Sacramento Area SAFE Credit Union CEO Retires
SAFE Credit Union President and CEO Dave Roughton, who has led efforts to double the institution’s assets to more than $ 4.3 billion in the past six years, will retire at the end of 2022 and will be replaced in first place by the first woman within the financial institution. the story.
The Folsom-based credit union announced on Thursday afternoon the retirement of Roughton and his successor, Faye Nabhani, who is currently executive vice president / chief credit officer of the credit union.
Nabhani will become chairman on January 1 and take on the combined chairman / CEO role following Roughton’s departure in late 2022.
Roughton joined the credit union nearly three decades ago, becoming its highest executive in 2013. The credit union grew from 192,000 members to over 240,000 during Roughton’s tenure, as part of efforts to aggressive marketing of the nonprofit financial institution to gain new customers, often at the expense of regional banks.
The marketing included paying the City of Sacramento $ 23 million in 2019 to secure the naming rights for the downtown convention center in the city. The center reopened in June and is called the SAFE Credit Union Convention Center under a 25-year agreement.
The naming rights also include the new convention center theater called SAFE Credit Union Performing Arts Center.
By making the deal with the city, SAFE joined with its biggest local competitor Golden 1 Credit Union in paying for name recognition.
In 2015, Golden 1 Credit Union acquired the naming rights for the new downtown Sacramento Kings arena for $ 120 million over 25 years, one of the largest naming rights contracts at the time for a solo tenant NBA arena.
Nabhani said in an interview that acquiring the naming rights of the convention center was an important step in increasing the visibility of the credit union. She declined to give details of future growth efforts, other than to say that she plans to continue to grow the institution’s assets and customer base.
Nabhani joined SAFE in 2016 as Executive Vice President / Chief Credit Officer. Previously, she was employed by Keypoint Credit Union in Santa Clara for 22 years in various capacities. His last job at Keypoint was as Loan Manager.
Roughton said in a statement that Nabhani will continue SAFE’s mission of providing financial health for all.
âMy leadership philosophy was centered on the principle of always putting people first,â he said.
Nabhani said philosophy had taken center stage during the pandemic. She said the credit union had provided $ 225 million in assistance to members since the start of the COVID-19 pandemic in March 2020. She said the assistance included low-rate emergency loans. ‘interest, payment deferrals and partial payment options.
She said the Credit Union had also helped 478 companies obtain federal paycheck protection program loans of $ 22.4 million.