Nonprofit · EIN 95-1812302
SAFE 1 CREDIT UNION
Tax-exempt · BAKERSFIELD, CA 93311
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $58,951,487 | $45,235,986 | $13,715,501 | $1,001,281,015 | $849,673,057 | $151,607,958 |
| December 31, 2023 | 990 | $47,057,316 | $34,255,595 | $12,801,721 | $1,037,445,216 | $902,022,409 | $135,422,807 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $39,626,507
- Investment income
- $7,393,843
- Other revenue
- $11,931,137
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $11,219,216
- Compensation of officers, directors and key employees
- $1,930,980
- Other salaries and wages
- $11,078,493
- Salaries, compensation and benefits (total)
- $13,009,473
- Professional fundraising fees
- $0
- Occupancy
- $2,213,477
- Travel
- $185,723
Balance sheet and other
- Total assets, start of year
- $1,037,445,216
- Total assets, end of year
- $1,001,281,015
- Total liabilities, end of year
- $849,673,057
- Net assets, end of year
- $151,607,958
- Land, buildings and equipment
- $18,326,761
- Gross unrelated business income
- $121,836
- Gross receipts
- $58,951,487
- Employees
- 152
- Volunteers
- 14
- Year formed
- 1952
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David King | CEO/President Officer | 40 | $360,892 | $288,645 |
| Cindy Wonderly | CFO/EVP-Finance Officer | 40 | $255,100 | $59,723 |
| Lorraine Townsend | EVP-Operations | 40 | $243,450 | $32,648 |
| Michael George | EVP-Marketing | 40 | $218,364 | $56,784 |
| Timothy Spencer | EVP-Lending | 40 | $234,274 | $31,914 |
| Mary Higgins | VP Compliance | 40 | $149,575 | $39,626 |
| Jeff Simpson | VP Finance | 40 | $138,790 | $45,057 |
| Carol Dobbs | EVP Risk | 40 | $156,225 | $25,670 |
| Chris Hanson | VP IT | 40 | $165,946 | $13,276 |
| Micaela Venegas | IT Supervisor | 40 | $147,404 | $24,344 |
| Marie Rodriguez | VP Call Center | 40 | $126,950 | $23,328 |
| Richard Ruiz | Vice Chair Trustee or director | 2 | $2,314 | $0 |
| Brian Driesen | Treasurer Trustee or director | 2 | $2,179 | $0 |
| Tracy Chitwood | Board Member Trustee or director | 2 | $1,743 | $0 |
| Serene Storslett | SC Chair Trustee or director | 1 | $1,085 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mike Reed | Board Member Trustee or director | 2 | $849 |
| Ray Voight | Board Member Trustee or director | 2 | $0 |
| Ron Wolfe | Board Member Trustee or director | 2 | $0 |
| Maureen Buscher-Dang | Board Member Trustee or director | 2 | $0 |
| Dawn Cole | Chairman Trustee or director | 2 | $0 |
| Michael Bennett | Secretary Trustee or director | 2 | $0 |
| Woody Morrison | Board Member Trustee or director | 2 | $0 |
| Vernon Powers | Board Member Trustee or director | 2 | $0 |
| Robert Dickson | SC Member Trustee or director | 1 | $0 |
| Doug Kileen | SC Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| David King | CEO/President Officer | 40 | $419,226 | $24,338 |
| Carol Dobbs | EVP-Risk | 40 | $317,483 | $20,540 |
| Cindy Wonderly | CFO/EVP-Finance Officer | 40 | $287,422 | $19,421 |
| Michael George | EVP-Marketing | 40 | $247,138 | $16,260 |
| Timothy Spencer | EVP-Lending | 40 | $240,268 | $17,781 |
| Lorraine Townsend | EVP-Operations | 40 | $230,568 | $16,911 |
| Mary Higgins | VP-Compliance | 40 | $169,619 | $10,763 |
| Chris Hanson | VP-IT | 40 | $163,827 | $5,775 |
| Debbie Baker | Branch Manager | 40 | $153,074 | $9,591 |
| Tracy Chitwood | Director Trustee or director | 2 | $2,694 | $0 |
| Richard Ruiz | Director Trustee or director | 1 | $2,154 | $0 |
| Brian Driesen | Director Trustee or director | 1 | $1,733 | $0 |
| Ray Voight | Chairman Trustee or director | 2 | $1,681 | $0 |
| Mike Reed | Director Trustee or director | 1 | $1,655 | $0 |
| Dawn Cole | Secretary Trustee or director | 1 | $1,573 | $0 |
| Ron Wolfe | Vice Chairman Trustee or director | 1 | $1,327 | $0 |
| Jesse Tiwana | SC Member Trustee or director | 1 | $1,178 | $0 |
| Maureen Buscher-Dang | Treasurer Trustee or director | 1 | $1,151 | $0 |
| Serene Storslett | SC Chair Trustee or director | 1 | $882 | $0 |
| Robert Dickson | SC Member Trustee or director | 1 | $851 | $0 |
| Michael Bennett | Director Trustee or director | 1 | $0 | $0 |
| Woody Morrison | Director Trustee or director | 1 | $0 | $0 |
| Vernon Powers | Director Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1400 MILL ROCK WAY, BAKERSFIELD, CA 93311-1326
- In care of
- % CINDY WONDERLY
- Principal officer (990 for 2024)
- David King, 1400 Mill Rock Way, Bakersfield, CA 93311
- Signed the 990
- David King, CEO
- Phone
- (661) 327-3818
- Return prepared by
- RICHARDS & ASSOCIATES
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.
Program accomplishments
- 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 95-1812302
- Tax-exempt status
- 501(c)(14): State-chartered credit union
- Donations deductible
- No
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W61)
- Group exemption
- 1526: CREDIT UNIONS IN THE STATE OF CALIFORNIA
- Assets (IRS master file)
- $1,001,281,015
- Income (IRS master file)
- $58,951,487
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $47,057,316 | $34,255,595 | $1,037,445,216 | IRS |
| 990 | December 2022 | $36,115,479 | $25,739,563 | $893,921,948 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about SAFE 1 CREDIT UNION
- What is the EIN of SAFE 1 CREDIT UNION?
- The employer identification number (EIN) of SAFE 1 CREDIT UNION is 95-1812302.
- Is SAFE 1 CREDIT UNION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(14).
- Are donations to SAFE 1 CREDIT UNION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does SAFE 1 CREDIT UNION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SAFE 1 CREDIT UNION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SAFE 1 CREDIT UNION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SAFE 1 CREDIT UNION?
- The 990 for the year ended December 31, 2024 names David King.
- Who are the officers and directors of SAFE 1 CREDIT UNION?
- The 990 for the year ended December 31, 2024 lists 25 people; 16 received compensation from the organization, the highest $360,892 (David King, CEO/President).
- How much revenue does SAFE 1 CREDIT UNION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $58,951,487, expenses of $45,235,986 and total assets of $1,001,281,015 at year end.
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