Investment

The CEO of SAFE Credit Union in the Sacramento area is retiring

SAFE Credit Union President and CEO Dave Roughton, left, will retire at the end of 2022. Faye Nabhani, right, who currently serves as executive vice president/chief credit officer, will become the credit union president in Jan.  1, 2022, and president/CEO when Roughton retires.

SAFE Credit Union President and CEO Dave Roughton, left, will retire at the end of 2022. Faye Nabhani, right, who currently serves as executive vice president/chief credit officer, will become the credit union president in Jan. 1, 2022, and president/CEO when Roughton retires.

SAFE Credit Union

SAFE Credit Union President and CEO Dave Roughton, who has spearheaded efforts to double the institution’s assets to more than $ 4.3 billion over the past six years, will retire at the end of 2022 and be replaced at the top of the first woman in the financial institution. history.

The Folsom -based credit union announced Thursday afternoon the retirement of Roughton and his successor, Faye Nabhani, who currently serves as the credit union’s executive vice president/chief credit officer.

Nabhani will become president in Jan. 1, and will assume the joint role of president/CEO after Roughton leaves at the end of 2022.

Roughton joined the credit union nearly three decades ago, becoming its top executive in 2013. The credit union grew to more than 240,000 members from 192,000 during Roughton’s tenure, part of an aggressive non-profit marketing effort. financial institution to gain new customers, often at the expense of banks in the area.

The marketing included paying the city of Sacramento $ 23 million in 2019 to secure naming rights for the city’s downtown convention center. The center reopened in June and was called the SAFE Credit Union Convention Center as part of a 25-year deal.

Naming rights also include a new theater at the convention center called the SAFE Credit Union Performing Arts Center.

In making the deal with the city, SAFE joined its larger local competitor Golden 1 Credit Union in paying for the name recognition.

In 2015, Golden 1 Credit Union acquired the naming rights for the Sacramento Kings ’new downtown arena for $ 120 million over 25 years, one of the largest deals in naming rights at the time for a single tenant in NBA arena.

Nabhani said in an interview that acquiring the naming rights of the convention center is an important step in increasing the visibility of the credit union. He declined to elaborate on future endeavors, other than to say he plans to continue growing the institution’s assets and customer base.

Nabhani joined SAFE in 2016 as executive vice president/chief credit officer. Prior to that, he worked at Keypoint Credit Union in Santa Clara for 22 years in various capacities. His last position at Keypoint was as its chief lending officer.

Roughton said in a statement that Nabhani will continue SAFE’s mission to deliver financial health for all.

“My leadership philosophy is centered on the principle of putting people first, always,” he said.

Nabhani said philosophy became the center stage during the pandemic. He said the credit union has provided $ 225 million in assistance to members since the COVID-19 pandemic began in March 2020. He said the assistance includes low-interest emergency loans, payment deferrals. and partial payment options.

He said the Credit Union also helped 478 businesses obtain federal Paycheck Protection Program loans of $ 22.4 million.

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Randy Diamond is a business reporter for The Sacramento Bee.