SAFE Announces $23 Million Investment in Convention, Arts and Entertainment Project
FOLSOM, Calif., Aug. 14, 2019 /PRNewswire-PRWeb/ -- The Sacramento City Council voted Tuesday, Aug. 13, 2019, confirming SAFE Credit Union's 25-year commitment to help Sacramento propel its core into a dynamic business and cultural center for the 21st century and beyond.
"SAFE Credit Union is proud to show our commitment to making Sacramento a world-class city with this investment in the SAFE Credit Union Convention and Performing Arts District in downtown Sacramento," said SAFE CEO and President Dave Roughton. "For the past 80 years, we've walked side by side with our members, civic leaders, and local businesses to build Sacramento into a vibrant, successful city where people dedicate their hard work and talents to helping our region thrive. This investment and 25-year commitment will help strengthen the Greater Sacramento region by creating jobs, expanding business opportunities, and growing California's capital into a cultural gem."
SAFE joins other business citizens and civic organizations in supporting the $340 million project to transform the Sacramento Convention Center, Community Center Theater, and Memorial Auditorium into a truly inclusive city landmark, representing the highest caliber of business tourism, arts, and entertainment. The project ushers in a complete reinvention of eastern Downtown Sacramento as part of a broader remaking of Sacramento's core.
"We can be proud that one of our leading city cultural assets will be branded with the name of one of our leading Sacramento businesses," said Sacramento Mayor Darrell Steinberg.
SAFE is committing to the project with the understanding that the SAFE Credit Union Convention and Performing Arts District, to be completed in 2020, will drive economic benefits to downtown and the Greater Sacramento area through increased visitor attraction and spending, creating a healthier business community.
"This investment reflects on SAFE's commitment to our region's economic success by encouraging job creation, supporting local businesses, and enhancing Sacramento's cultural life," Roughton said. "SAFE understands that a strong regional economy increases the financial opportunities for all its members, communities, and local businesses."
As a strong supporter of the credit union movement, SAFE takes seriously its role as a steward of its members' trust and investment in their community. SAFE, like other credit unions, is owned by its members and led by a board of volunteers who practice fiduciary responsibility over SAFE's business practices. This investment in a project that economically benefits the region at large reflects on the community-minded spirit embodied in SAFE's mission.
SAFE is making this important investment with its members foremost in mind, said Board Chairperson Terrance Tremelling. "As the region thrives, so do the economic opportunities to all who live here," he said. "Part of SAFE's stewardship and promise to our members is to promote their financial health so they can enjoy life. Transforming the city core into a dynamic business and arts center lifts the entire region by creating jobs and fostering economic growth. We believe our members will benefit from this exciting reshaping of Sacramento's downtown and identity."
As part of the $23 million investment to be funded over 25 years, SAFE is receiving naming rights to the Convention Center, Center Theater, and outdoor plaza. The entire complex will be known as the SAFE Credit Union Convention and Performing Arts District. The Convention Center will be called the SAFE Credit Union Convention Center. The theater will be renamed SAFE Credit Union Performing Arts Center. A new outdoor plaza will be called SAFE Credit Union Plaza.
SAFE will offer its credit union membership to all new City of Sacramento employees and will provide financial health training through its SAFE@Work program to all City of Sacramento employees. SAFE and the City of Sacramento will also enter into a long-term treasury relationship supporting the city's cash flow and liquidity needs.
"We thank the City of Sacramento for providing this opportunity," Roughton said. "We thank our members for their loyalty and helping make SAFE a strong business partner. We look forward to partnering with the City of Sacramento as we work together to make Sacramento a better place for us all."
For more, go to http://www.safecu.org/district
SAFE Credit Union has made members an integral part of its vision since 1940. Over the years the credit union has kept the focus on what really matters, putting members first, a formula that has seen SAFE grow into a leading financial institution in Northern California with $3 billion in assets and more than 235,000 members. SAFE crafts every cutting-edge product and sterling service with members' needs foremost in mind. In addition to banking services conveniently available through online, chat, mobile, or phone options, SAFE offers in-person care for members and small businesses at service centers across the Greater Sacramento region and a mortgage lending office serving Contra Costa and Alameda counties. SAFE is a not-for-profit, state-chartered credit union with membership open to businesses and individuals living or working in Sacramento, Placer, Yolo, El Dorado, Sutter, Butte, Nevada, Solano, San Joaquin, Contra Costa, Yuba, Amador, and Alameda counties. SAFE is federally insured by the NCUA. http://www.safecu.org
SOURCE SAFE Credit Union
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