NORTH HIGHLANDS, Calif.-Despite continuing sluggishness in the housing market and high unemployment in greater Sacramento, SAFE CU CEO Henry Wirz is projecting black numbers in 2010.
"We remain profitable," he said of the $1.7-billion credit union. "We had a lull in September because we booked the NCUA assessment. We had accrued all but about $700,000 of it. We had negative net income of about $300,000 in September but the first two months were profitable and there is no doubt the quarter will be profitable. We should finish the year on a profitable basis, as well. Next year and the year after we expect to finish positive $3 million to $4 million."