This story was originally published on MyNorthwest.com.
BECU is making a big move outside Washington, merging with SAFE Credit Union in California.
The joint statement stated that the combined group will serve 1.8 million members. It will operate more than 80 locations under BECU’s charter. Together, they’ll have more than $33 billion in assets, making it the fourth-largest credit union in the country.
BECU has approximately $28.9 billion in assets, while SAFE has $4.6 billion.
The merger won’t be official until early 2027, according to BECU President and CEO Beverly Anderson. Until then, the two credit unions will remain separate.
“As president and CEO, I will proudly lead the combined organization, which will be headquartered in BECU’s offices in Tukwila, Washington,” Anderson said. “As always, our focus remains on your financial well-being as we continue to deliver the great service and member experience that you have come to expect from our passionate team.”
BECU, the Tukwila-based credit union, started in 1935 with Boeing employees, and has since grown to more than 1.5 million members.
“SAFE and their dedicated team share our commitment to the cooperative principle of ‘people helping people.’ That same principle has guided us for nearly 90 years and is deeply rooted in our commitment to community, trust, and member-first service,” Anderson added. “We are also committed to staying ahead of our members’ evolving needs in today’s rapidly changing financial services landscape and to continue serving our communities with the same care and connection we always have.”
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