Safe Credit Union

“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 on deposits.”

“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 as needed.”

“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 and as outlined in the bylaws.”

“Per safe's bylaws, the board of directors may appoint an executive committee of the board of no fewer than three directors and delegate to such committee the power to approve membership applications. With the written approval of the commissioner, if delegated, the executive committee may act for the board of directors in the purchase and sale of securities, investment and withdrawal of funds, in borrowing funds and in making loans to other credit unions in accordance with applicable law and regulations. Also per the bylaws, the organization has an audit committee which is charged with certain powers and authorities to provide oversight of the credit union's operational & financial controls and compliance with regulations and policies. The board may delegate certain authorities to board committees or management, in accordance with the bylaws, board policies, and regulations. Discussions, decisions, and actions taken by committees are documented in minutes, in accordance with each committee's charter or policy.”

“Preparation of the Form 990 is coordinated through the company's Finance department and third-party 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.”

“Any instances of a conflict of interest that management becomes aware of is escalated to the EVP/Chief Human Resources Officer and the President/CEO. An investigation would be conducted to gather all the facts. Those facts would be used to determine the appropriate actions that are warranted. SAFE also has a formal process that provides employees a means of reporting any complaint or inappropriate activities directly to the Audit Committee or directly to our regulator, the California Department of Financial Protection and Innovation. Lastly, SAFE's internal control structure is documented, reviewed and updated annually by management and audited by its external and internal auditors. Internal controls are a vital part of helping to detect conflicts or inappropriate activity within the organization.”

“Annually, safe reviews current external market data. Adjustments may be made as needed based on the market-based salary and the individual's performance, experience, skills, and time in the role. This process affects all levels and positions within the organization. Further, executive compensation surveys are reviewed by the evp/chief human resources officer and are used for comparison purposes to ensure that competitive, market based ranges are in place. For the ceo, compensation is reviewed and approved by the executive committee of the board and a ceo compensation salary survey is obtained and research is performed to ensure compensation levels are competitive.”

“Annually, safe reviews current external market data. Adjustments may be made as needed based on the market-based salary and the individual's performance, experience, skills, and time in the role. This process affects all levels and positions within the organization. Further, executive compensation surveys are reviewed by the chief human resources officer and are used for comparison purposes to ensure that competitive, market based ranges are in place. For the ceo, compensation is reviewed and approved by the executive committee of the board and a ceo compensation salary survey is obtained and research is performed to ensure compensation levels are competitive.”

“Governing documents and conflict of interest policies are not made available to the public. Annual reports containing financial results for the last two fiscal years are provided 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 are available to the public via NCUA's website.”

“Securities and insurance fees - Total Revenue: 6473163, Related or Exempt Function Revenue: 6423953, Unrelated Business Revenue: 49210, Revenue Excluded from Tax Under Sections 512, 513, or 514: 0;”

“Financial planning services, insurance products and the participation in many community-related events and support of non-profit organizations.”