SAFE Credit Union
TypeCredit Union
IndustryFinancial 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 assetsUS$4.5bn (2022)
Number of employees
773 (2022)
Websitesafecu.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]

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.
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