Company Profile
SAFE Credit Union
Company Overview
For 70 years, SAFE Credit Union has contributed to the well-being of the community it serves. SAFE has delivered on the credit union credo “people helping people” through both offering the best financial resources and contributing to worthy organizations in Greater Sacramento. SAFE has a long and proud history of providing affordable products, convenient services, technological innovations, and exceptional member service.
Company History
The credit union was founded in 1940 in North Highlands, California, under the original charter name of Sacramento Air Depot (S.A.D.) Federal Credit Union. This unfortunate acronym changed in 1953 when S.A.D. was renamed Sacramento Air Force Employees Federal Credit Union. By 1959, the Board shortened the name to S.A.F.E. Federal Credit Union. And today, it’s simply called SAFE Credit Union.
In 1936, Congress authorized construction of Sacramento Air Depot for the production and repair of aircraft in Sacramento, California. The employees of the Sacramento Air Depot, seeking a place to save and borrow money at reasonable interest rates, organized to form a credit union in 1940. Under the guidance of Lance Barden of the California Credit Union League, a group of employees applied for a federal charter. The group was comprised of Oscar H. Nelson, Arthur C. Peterson, Cash C. Stall, Thomas G. Connelly, and Leo G. Flint. On July 18, 1940, the group received federal charter number 4014 and began operations on August 12, 1940.
By the end of 1940, the credit union had 275 members and assets of $7,000. In those days, the unsecured loan limit was $50 and share holdings were limited to $200 per member-owner.
The credit union began operation about one year before Pearl Harbor and our country's entrance into World War II. By 1944, membership had grown to 1,800 members and assets swelled to $30,000. Membership and assets continued to grow steadily from that point as base civilians took advantage of credit union membership. At the end of 1984, S.A.F.E. was ranked the 75th largest credit union of the 21,000 credit unions in the United States, with assets of nearly $143 million and a membership of approximately 40,000.
The full history of SAFE is a compendium of the vision, trials, and achievements of numerous dedicated board and committee volunteers, credit union employees, and active members. Today, SAFE celebrates membership of more than 150,000 members and more than $1.6 billion in assets. SAFE is the second largest credit union in the Sacramento region, within the largest 25 in California, and the largest 100 in the United States.
Benefits
Educational Reimbursement-
SAFE offers employees, who have six months of continuous service, tuition reimbursement for credit union, usiness-related classes or courses of study that lead to a related degree from an accredited college or university. The maximum amount of reimbursement changes annually.
Miscellaneous Benefits-
Wellness resources for employees. Employees who become SAFE members can receive free checking accounts, printed checks, traveler's checks, cashier's checks, notary service, safe deposit box, loan rate discounts and more!