KOVR obtained the ABC affiliation by moving its transmitter; KCCC-TV's ownership then purchased a stake in KOVR and shut down channel 40.

References

  1. "State chartered credit union".
  2. "Number of branches".
  3. Hicks, Denise (31 Dec 2022). "Sacramento Area Credit Unions". The Sacramento Business Journal. Retrieved 11 Dec 2023.
  4. Smith, Darrell (23 June 2007). "SAFE to buy Capital Power". The Sacramento Bee. p. D1 via Newspapers.com.
  5. Downing, Jim (27 May 2008). "Health-Pro, SAFE credit unions announce merger". The Sacramento Bee. p. B8 via Newspapers.com.
  6. "Sacramento Convention Center and Performing Arts District".
  7. Bizjak, Tony (9 Aug 2019). "Credit union to pay $23 million for naming rights to two venues". The Sacramento Bee. p. A3.
  8. "President and CEO, Faye Nabhani".
  9. Diamond, Randy (19 November 2021). "Credit union CEO retiring, 1st female leader to take job". The Sacramento Bee. p. B6.