Civic Intelligence

Safe Credit Union

EIN 74-0504720 • 501(c)14 • Beaumont, TX

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Profile

SAFE Credit Union is a voluntary, cooperative, nonprofit financial institution established for the purposes of encouraging thrift among its members, creating a source of credit at fair and reasonable rates of interest, providing an opportunity for its members to use and control their own money in order to improve their economic and social conditions, and conducting any other business, engaging in any other activity, and providing any other service that may be of benefit to its members subject to the Texas Credit Union Act and Commission rules adopted thereunder.

7025 Eastex FrwyBeaumont, TX 77706

www.safecubmt.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

81st percentile

0.91x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

45th percentile

17.07x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2017

Net Margin

19th percentile

-8.6%

Higher net margin than 19% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

62nd percentile

$40,758

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

$10M-$25M nonprofits • Source year 2015

Asset Growth

57th percentile

1.1%

Faster asset growth than 57% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

16th percentile

-5.4%

Faster revenue growth than 16% of similar nonprofits.

501(c)14 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$11,433,549

Up $118,832 (+1.1%) from 2016

Liabilities

Up

$10,377,850

Up $171,003 (+1.7%) from 2016

Net Assets

Down

$1,055,699

Down $52,171 (-4.7%) from 2016

Operations
Liabilities / Revenue45th percentileNet Margin19th percentile

Revenue

Down

$608,043

Down $34,640 (-5.4%) from 2016

Expenses

Up

$660,214

Up $615 (+0.1%) from 2016

Net Income

Down

-$52,171

Down $35,255 (-208%) from 2016

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $10,558,781Liabilities 2010: $8,949,010Net Assets 2010: $1,609,7712010Assets 2011: $10,779,066Liabilities 2011: $9,288,290Net Assets 2011: $1,490,7762011Assets 2012: $11,417,806Liabilities 2012: $10,021,685Net Assets 2012: $1,396,1212012Assets 2013: $11,578,521Liabilities 2013: $10,202,521Net Assets 2013: $1,376,0002013Assets 2014: $11,162,577Liabilities 2014: $9,886,607Net Assets 2014: $1,275,9702014Assets 2015: $11,560,551Liabilities 2015: $10,435,765Net Assets 2015: $1,124,7862015Assets 2016: $11,314,717Liabilities 2016: $10,206,847Net Assets 2016: $1,107,8702016Assets 2017: $11,433,549Liabilities 2017: $10,377,850Net Assets 2017: $1,055,6992017

Highlighted filing

2017

Assets$11,433,549
Liabilities$10,377,850
Net Assets$1,055,699
Open 2017 Filing

Operations Trend

Revenue Growth16th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $822,9172010Expenses 2011: $843,0872011Revenue 2012: $699,102Expenses 2012: $793,757Net Income 2012: -$94,6552012Revenue 2013: $632,158Expenses 2013: $652,279Net Income 2013: -$20,1212013Revenue 2014: $588,735Expenses 2014: $665,886Net Income 2014: -$77,1512014Revenue 2015: $594,037Expenses 2015: $745,221Net Income 2015: -$151,1842015Revenue 2016: $642,683Expenses 2016: $659,599Net Income 2016: -$16,9162016Revenue 2017: $608,043Expenses 2017: $660,214Net Income 2017: -$52,1712017

Highlighted filing

2017

Revenue$608,043
Expenses$660,214
Net Income-$52,171
Open 2017 Filing

Filings

Most recent year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,433,549
Liabilities
$10,377,850
Net assets
$1,055,699
Revenue
$608,043
Expenses
$660,214
Net income
-$52,171
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$11.4$10.4$1.06$0.61$0.66$0.05
2016Detailed filing. Detailed filing data is available for this year.$11.3$10.2$1.11$0.64$0.66$0.02
2015Detailed filing. Detailed filing data is available for this year.$11.6$10.4$1.12$0.59$0.75$0.15
2014Detailed filing. Detailed filing data is available for this year.$11.2$9.89$1.28$0.59$0.67$0.08
2013Detailed filing. Detailed filing data is available for this year.$11.6$10.2$1.38$0.63$0.65$0.02
2012Summary only. Only limited summary data is available for this year.$11.4$10.0$1.40$0.70$0.79$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.8$9.29$1.49$0.84
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$8.95$1.61$0.82
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.2
Gross Receipts
$608,043
Mission and Program Overview

Mission

SAFE Credit Union is a voluntary, cooperative, nonprofit financial institution established for the purposes of encouraging thrift among its members, creating a source of credit at fair and reasonable rates of interest, providing an opportunity for its members to use and control their own money in order to improve their economic and social conditions, and conducting any other business, engaging in any other activity, and providing any other service that may be of benefit to its members subject to the Texas Credit Union Act and Commission rules adopted thereunder.

Cooperative, nonprofit financial institution providing credit union financial services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$4,463,873$3,996,977▼ $466,896
Savings and Temporary Cash Investments$2,335,000$3,649,000▲ $1,314,000
Cash and Non-Interest-Bearing Accounts$1,299,793$2,498,517▲ $1,198,724
Rtn Earn Endowment Incm Other Fnds$1,107,870$1,055,699▼ $52,171
Investments Other Securities$2,706,317$804,317▼ $1,902,000
Land, Buildings, and Equipment, Net$330,475$328,506▼ $1,969
Prepaid Expenses and Deferred Charges$46,204$30,069▼ $16,135
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$11,314,717$11,433,549▲ $118,832
Other Assets Total$133,055$126,163▼ $6,892
Liabilities
Other Liabilities$10,081,457$9,996,950▼ $84,507
Accounts Payable and Accrued Expenses$125,390$380,900▲ $255,510
Total Liabilities$10,206,847$10,377,850▲ $171,003
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,107,870$1,055,699▼ $52,171
Total Liabilities and Net Assets / Fund Balance$11,314,717$11,433,549▲ $118,832

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$236,927$230,623$467,550
Equipment$4,459$158,131$162,590
Land$87,120-$87,120
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Molly HandyCEOFT$66,718$66,718
Kay CarmonPast PresidentFT$60,443$60,443

Board Members and Trustees

NameTitle
Georgine GuilloryChairman
Deborah ScrogginsVice Chair
Dolores SennetteDirector
Doug CarrierDirector
Ed ClarkDirector
Elaine MooreDirector
Leroy HenryDirector
Gaylene GaspardSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$524,534
Investment Income
$69,466
Other Revenue
$14,043
Change in Net Assets
$-52,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$364,448
Salaries, Compensation, and Employee Benefits$295,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$127,161
Other Salaries and Wages---$106,285
Information Technology---$101,072
Fees for Services Other---$62,125
Occupancy---$49,659
Other Employee Benefits---$34,694
Insurance---$27,223
Office Expenses---$25,590
Payroll Taxes---$22,739
Depreciation Depletion---$21,568
Interest---$17,323
Fees for Services Accounting---$9,072
Payments to Affiliates---$6,633
Advertising---$5,088
Pension Plan Contributions---$4,887
Travel---$4,861
Fees for Services Legal---$3,997
Conferences and Meetings---$1,286
Other Expenses---$880
All Other Expenses---$-8,662
Total Functional Expenses$0$0$0$660,214
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member share accounts$7,004,257
Member share draft accounts$2,209,282
Member certificates of deposit$783,411
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of the Form 990 is provided to each member of SAFE Credit Union's Board of Directors. Questions and comments are then submitted to the CEO for further discussion with the preparer and follow-up response back to the Board of Directors for final approval.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Officers and directors are required to file annual conflict of interest disclosure statements.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“SAFE Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
SAFE Credit Union
EIN
74-0504720
Phone
4098968508
Address
7025 Eastex Frwy, Beaumont, TX 77706

Signing Officer

Name
Phyllis Pickering
Title
VP - Accounting
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Formed
1931
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
6
Volunteers
10

Preparer

Firm
Wathen DeShong & Juncker LLP
Address
4140 Gladys Avenue Suite 101, Beaumont, TX 77706-3648
Preparer
Michael W Kiefer
Phone
4098381605
Raw XML Appendix392 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt0133055
IRS990/OtherAssetsTotalGrp/EOYAmt0126163
IRS990/OtherEmployeeBenefitsGrp/TotalAmt034694
IRS990/OtherExpensesGrp/Desc0Loan/Credit servicing fees
IRS990/OtherExpensesGrp/Desc1Miscellaneous
IRS990/OtherExpensesGrp/Desc2Postage and Shipping
IRS990/OtherExpensesGrp/Desc3Education/development
IRS990/OtherExpensesGrp/TotalAmt016922
IRS990/OtherExpensesGrp/TotalAmt116527
IRS990/OtherExpensesGrp/TotalAmt23284
IRS990/OtherExpensesGrp/TotalAmt3880
IRS990/OtherLiabilitiesGrp/BOYAmt010081457
IRS990/OtherLiabilitiesGrp/EOYAmt09996950
IRS990/OtherRevenueMiscGrp/BusinessCd0522291
IRS990/OtherRevenueMiscGrp/Desc0Nonoperating revenue
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt0106285
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04463873
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03996977
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt06633
IRS990/PayrollTaxesGrp/TotalAmt022739
IRS990/PensionPlanContributionsGrp/TotalAmt04887
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt046204
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt030069
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0525990
IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
IRS990/ProgramServiceRevenueGrp/Desc0Fees & charges
IRS990/ProgramServiceRevenueGrp/Desc1Interest on loans
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0245556
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1278978
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0245556
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1278978
IRS990/ProgSrvcAccomActy2Grp/Desc0SAFE Credit Union provides free share draft (checking) accounts to all members, business accounts, and limited free checks to senior citizens. The credit union had 860 share draft accounts as of December 31, 2017. Additionally, the credit union extends the reach of these accounts to all members with free debit and ATM cards, Internet account access, and the use of the automated phone teller.
IRS990/ProgSrvcAccomActy3Grp/Desc0SAFE Credit Union provides vehicle and other consumer loans. The consumer loan product line includes efficient underwriting and flexible offerings for recreational vehicles, boats, and motorcycles. Consumer credit life and disability insurance is available on any of these loan types. The credit union originated 386 new loans in 2017.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt054018
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0378782
IRS990/PYOtherRevenueAmt036406
IRS990/PYProgramServiceRevenueAmt0552259
IRS990/PYRevenuesLessExpensesAmt0-16916
IRS990/PYSalariesCompEmpBnftPaidAmt0280817
IRS990/PYTotalExpensesAmt0659599
IRS990/PYTotalRevenueAmt0642683
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-52171
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt014043
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01055699
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02335000
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IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0236927
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0230623
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0467550
IRS990ScheduleD/EquipmentGrp/BookValueAmt04459
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0158131
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0162590
IRS990ScheduleD/LandGrp/BookValueAmt087120
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt087120
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0783411
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17004257
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22209282
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member certificates of deposit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Member share accounts
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Member share draft accounts
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0328506
IRS990ScheduleD/TotalBookValueSecuritiesAmt0804317
IRS990ScheduleD/TotalLiabilityAmt09996950
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the Form 990 is provided to each member of SAFE Credit Union's Board of Directors. Questions and comments are then submitted to the CEO for further discussion with the preparer and follow-up response back to the Board of Directors for final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Officers and directors are required to file annual conflict of interest disclosure statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SAFE Credit Union makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011314717
IRS990/TotalAssetsEOYAmt011433549
IRS990/TotalAssetsGrp/BOYAmt011314717
IRS990/TotalAssetsGrp/EOYAmt011433549
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0660214
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010206847
IRS990/TotalLiabilitiesEOYAmt010377850
IRS990/TotalLiabilitiesGrp/BOYAmt010206847
IRS990/TotalLiabilitiesGrp/EOYAmt010377850
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01107870
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01055699
IRS990/TotalProgramServiceRevenueAmt0524534
IRS990/TotalReportableCompFromOrgAmt0127161
IRS990/TotalRevenueGrp/ExclusionAmt083509
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0524534
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0608043
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011314717
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011433549
IRS990/TravelGrp/TotalAmt04861
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Phyllis Pickering
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VP - Accounting
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SAFE Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0SAFE
ReturnHeader/Filer/EIN0740504720
ReturnHeader/Filer/PhoneNum04098968508
ReturnHeader/Filer/USAddress/AddressLine1Txt07025 Eastex Frwy
ReturnHeader/Filer/USAddress/CityNm0Beaumont
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077706
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0741694817
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Wathen DeShong & Juncker LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04140 Gladys Avenue Suite 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Beaumont
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0777063648
ReturnHeader/PreparerPersonGrp/PhoneNum04098381605
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Michael W Kiefer
ReturnHeader/ReturnTs02018-11-13T11:11:20-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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