2011-05-09T09:08:46-05:00 2010-12-31 RSM MCGLADREY INC 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2010-01-01 941179501 SAFE CREDIT UNION SAFE 9169714554 3720 MADISON AVENUE NORTH HIGHLANDS CA 95660 CHRIS HARRIS 9169714554 2011-05-06 1 COLLIN F BUZZELL 6125738750 2010 2016-03-07 17:11:31Z HENRY W WIRZ 3720 MADISON AVENUE NORTH HIGHLANDS CA 95660 102026406 0 1526 X WWW.SAFECU.ORG X 1940 CA SAFE CREDIT UNION'S MISSION IS TO HELP MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING, PROVIDE EXCELLENT SERVICE, AND ENSURE A FINANCIALLY SOUND CREDIT UNION. 9 9 530 5 1287461 0 0 0 86603420 91450637 8937480 8271230 8684859 1913430 104225759 101635297 554218 252955 17043884 14304623 24510001 26677471 0 0 0 53904386 52609908 96012489 93844957 8213270 7790340 1730511986 1695023052 1589439441 1550251390 141072545 144771662 X SAFE CREDIT UNION'S MISSION IS TO HELP MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING, PROVIDE EXCELLENT SERVICE, AND ENSURE A FINANCIALLY SOUND CREDIT UNION. 0 0 SAFE SHALL EXERCISE ALL THE POWERS OF A CORPORATION UNDER THE NONPROFIT MUTUAL BENEFIT CORPORATION LAW TO THE EXTENT PROVIDED BY SECTION 14100 OF THE FINANCIAL CODE. THE PURPOSE OF THE CORPORATION IS TO ENGAGE IN THE BUSINESS OF A CREDIT UNION AND ANY OTHER LAWFUL ACTIVITIES NOT PROHIBITED TO A CREDIT UNION BY APPLICABLE LAWS AND REGULATIONS. SAFE HAS SERVED THE SACRAMENTO AREA SINCE 1940, AND NOW HAS MEMBERSHIP SPANNING 12 COUNTIES IN NORTHERN CALIFORNIA. SAFE HAS 20 BRANCHES IN FOUR OF THESE COUNTIES: SACRAMENTO, PLACER, YOLO, AND EL DORADO. SAFE SERVES APPROXIMATELY 150,000 MEMBERS. SAFE OFFERS DEPOSITORY, LENDING, AND OTHER FINANCIAL PRODUCTS AND SERVICES TO HELP ITS MEMBERS IMPROVE THEIR FINANCIAL WELL-BEING. AS A NON-PROFIT, SAFE IS ABLE TO DELIVER BENEFITS TO ITS MEMBERSHIP THROUGH LOWER LOAN RATES AND HIGHER DEPOSIT RATES. IN ADDITION, SAFE MEMBERS ENJOY THE FOLLOWING BENEFITS: ACCESS TO 25,000 ATMS NATIONWIDE, ACCESS TO 2,500 SHARED BRANCH LOCATIONS NATIONWIDE, ABILITY TO PERFORM POINT-OF-SALE (POS) TRANSACTIONS, FREE ONLINE BANKING AND BILL PAY, FINANCIAL MANAGEMENT TOOLS, AND EARLY PAYDAY WITH DIRECT DEPOSIT. SAFE OFFERS A VARIETY OF DEPOSIT PRODUCTS INCLUDING: SAVINGS, CHECKING, MONEY MARKET, CERTIFICATE, RETIREMENT, BUSINESS, HOLIDAY CLUB, 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. SAFE'S DEPOSIT RATES ARE VERY COMPETITIVE WITH THE MARKET AND ARE TYPICALLY HIGHER THAN BANKS. SAFE'S FEATURES BOTH LOW AND NO-COST CHECKING PRODUCTS AS WELL AS THOSE WITH HIGHER DIVIDEND RATES. MEMBERS CAN TRANSFER FUNDS FROM ONE DEPOSIT PRODUCT OR ACCOUNT TO ANOTHER QUICKLY AND SEAMLESSLY THROUGH OUR ONLINE BANKING AND TELEPHONE SYSTEMS. SAFE OFFERS A VARIETY OF LOW-RATE LOAN PRODUCTS TO HELP MEMBERS WITH THEIR FINANCING NEEDS. AVAILABLE LOAN PRODUCTS INCLUDE: AUTO LOANS, REAL ESTATE MORTGAGE LOANS, HOME EQUITY LINES OF CREDIT, HOME IMPROVEMENT LOANS, VISA CREDIT CARDS, SMALL BUSINESS LOANS, STUDENT LOANS, AND OTHER SECURED AND UNSECURED LOANS. FINANCIAL PLANNING SERVICES, INSURANCE PRODUCTS, AND THE PARTICIPATION IN MANY COMMUNITY-RELATED EVENTS AND SUPPORT OF NON-PROFIT ORGANIZATIONS. 0 0 1 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39322 0 1 530 1 1 1 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X CHRIS HARRIS 9169714554 3720 MADISON AVENUE NORTH HIGHLANDS CA 956605024 RONALD J SEAMAN 15.00 X X 0 0 0 PHILLIP A MESERVE 8.00 X X 0 0 0 DONALD F HUG 8.00 X X 0 0 0 KATHERN L GASKINS 13.00 X X 0 0 0 JAMES JEFFERSON 6.00 X X 0 0 0 JAMES W HOPP 5.00 X 0 0 0 HERB LONG 4.00 X 0 0 0 TERRANCE TREMELLING 6.00 X 0 0 0 BRYAN K PEPPERS 8.00 X 0 0 0 HENRY W WIRZ 40.00 X 398564 0 247099 DAVID F ROUGHTON 40.00 X 256224 0 2317 CHRIS HARRIS 40.00 X 130876 0 1332 DAVID D POPE 40.00 X 189563 0 10456 SHARON K WHITELEY 40.00 X 167258 0 2445 VIRGINIA L WADE 40.00 X 139349 0 5401 PAUL RIGDON 40.00 X 131072 0 11115 JAMES ALLEN 40.00 X 131717 0 1367 DANA COCHRAN-LANZARO 40.00 X 171583 0 7796 WILLIAM SIMMONS 40.00 X 139575 0 11791 1855781 0 301119 10 0 1 0 BENEFIT & RISK MANAGEMENT SERVICES PO BOX 2650 RANCHO CORDOVA CA 95741 BENEFIT MANAGEMENT SERVICES/MEDICAL INSU 3082035 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 ONLINE BANKING SERVICES 1383131 FISERV 4500 SW RESEARCH WAY CORVALLIS OR 97333 INFORMATION SYSTEMS 719856 BRINK'S INC PO BOX 619031 DALLAS TX 752619031 ARMORED CAR TRANSPORT 700474 AT&T PAYMENT CENTER SACRAMENTO CA 958870001 PHONE & INTERNET 669245 40 INTEREST ON LOANS TO M 522100 64567973 64567973 ACCOUNT SERVICE FEES 522100 10654921 10654921 ATM AND DEBIT CARD FEE 522100 10634003 9871270 762733 LOAN FEES 522100 3755296 3755296 SECURITIES & INSURANCE 522100 1838444 1574156 264288 91450637 8213589 8213589 138190 66220 71970 71970 71970 382530 324889 382530 -324889 57641 57641 OTHER NON-INTEREST INC 522100 1841460 1581020 260440 1841460 101635297 92076606 1287461 8271230 242955 10000 14304623 1406135 19739439 704456 3054410 1773031 220799 151407 66939 269280 1241033 4498913 7103120 3190526 65649 153182 10836 3373629 263817 PROVISION FOR LOAN LOSS 24483177 MISCELLANEOUS EXPENSE 2866609 NCUSIF EXPENSE 2376654 LOAN SERVICING EXPENSE 2274338 93844957 100975086 152441026 1034827450 979698158 70773364 36891613 36697476 33881751 479251619 443752491 16038986 14975580 62721369 70274046 1730511986 1695023052 9421315 10314559 439000 502000 1579579126 1539434831 1589439441 1550251390 X 0 0 0 0 141072545 144771662 141072545 144771662 1730511986 1695023052 X 7790340 -4091222 X 0 1 1 X 0 25090 19090 6000 25090 1 CALIFORNIA CREDIT UNION LEAGUE PAC 1201 K ST SUITE 1050 SACRAMENTO CA 95814 942329967 6000 ORGANIZATIONS DIRECT AND INDIRECT POLITICAL CAMPAIGN ACTIVITIES: PART I-A, LINE 1: SAFE IS A COMMUNITY-BASED CREDIT UNION THAT HAS SIGNIFICANT INTERFACE WITH LOCAL, STATE, AND FEDERAL GOVERNMENT OFFICIALS AND ENTITIES. WE PARTICIPATE IN THE POLITICAL PROCESS SO WE HAVE AN OPPORTUNITY TO PROVIDE INPUT ON LEGISLATION THAT AFFECTS CREDIT UNIONS. 0 1 7136755 7136755 31544096 9226580 22317516 3253847 2072439 1181408 28838666 25592594 3246072 33881751 OTHER INVESTMENTS 36877005 C AVAILABLE FOR SALE SECURITIES 406866308 F HELD-TO-MATURITY SECURITIES 9178 C 443752491 MEMBERS' SHARE ACCOUNTS 1534434475 PUBLIC UNIT SHARES 5000356 1539434831 101635297 93844957 7790340 -4091222 -4091222 3699118 101701517 0 101701517 -66220 -66220 101635297 93911177 0 93911177 -66220 -66220 93844957 PART IV, LINE 2B: THE CREDIT UNION HOLDS FUNDS IN ESCROW TO PAY REAL ESTATE TAXES AND INSURANCE ON BEHALF OF ITS MORTGAGE LOAN MEMBERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS DETERMINED THAT NO LIABILITY EXISTS FROM FEDERAL OR STATE TAXATION OF ACTIVITIES DEEMED TO BE UNRELATED TO ITS EXEMPT PURPOSE. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE RECLASSIFIED TO REVENUE -66,220. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE RECLASSIFIED TO REVENUE -66,220. 1 KVIE 941421463 501(C)3 30000 ANNUAL SPONSORSHIP OF VIEW FINDER EVENT AND EDUCATIONAL TELEVISION PROGRAMMING SUPPORT AEROSPACE MUSEUM OF CA 942831253 501(C)3 39495 SPACE: DARE TO DREAM-EDUCATION SPONSOR AND OTHER COMMUNITY-RELATED SUPPORT SACRAMENTO COUNTY OFFICE OF DECATHALONS 946002536 GOVERNMENT 10000 ANNUAL SPONSORSHIP OF ACADEMIC DECATHLON EDUCATION FOUNDATION FOR AEROSPACE 431988851 501(C)3 7930 AFA WINGS OF HOPE SUPPORT FOR EDUCATIONAL AND SCHOLARSHIP EVENTS FIRST TEE OF GREATER SACRAMENTO 680023502 501(C)3 28500 SPONSORSHIP OF FIRST TEE ORGANIZATION UCD HEALTH SYSTEM 946036494 501(C)(3) 21165 SPONSORSHIP OF UC DAVIS STUDENT SCHOLARSHIPS AND PARTICIPATION IN OTHER FUNDRAISING EVENTS. AMERICAN HEART ASSOCIATION 135613797 501(C)(3) 11536 GO RED FOR WOMEN SPONSORSHIP CAPITAL AIRSHOW GROUP 743212900 501(C)(3) 10000 SUPPORT OF ANNUAL AIRSHOW SEROTONIN SURGE CHARITIES 680411254 501(C)(3) 10000 ANNUAL SPONSORSHIP OF FUNDRAISING ACTIVITIES TO SUPPORT HEALTH CARE CLINICS AND STUDENT SCHOLARSHIPS TWIN RIVERS SCHOOL DISTRICT 261773196 GOVERNMENT 7175 ANNUAL SPONSORSHIP OF ACADEMIC DECATHLON JUNIOR ACHIEVEMENT OF SACRAMENTO 946080866 501(C)(3) 6000 FINANCIAL LITERARARY PARTNERSHIP IN HIGH SCHOOLS 9 2 STUDENT SCHOLARSHIPS 10 10000 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: COMMUNITY DONATIONS AND CONTRIBUTIONS ARE REVIEWED AND APPROVED BY SAFE'S EXECUTIVE MANAGEMENT PRIOR TO DISBURSEMENT. ALL DONATIONS AND CONTRIBUTIONS ARE REPORTED TO SAFE'S BOARD OF DIRECTORS ON A MONTHLY BASIS FOR THEIR REVIEW AND APPROVAL. X 1 1 X X X X 0 0 0 HENRY W WIRZ 365719 0 25643 0 7202 0 235932 0 11167 0 645663 0 0 0 DAVID F ROUGHTON 231845 0 16033 0 8346 0 0 0 2317 0 258541 0 0 0 DAVID D POPE 176949 0 12614 0 0 0 0 0 10456 0 200019 0 0 0 SHARON K WHITELEY 156429 0 10829 0 0 0 0 0 2445 0 169703 0 0 0 DANA COCHRAN-LANZARO 34559 0 10529 0 126495 0 0 0 7796 0 179379 0 0 0 WILLIAM SIMMONS 30438 0 5526 0 103611 0 0 0 11791 0 151366 0 0 0 PART I, LINE 1A SAFE CU PAYS THE MEMBERSHIP DUES TO A LOCAL SOCIAL CLUB FOR ITS CEO. PART I, LINE 1B THE BUSINESS PURPOSE OF THIS MEMBERSHIP IS TO FACILITATE EVENTS FOR THE CREDIT UNION'S CEO AND BUSINESS ASSOCIATES. MEMBERSHIP DUES ARE INVOICED DIRECTLY TO SAFE ON A MONTHLY BASIS AND APPROVED IN ACCORDANCE WITH COMPANY EXPENSE POLICIES. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11 PREPARATION OF THE FORM 990 IS COORDINATED THROUGH THE COMPANY'S FINANCE DEPARTMENT AND TAX PREPARER. INFORMATION IS REQUESTED FROM AND GATHERED BY SEVERAL FUNCTIONAL AREAS AND EXECUTIVE MANAGEMENT TO ASSIST IN THE COMPLETION OF THE FORM. THROUGHOUT THE PROCESS, QUESTIONS ARE DISCUSSED WITH THE TAX PREPARER AND RESOLUTIONS ARE INCORPORATED INTO THE RETURN AS APPROPRIATE. ONCE COMPLETED, EXECUTIVE MANAGEMENT REVIEWS THE FORM FOR ACCURACY AND REASONABLENESS. THE COMPLETED FORM IS THEN PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING. ANY QUESTIONS OR ISSUES RAISED BY THE BOARD ARE ADDRESSED AND APPROVED PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY INSTANCES OF A CONFLICT OF INTEREST THAT MANAGEMENT BECOMES AWARE OF IS ESCALATED TO THE SVP OF HUMAN RESOURCES, THE CEO, AND/OR EVP. AN INVESTIGATION WOULD BE CONDUCTED TO GATHER ALL OF THE FACTS. THOSE FACTS WOULD BE USED TO DETERMINE THE APPROPRIATE ACTIONS THAT ARE WARRANTED. SAFE ALSO HAS A FORMAL PROCEDURE THAT PROVIDES EMPLOYEES OF SAFE A MEANS OF REPORTING ANY COMPLAINT OR INAPPROPRIATE ACTIVITIES DIRECTLY TO THE SUPERVISORY COMMITTEE OR DIRECTLY TO OUR REGULATOR, THE CALIFORNIA DEPARTMENT OF FINANCIAL INSTITUTIONS. LASTLY, SAFE'S INTERNAL CONTROL STRUCTURE IS DOCUMENTED, REVIEWED AND UPDATED ANNUALLY BY MANAGEMENT AND TESTED BY ITS EXTERNAL AUDITORS. INTERNAL CONTROLS ARE A VITAL PART OF HELPING TO DETECT CONFLICTS OR INAPPROPRIATE ACTIVITY WITHIN THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15 APPROXIMATELY EVERY TWO YEARS SAFE ENGAGES THE SERVICES OF A COMPENSATION CONSULTANT TO BENCHMARK KEY POSITIONS AND REPORT MARKET DATA BACK TO SAFE WITH RECOMMENDATIONS. MOST RECENTLY, IN EARLY 2008, APPROXIMATELY 5 SURVEYS WERE USED TO COMPILE MARKET DATA. SAFE SET SALARY RANGE MIDPOINTS AT THE WEIGHTED AVERAGE OF THE MARKET DATA REPORTED BY OUR CONSULTANT. SAFE THEN ADJUSTS SALARIES, IF NECESSARY, TO MAKE SURE THAT FULLY SKILLED AND TRAINED KEY EMPLOYEES ARE RECEIVING COMPENSATION AT OR NEAR RANGE MID-POINT. COMPENSATION OF KEY EMPLOYEES WHO HAVE BEEN IN THE POSITION FOR AN EXTENDED PERIOD AND WHO EXCEED EXPECTATIONS MAY EXCEED THE SALARY RANGE MID-POINT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. ANNUAL REPORTS CONTAINING CONDENSED AUDITED FINANCIAL STATEMENTS ARE PROVIDED AT ANNUAL MEETINGS AND AVAILABLE ELECTRONICALLY ON SAFE'S WEBSITE. COMPLETE AUDITED FINANCIAL STATEMENTS ARE ALSO PROVIDED ON THE COMPANY'S WEBSITE ANNUALLY. LASTLY, SAFE'S REGULATORY 5300 CALL REPORTS ARE FILED QUARTERLY AND AVAILABLE TO THE PUBLIC VIA NCUA'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,091,222.