Last week, Faye Nabhani was named SAFE Credit Union’s incoming President/CEO. Currently Chief Credit Officer for Folsom-based bank, she will become its first female chief executive in an 81-year history. One of the leading financial institutions in Northern California, SAFE Credit Union has more than $4 billion in assets and 240,000 members.
As an executive at a financial institution, I know how essential it is for families to be armed with the information and resources they need to secure not only their future, but that of the next generation.
The pandemic laid bare how many families in our community and around the world were vulnerable to economic adversity. The economic fissures that opened are likely to expand for some time. While businesses and governments were right to respond decisively to the pandemic by prioritizing health and wellness, a report by the United Nations Children Fund (UNICEF) states that an additional 150 million children will be pushed into poverty due to COVID-19 and corresponding lockdown measures.
This information shocks the conscience.
With this in mind, and as we continue to make strides in recovery from the pandemic, corporations and not-for-profit institutions should lead the way in ensuring families are afforded opportunities to secure themselves and their future. Financial education, philanthropy, and continued regional investments through public-private partnerships remain accessible avenues to help the underserved and secure the future.
These are the priorities that drive my leadership now and will continue to do so when I transition into the role of President/CEO of SAFE Credit Union. I was recently honored with the privilege of being chosen by the SAFE Board of Directors to assume the role of President beginning December 2022, and taking on the combined President/CEO role in January 2023. In my current role as Chief Credit Officer, I’ve had the opportunity to work with many inspiring and effective leaders, such as outgoing President/CEO Dave Roughton, who has done wonders for our members and the community we serve.
The magnitude of being selected as the first woman to lead SAFE isn’t lost on me. It’s an honor to be counted among the incredible women who continue to make strides in corporate leadership, and I’m humbled by the opportunity to show other women in the Greater Sacramento region what’s possible through hard work and determination.
Showing other women what’s possible also includes what can be achieved to support communities that have been impacted by the pandemic. I’m eager to continue to expand on the necessary work SAFE Credit Union has done to help provide communities, individuals, and businesses with opportunities to thrive.
SAFE Credit Union is proud to have provided over $225 million in assistance to its members since the start of the pandemic in March 2020. Assistance came in the form of no- to low-interest emergency loans, deferred loan payments, partial payment options, as well as waived fees. Through our community relations team, we’re also proud to offer financial education and wellness courses in outside-the-box ways that meet people where they are.
Just as important, it’s also essential to continue key regional partnerships that enhance quality of life for residents. Prior to the shutdown, many cities, including Sacramento, were developing partnerships with private interests. One such example is SAFE’s $25 million investment in the SAFE Credit Union Convention Center & Performing Arts District.
Through this partnership, SAFE assisted the City of Sacramento with finishing renovations to the outdated convention center. The new, state-of-the-art facility is now open, serving as an economic driver for the City of Sacramento and hosting events for residents and visitors to enjoy.
I’m proud to work for an organization with so many regional ties, and as incoming President/CEO, look forward to continuing to set the example of working within the community to do our part to ensure recovery from this unprecedented pandemic.
I encourage business leaders who can make a difference to continue to be innovative and find ways to promote responsibility, as this is truly in the best interests of our communities. I look forward to continuing to learn during this transition year at SAFE and am honored to be able to lead the way for our organization, employees, and members.
I’ll always be available for feedback on how to better serve our communities and members.
Faye Nabhani is Chief Credit Officer for SAFE Credit Union and incoming President/CEO. Faye Nabhani She can be reached at mediainquiry@safecu.org.
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