Safe 1 Credit Union

What Safe 1 Credit Union does

Safe 1 Credit Union is a member-owned cooperative financial institution founded in 1952, serving more than 85,000 members across California's Central Valley. It operates 10 branches spanning Kern, Kings, Tulare, and Fresno counties and is headquartered in Bakersfield, with a workforce of 51 to 100 employees and over $1 billion in assets. The institution's core products include savings accounts, checking accounts, consumer loans, mortgages, and credit cards, with card issuance handled through Mastercard partnerships.

The credit union delivers these services through both physical branches and digital channels, including online banking, a 4.9-star-rated mobile application, a 30,000+ ATM and shared-branch network accessed through Co-Op, Zelle for peer-to-peer payments, SafePay for bill payment, the MyCardRules card-security application, and a CashBack+ rewards program. These integrations reflect a deliberate channel strategy in which members are routed toward self-service digital banking, with the branch network reserved for higher-touch activities such as loan origination and new-account opening.

As a not-for-profit cooperative chartered and insured by the NCUA, Safe 1 Credit Union generates revenue primarily through net interest income on its loan portfolio, supplemented by deposit fees, interchange income from debit and credit card transactions, and revenue-share arrangements on partner products such as Members Mobile. Members hold voting ownership rights, and surplus earnings are reinvested into product enhancements, rate pricing, and digital capabilities rather than distributed to external shareholders.

Name

Safe 1 Credit Union

Legal name

Safe 1 Credit Union

Website

https://safe1.org

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

51–100 employees

Short description

Safe 1 Credit Union is a member-owned cooperative financial institution founded in 1952, serving over 85,000 members across California's Central Valley through 10 branches offering deposit accounts, loans, mortgages, credit cards, and digital banking services.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Credit union services
• Deposit accounts

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices11 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Interest Income from Loans: Safe 1 Credit Union generates primary revenue through interest earned on consumer loans including auto loans, credit cards, personal loans, mortgages, and home equity products. Loan products include new and used auto loans (4.99%-15.24% APR), motorcycle loans, RV loans, personal loans (7.90%-20.90% APR), credit cards (11.25%-21.75% APR), first mortgages, and home equity products.
2. Deposit Account Fees: Revenue generated from various account-related fees including overdraft fees ($14-$30 per occurrence), returned item fees ($14 per presentment), wire transfer fees ($10 incoming, $25 outgoing), ATM fees for non-network transactions, card replacement fees ($5), and stop payment fees ($20-$25).
3. Share Savings and Investment Products: Revenue from the spread between interest paid on deposits (savings, checking, certificates, IRAs, money market accounts) and interest earned on loans and investments. Deposit rates range from 0.05% APY on basic savings to 3.77% APY on 12-month variable rate certificates.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Safe 1 Credit Union is a not-for-profit, member-owned financial cooperative that provides retail banking services to individuals and families. It offers deposit products (savings, checking, certificates, money market, IRAs), consumer loans (auto, personal, motorcycle, RV, home equity, mortgages, home improvement), credit cards (Mastercard Platinum and Platinum Rewards), and a comprehensive digital banking platform including mobile app, online banking, Zelle, and mobile deposit. The institution operates 10 branch locations across California's Central Valley serving Kern, Kings, Tulare, and Fresno Counties.

Product overview

Safe 1 Credit Union offers a comprehensive suite of financial products organized into three main categories: core deposit products (Share Savings, Checking, Certificates, Money Market Savings, Club Accounts, and IRAs), consumer and mortgage lending (Auto, Personal, Motorcycle, RV, Home Equity, First Mortgage, and Home Improvement loans along with Mastercard Platinum and Platinum Rewards credit cards), and digital banking services (Mobile Banking, Online Banking, Mobile Deposit, Mobile Wallet with Apple Pay/Google Pay/Samsung Pay, SafePay bill payment, Zelle, Text Banking, and SafeTone phone banking). Additional services include insurance products (AD&D, Mechanical Breakdown Insurance), Direct Deposit, Payroll Deduction, Discounted Tickets, and the Relationship Rewards loyalty program. The digital ecosystem centers on their mobile app and online banking platform, with integrated peer-to-peer payments via Zelle and the proprietary CashBack+ rewards program.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Basic savings account for members with a $5 minimum opening deposit, dividends paid quarterly on balances of $50 or more, at 0.05% APY (variable rate). Serves individual members seeking a foundational savings product at the credit union.
• Checking

Quantifiable outcome

• Over $1 billion in assets managed for 85,000+ members
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• American Consumer Council (ACC)coreStrategic or Co-development PartnerSafe 1 Credit Union maintains a long-standing partnership with the American Consumer Council, a non-profit consumer education organization founded in 1987. Through this partnership, Safe 1 provides financial literacy resources, education programs, workshops, videos, and tutorials to members. Safe 1 members are eligible to join ACC at no cost, with membership fees paid by Safe 1 Credit Union. The partnership supports financial wellness initiatives in the communities served.
• Members MobileminorGTM or Marketing PartnerSafe 1 has partnered with Members Mobile to offer affordable mobile phone plans with nationwide 4G/5G coverage. This partnership allows Safe 1 members to bundle mobile phone service with other financial products, providing additional savings and convenience benefits to the membership.
• Co-Op Financial ServicescoreTechnology or IntegrationSafe 1 Credit Union participates in the Co-Op ATM network, providing members access to over 30,000 surcharge-free ATMs nationwide, including more than 200 ATMs in the Central Valley. This partnership enables widespread ATM access for members across the United States through the Co-Op network.
• MastercardcoreTechnology or IntegrationSafe 1 issues Mastercard-branded credit cards including Platinum and Platinum Rewards cards, and debit cards. This partnership provides card processing infrastructure, global acceptance, and security features including identity theft protection, 24-hour worldwide service, and mobile wallet compatibility with Apple Pay, Google Pay, and Samsung Pay.
• CashBack+ Program PartnersminorGTM or Marketing PartnerCashBack+ and CashBack+ Pay programs provide cash back rewards through partnerships with hundreds of retail brands including Amazon, Starbucks, Target, and other merchants. Members purchase digital gift cards through the program to earn instant cash back rewards on purchases.
• Zelle (Early Warning Services)coreTechnology or IntegrationSafe 1 offers Zelle peer-to-peer payment integration through partnership with Early Warning Services, LLC. This enables members to send money quickly and securely to friends, family, and others they trust directly from their Safe 1 mobile app or online banking, with funds typically available in minutes.
• FM Service (Accidental Death & Dismemberment Insurance)minorOthersSafe 1 partners with FM Service to provide Accidental Death & Dismemberment (AD&D) insurance products. Eligible members (18+) receive $2,000 in complimentary coverage, with options to purchase additional coverage up to $500,000.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Coast Central Credit Union: Northern California community credit union with comparable asset scale and member-owned structure. Offers similar full-service banking products to a defined regional membership in California.
• First Technology Federal Credit Union: Large technology-employee-founded credit union that has expanded to general public membership. Comparable employer-origin-to-public-expansion trajectory and similar full-service banking product offering.
• Bay Federal Credit Union: Community credit union serving California's Central Coast with comparable asset size and member base. Offers similar full-service banking including deposits, auto loans, mortgages, and credit cards to a defined regional membership.
• San Diego County Credit Union: California-based community credit union with comparable member-owned structure and full-service banking offerings. Serves a defined California regional market with similar deposit, lending, and digital banking products.
• Patelco Credit Union: Bay Area-based California credit union offering full banking services including consumer loans, mortgages, and credit cards. Similar member-owned cooperative model with comparable deposit and lending products and California regional focus.
• Golden 1 Credit Union: One of California's largest credit unions, headquartered in Sacramento with statewide membership including the Central Valley. Offers a comparable product suite (deposits, consumer loans, mortgages, credit cards) and competes directly for California-based members with digital and branch channels.
• SchoolsFirst Federal Credit Union: Large California credit union originally serving school employees that has expanded to general public membership. Directly comparable to Safe 1's origin story of serving a defined employee group and broad product/deposit/lending offerings.
• Arrowhead Credit Union: California-based community credit union with similar member-owned structure and comparable asset scale. Offers a parallel product suite including deposits, consumer loans, mortgages, and credit cards to a regional California membership.

Broad incumbents

• Bank of the Sierra: Regional community bank headquartered in the Central Valley area of California that directly competes with Safe 1 in the same Kern, Tulare, and surrounding county markets for deposits, consumer loans, and mortgages. Comparable regional banking footprint and customer base.
• Mechanics Bank: Northern/Central California community bank offering full-service consumer and business banking. Competes with Safe 1 in overlapping California markets for consumer deposits, mortgages, and small business banking relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/safe1cu
• LinkedInlinkedin.com/company/safe-1-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Safe 1 Credit Union