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Overview
BECU is a not-for-profit credit union that provides everyday banking and financial services to its members, including checking and savings, loans, mortgages, and credit cards, with online and mobile access. Members open accounts or loans, fund and manage them online or via a mobile app, and can use debit and credit services and discounts. As a member-owned cooperative, it aims to return value through lower fees and favorable terms, and it emphasizes financial education and community partnerships such as Boeing-branded cards and discounts with local teams. Its goal is to help people achieve financial well-being and stability by offering affordable financial services and education.
About BECU
Industries
Financial Services
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Tukwila, Washington
Founded
1935
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Simplify's Take
What believers are saying
- August 4, 2026 regulators approved BECU and SAFE's combination, expanding scale.
- June 2026 openings in Tumwater and Lacey deepen BECU's South Puget Sound reach.
- 2025 membership grew above 1.5 million, while assets held at $29.4 billion.
What critics are saying
- SAFE member approval still blocks the 2027 merger after August 2026 regulatory clearance.
- A failed SAFE vote wastes management focus and delays BECU's Northern California expansion.
- Digital-first competitors can undercut BECU's fee story if branch growth raises costs.
What makes BECU unique
- BECU returned $425.7 million to members in 2025, unlike shareholder banks.
- Boeing-rooted, BECU serves 1.5 million members across 65-plus financial centers.
- BECU's tellerless Neighborhood Financial Centers pair Video Banking with local in-person guidance.
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Benefits
Health Insurance
Dental Insurance
Vision Insurance
Life Insurance
Disability Insurance
Health Savings Account/Flexible Spending Account
401(k) Retirement Plan
Paid Vacation
Paid Holidays
Remote Work Options
Company News
NCUA, CA DFPI and WA DFI Grant Regulatory Approval for Proposed Combination of BECU and SAFE Credit Union. * 53 minutes ago Planned combination to advance to SAFE member vote Combined credit union to build on SAFE's local roots to deliver greater value to members and communities SEATTLE and FOLSOM, Calif., Aug. 4, 2026 - BECU and SAFE Credit Union today announced that the National Credit Union Administration (NCUA), Washington State Department of Financial Institutions (DFI), and California Department of Financial Protection and Innovation (DFPI) have granted regulatory approval to advance the proposed combination of the two credit unions. This approval marks an important milestone in the combination process and brings the organizations a step closer to expanding the value, services and support available to their members. The next step is approval by SAFE members. Additional information about the benefits of the proposed combination and details on how and when to vote will be shared with SAFE members in the coming weeks. The combined credit union will build on SAFE's deep local roots in Northern California and BECU's member focus and ability to deliver day one value to SAFE members. Together, they will accelerate investment in the products, services, and technology members rely on, while strengthening both credit unions' longstanding commitment to the financial well-being of their members and the communities they serve. "This combination is rooted in our shared values and a shared ambition to do more for our members, communities, and employees than either of us could achieve alone," said Beverly Anderson, president and CEO of BECU. "For decades, both of our credit unions have helped members build financial well-being while investing in the communities we serve. That same commitment to putting members first will continue to guide how we move forward together." SAFE members will benefit from expanded products and services, fewer fees, enhanced digital banking capabilities and greater convenience through a larger branch network and expansion in the Sacramento region. They will also gain broader access to member-focused programs and community investment. BECU members will continue to enjoy the products and services that have made the credit union a Pacific Northwest favorite for 90 years. The combined credit union will build upon SAFE's and BECU's traditions of community engagement to expand its impact across the Sacramento region, with an expected annual investment of $1.5 million to local nonprofits working to advance financial wellness, affordable housing, workforce development, and education. Additionally, the combination is expected to help expand small business lending and overall access to credit that supports local businesses and communities, and create expanded career opportunities for employees, while enhancing the ability to attract and retain top talent. "We are thrilled to reach this milestone and be one step closer to bringing our two credit unions together," said Faye Nabhani, president and CEO of SAFE. "This combination will build a stronger future for SAFE members, one that honors who we are while delivering more value. By combining with BECU, we can do even more to support our members' financial well-being for years to come." Upon completion, the combined credit union will serve 1.8 million members through more than 80 locations and hold more than $34 billion in assets, making it the fourth-largest credit union in the United States by asset size. Anderson will continue to serve as president and CEO of the combined organization. Nabhani will serve as market president for the Greater Sacramento region, reporting to Anderson, and SAFE will maintain representation on the combined credit union board. "SAFE has long been an important community partner and economic driver in the Sacramento region," said Robert Heidt, president and CEO of the Sacramento Metro Chamber. "This proposed combination with BECU reflects a thoughtful approach to growth that will strengthen the region through additional investment, expanded access to capital, and new opportunities for businesses and families. As our regional economy continues to grow, it's important that our financial institutions continue to grow alongside it." Subject to the outcome of the SAFE member vote, the combination is expected to close on January 1, 2027. Until that time, both credit unions will continue to operate independently. More information about the proposed combination can be found at www.becuandsafe.org and www.safecu.org/combination. About BECU With more than 1.5 million members and $29.4 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through great rates, few fees, community partnerships and financial education. The credit union currently operates more than 65 financial centers, including two in South Carolina. For more information, visit www.becu.org. About SAFE Credit Union SAFE Credit Union has made members an integral part of its family since 1940, offering a full range of financial solutions to individuals, families, and businesses throughout the Sacramento region. With more than $4.6 billion in assets and nearly 700 employees, SAFE Credit Union is deeply committed to financial wellness, community development, and personalized service. Learn more at www.safecu.org.
NCUA, CA DFPI and WA DFI grant regulatory approval for proposed combination of BECU and SAFE Credit Union. Planned combination to advance to SAFE member vote Combined credit union to build on SAFE's local roots to deliver greater value to members and communities SEATTLE and FOLSOM, Calif., Aug. 4, 2026 /PRNewswire/ - BECU and SAFE Credit Union today announced that the National Credit Union Administration (NCUA), Washington State Department of Financial Institutions (DFI), and California Department of Financial Protection and Innovation (DFPI) have granted regulatory approval to advance the proposed combination of the two credit unions. This approval marks an important milestone in the combination process and brings the organizations a step closer to expanding the value, services and support available to their members. The next step is approval by SAFE members. Additional information about the benefits of the proposed combination and details on how and when to vote will be shared with SAFE members in the coming weeks. The combined credit union will build on SAFE's deep local roots in Northern California and BECU's member focus and ability to deliver day one value to SAFE members. Together, they will accelerate investment in the products, services, and technology members rely on, while strengthening both credit unions' longstanding commitment to the financial well-being of their members and the communities they serve. "This combination is rooted in our shared values and a shared ambition to do more for our members, communities, and employees than either of us could achieve alone," said Beverly Anderson, president and CEO of BECU. "For decades, both of our credit unions have helped members build financial well-being while investing in the communities we serve. That same commitment to putting members first will continue to guide how we move forward together." SAFE members will benefit from expanded products and services, fewer fees, enhanced digital banking capabilities and greater convenience through a larger branch network and expansion in the Sacramento region. They will also gain broader access to member-focused programs and community investment. BECU members will continue to enjoy the products and services that have made the credit union a Pacific Northwest favorite for 90 years. The combined credit union will build upon SAFE's and BECU's traditions of community engagement to expand its impact across the Sacramento region, with an expected annual investment of $1.5 million to local nonprofits working to advance financial wellness, affordable housing, workforce development, and education. Additionally, the combination is expected to help expand small business lending and overall access to credit that supports local businesses and communities, and create expanded career opportunities for employees, while enhancing the ability to attract and retain top talent. "We are thrilled to reach this milestone and be one step closer to bringing our two credit unions together," said Faye Nabhani, president and CEO of SAFE. "This combination will build a stronger future for SAFE members, one that honors who we are while delivering more value. By combining with BECU, we can do even more to support our members' financial well-being for years to come." Upon completion, the combined credit union will serve 1.8 million members through more than 80 locations and hold more than $34 billion in assets, making it the fourth-largest credit union in the United States by asset size. Anderson will continue to serve as president and CEO of the combined organization. Nabhani will serve as market president for the Greater Sacramento region, reporting to Anderson, and SAFE will maintain representation on the combined credit union board. "SAFE has long been an important community partner and economic driver in the Sacramento region," said Robert Heidt, president and CEO of the Sacramento Metro Chamber. "This proposed combination with BECU reflects a thoughtful approach to growth that will strengthen the region through additional investment, expanded access to capital, and new opportunities for businesses and families. As our regional economy continues to grow, it's important that our financial institutions continue to grow alongside it." Subject to the outcome of the SAFE member vote, the combination is expected to close on January 1, 2027. Until that time, both credit unions will continue to operate independently. More information about the proposed combination can be found at www.becuandsafe.org and www.safecu.org/combination. About BECU With more than 1.5 million members and $29.4 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through great rates, few fees, community partnerships and financial education. The credit union currently operates more than 65 financial centers, including two in South Carolina. For more information, visit www.becu.org. About SAFE Credit Union SAFE Credit Union has made members an integral part of its family since 1940, offering a full range of financial solutions to individuals, families, and businesses throughout the Sacramento region. With more than $4.6 billion in assets and nearly 700 employees, SAFE Credit Union is deeply committed to financial wellness, community development, and personalized service. Learn more at www.safecu.org. Media Contacts SOURCE BECU
BECU expands further into South Puget Sound with new locations in Tumwater and Lacey. * June 18, 2026 SEATTLE (June 17, 2026) - BECU, Washington's largest credit union, is adding new Neighborhood Financial Centers (NFCs) in Tumwater and Lacey as it expands further into South Puget Sound. The new locations are part of the credit union's broader plans to grow its physical footprint to create better access to in-person financial support for its members across Washington. BECU recently added new locations on Bainbridge Island and in Lakewood, and announced plans for future locations in Auburn, Liberty Lake near Spokane, Mercer Island and Duvall. "Thurston County is one of the fastest growing regions in our state, with a strong presence of military families, public sector employees and small businesses that are central to the local economy," said BECU Chief Member and Digital Experience Officer Jason Rudman. "As we open our doors in Tumwater and Lacey, our goal is to engage this community in meaningful ways by providing trusted financial guidance, growing local partnerships and supporting its continued growth." With over 29,000 members across Thurston County, the new locations join the credit union's existing Lacey location in Hawks Prairie. Both will feature BECU's tellerless model, which combines in-person support with digital services, including Video Banking. Members will be able to open accounts, apply for loans and access personalized financial guidance, while ATMs are available for cash deposits and withdrawals. The 2,600-square-foot Tumwater NFC will be located at 1551 Kingswood Drive SW and is expected to open in late 2026. BECU's 2,900-square-foot Lacey NFC will be located at 5110 Yelm Highway SE and is expected to open in early 2027. Community Commitment BECU is a member-owned financial cooperative dedicated to improving the financial well-being of its members and the communities it serves. In addition to providing financial services, the credit union supports local nonprofits. In 2025, BECU donated $8.1 million to organizations focused on increasing financial access, improving education and expanding economic opportunity. This includes $75,000 in Thurston County, supporting organizations such as Enterprise for Equity and Homes First. As BECU gets closer to opening these new locations, it will deepen its partnerships with nonprofits in the local community. Joining BECU Not a BECU member? Anyone in Washington and select counties in Idaho and Oregon is eligible for membership. As a not-for-profit credit union, BECU returns profits to members in the form of competitive rates, few fees and more financial services. This includes unique benefits, such as free, personalized Financial Health Checks, member-only discounts and more. BECU also expects to hire six employees at each of its new locations. Candidates interested in working at the credit union can apply online at BECU.org/careers. Employees receive a variety of benefits to promote financial health and general wellness. About BECU With more than 1.5 million members and $29.4 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through great rates, few fees, community partnerships and financial education. The credit union currently operates more than 65 financial centers, including two in South Carolina. For more information, visit www.becu.org. Thank you for using the Press Center on CreditUnions.com! Please be aware that although CreditUnions.com has approved the content you are about to view, the document was uploaded by a third party. Therefore, CreditUnions.com does not claim responsibility for the source of this document. Andrew Lepczyk Aaron Passman Chris Howard
BECU, the fifth-largest credit union in the US, has released its 2025 annual report marking its 90th anniversary. The Washington-based credit union ended 2025 with over 1.5 million members, $29.4 billion in total assets and a net worth ratio of 12.4%. The not-for-profit credit union returned $425.7 million to members in 2025, averaging $276 per member through competitive rates and savings. Nearly 47,000 members saved $2.2 million through BECU's automatic loan repricing programme as their credit improved. BECU granted $8.1 million to nonprofits focused on housing stability, education and workforce development. The credit union also opened five new financial centres across Washington state and announced plans to combine with Sacramento-based SAFE Credit Union. More than 3,300 employees contributed over 26,000 volunteer hours.
BECU members help direct $450,000 to nonprofits through People Helping People Awards. 18 member-nominated nonprofits honored at annual celebration SEATTLE (Dec. 15, 2025) - BECU, Washington's largest credit union, is donating $450,000 to nonprofit organizations as part of its annual People Helping People Awards. Each year, BECU invites its members to nominate nonprofits that are improving access to education and economic opportunities, promoting health and wellness, providing basic needs, strengthening local communities or caring for the environment. In 2025, the credit union received over 750 nominations. This year's People Helping People Awards come as BECU is celebrating its 90th anniversary. BECU was founded in 1935 as 18 Boeing employees came together to help each other purchase tools. Today, BECU has grown to include more than 1.5 million members, and its commitment to the credit union philosophy of "people helping people" is steadfast. The People Helping People Awards is a way for members to help direct philanthropic funding in their communities. Since the program began in 2013, the People Helping People Awards have provided over $5 million to nonprofit organizations. "As dedicated volunteers, advocates and supporters, our members deeply understand the needs of their communities," said Beverly Anderson, BECU CEO. "With those needs only continuing to grow, the work of our nonprofit partners is even more important. The People Helping People Awards are a way we can come together to make a meaningful impact." * Denis Maronga of Kicheko Project, Member Volunteer of the Year ($50,000): The Member Volunteer of the Year award is given to a nonprofit on behalf of a member who exemplifies exceptional community service. Funds will support Kicheko Project as they build inclusive futures by connecting culture, education, and innovation in support of BIPOC youth and families. "We measure success in these human connections - the Yoruba elder teaching teens beadwork, the Ukraine father who said our financial literacy workshop helped him buy a home," said BECU member Denis Maronga in Kicheko Project's nomination. "Every other weekend, I'm humbled to see our volunteers donate over 200 monthly hours to keep our programs free. This nomination isn't about me - it's for the community heroes who've turned Kicheko into a lifeline for cross-cultural healing." * InvestED, People's Choice Award ($40,000): Given to the organization that receives the most votes from the community, this funding will support InvestED's efforts to provide students with immediate, barrier-free access to essentials like food, clothing and school participation costs. This year, BECU received 12,000 votes from the community. "While at the Highline School District, we used InvestED funds to support our most vulnerable students. We helped students facing homelessness with food, clothes and basic needs items. We also helped students engage in school through arts, music, drama, sports and field trips," said BECU member David Hartness in InvestED's nomination. "Without this money, many students simply wouldn't be able to participate and many would have lost the motivation to continue on, which could impact their grades." * Washington Association of Child Advocate Programs, Employees' Choice Award ($30,000): Receiving the most votes by BECU employees, Washington Association of Child Advocate Programs will be granted funding in support of the Snohomish County Court Appointed Special Advocates (CASA) as they equip local advocates with tools, training, and resources to serve children in court and community settings. "The CASA program gives me the opportunity to step forward and personally help children and their families who are experiencing the worst of times," said BECU member Jeanne Thomas in Washington Association of Child Advocate Programs' nomination. "The child is at the center of everything we do. The CASA program encourages volunteers to use their life experience to advocate for vulnerable children." * Refugee & Immigrant Connections Spokane, Past Recipients' Choice Award ($30,000): Selected by popular vote from past People Helping People Award recipients, Refugee & Immigrant Connections Spokane (RICS) will receive funding in support of their efforts to connect refugee and immigrant families to vital services, fostering belonging and advocating for their rights. "I've watched individuals arrive carrying the weight of displacement. Through RICS' programs - language support, job readiness, community events - I witness transformations that benefit not only newcomers but our entire city," said BECU member Azad Salem in RICS' nomination. "Confidence grows, isolation melts away as cross-cultural connections are formed between long-time residents and new arrivals, and hope rekindles as families begin to thrive, contributing their skills and perspectives to Spokane's economy and culture." * Community Benefit Awards ($210,000 to 14 organizations): All other 2025 People Helping People Awards finalists will receive $15,000. Additionally, the People Helping People Awards provides two years of supplemental grant funding to ensure recipients can sustain their impact. This year, BECU is providing $90,000 to support past award recipients. The People Helping People Awards are part of BECU's broader philanthropic efforts. In 2024, the credit union contributed $9.2 million to hundreds of nonprofits focused on improving financial health in the communities it serves. Editor's note: Photos of this year's grant recipients are available on the BECU Newsroom. About BECU BECU is federally insured by NCUA and an Equal Housing Opportunity Lender (Boeing Employees' Credit Union NMLS ID 490518). With more than 1.5 million members and $28.9 billion in assets, BECU is the largest not-for-profit credit union in Washington and one of the top five financial cooperatives in the country. As a member-owned credit union, BECU is focused on helping increase the financial well-being of its members and communities through great rates, few fees, community partnerships and financial education. The credit union currently operates more than 60 financial centers, including two in South Carolina. For more information, visit www.becu.org.
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About BECU
Industries
Financial Services
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Tukwila, Washington
Founded
1935
BECU is Hiring for 36 Jobs on Simplify!
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