Form 990 for tax year 2024
Filed by SAFE 1 CREDIT UNION.
This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.
What the amendment changed
Compared with the latest return for 2024 , filed 17 December 2025. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.
Listed only on the earlier return
- Debbie Baker
- Jesse Tiwana
Listed only on the later return
- Doug Kileen
- Jeff Simpson
- Marie Rodriguez
- Micaela Venegas
Listed under a different title
- Brian Driesen: Director then Treasurer
- Carol Dobbs: EVP-Risk then EVP Risk
- Chris Hanson: VP-IT then VP IT
- Dawn Cole: Secretary then Chairman
- Mary Higgins: VP-Compliance then VP Compliance
- Maureen Buscher-Dang: Treasurer then Board Member
- Michael Bennett: Director then Secretary
- Mike Reed: Director then Board Member
- Ray Voight: Chairman then Board Member
- Richard Ruiz: Director then Vice Chair
- Ron Wolfe: Vice Chairman then Board Member
- Tracy Chitwood: Director then Board Member
- Vernon Powers: Director then Board Member
- Woody Morrison: Director then Board Member
Totals
- Total revenue
- $58,951,487
- Total expenses
- $45,235,986
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $39,626,507
- Investment income
- $7,393,843
- Other revenue
- $11,931,137
- Total assets, end of year
- $1,001,281,015
- Total liabilities, end of year
- $849,673,057
- Net assets or fund balances, end of year
- $151,607,958
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Interest on Loans
total $39,626,507 · related or exempt $39,626,507
-
3 · Investment income
total $7,393,843 · related or exempt $7,393,843
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Fee and Other Income
total $11,931,137 · related or exempt $11,809,301 · unrelated business $121,836
-
11e · Other revenue, total
$11,931,137
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $11,219,216
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $13,009,473
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $4,503,833
-
12 · Advertising and promotion
total $75,598
-
13 · Office expenses
total $4,603,923
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $2,213,477
-
17 · Travel
total $185,723
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $2,281,080
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: Provision for credit losses
total $4,708,107
-
24b · Other expenses: Other non-operating expense
total $1,038,173
-
24c · Other expenses: Loan Servicing Fees
total $930,454
-
24d · Other expenses: Other expenses
total $288,431
-
24e · All other expenses
total $178,498
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $14,641,965 · end of year $13,441,926
-
2 · Savings and temporary cash investments
beginning of year $131,361,010 · end of year $113,096,134
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $726,257,213 · end of year $748,301,781
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$35,325,672
-
10b · Land, buildings and equipment: accumulated depreciation
$16,998,911
-
10c · Land, buildings and equipment, net
beginning of year $15,971,216 · end of year $18,326,761
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $110,303,676 · end of year $63,143,355
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $38,910,136 · end of year $44,971,058
-
17 · Accounts payable and accrued expenses
beginning of year $117,372,074 · end of year $9,661,125
-
25 · Other liabilities
beginning of year $784,650,335 · end of year $840,011,932
-
31 · Retained earnings, endowment or other funds
beginning of year $135,422,807 · end of year $151,607,958
Mission and programs · 2024
Mission
Provided deposit and loan accounts to 81,521 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.
-
Provided deposit and loan accounts to 81,521 members. Provided low cost source of credit and low cost financial services to our members. Provided source for member savings and checking account needs.
As filed on the 2024 return.
Listed in Part VII
-
Ray Voight
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Ron Wolfe
Vice Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Maureen Buscher-Dang
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Dawn Cole
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Richard Ruiz
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brian Driesen
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael Bennett
Director
- Total calculated
- $0
- Hours/week
- 1
-
Woody Morrison
Director
- Total calculated
- $0
- Hours/week
- 1
-
Vernon Powers
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike Reed
Director
- Total calculated
- $0
- Hours/week
- 1
-
Serene Storslett
SC Chair
- Total calculated
- $0
- Hours/week
- 1
-
Tracy Chitwood
Director
- Total calculated
- $0
- Hours/week
- 2
-
Robert Dickson
SC Member
- Total calculated
- $0
- Hours/week
- 1
-
Jesse Tiwana
SC Member
- Total calculated
- $0
- Hours/week
- 1
-
David King
CEO/President
- Total calculated
- $0
- Hours/week
- 40
-
Cindy Wonderly
CFO/EVP-Finance
- Total calculated
- $0
- Hours/week
- 40
-
Michael George
EVP-Marketing
- Total calculated
- $0
- Hours/week
- 40
-
Timothy Spencer
EVP-Lending
- Total calculated
- $0
- Hours/week
- 40
-
Lorraine Townsend
EVP-Operations
- Total calculated
- $0
- Hours/week
- 40
-
Carol Dobbs
EVP-Risk
- Total calculated
- $0
- Hours/week
- 40
-
Mary Higgins
VP-Compliance
- Total calculated
- $0
- Hours/week
- 40
-
Chris Hanson
VP-IT
- Total calculated
- $0
- Hours/week
- 40
-
Debbie Baker
Branch Manager
- Total calculated
- $0
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533219349326403
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