As SAFE and BECU (historically known as Boeing Employees Credit Union) explore a proposed combination, many members have asked a simple question: Who is BECU?
BECU is a Washington state-based credit union guided by one simple purpose for more than nine decades: improving the financial well-being of its members and the communities they call home. That purpose has not changed for more than 90 years.
Its story began in 1935, when a small group of Boeing employees pooled their money to help coworkers purchase the tools they needed to do their jobs. While BECU has grown significantly since those early days, and is now a community credit union, its commitment to the credit union philosophy of "People Helping People" remains at the center of everything it does.
Like SAFE, BECU is member owned and purpose driven. That means its success is measured by the value it creates for members and communities. Both organizations share a belief that financial services should help people achieve their goals, strengthen their financial well-being, and support the communities they call home.
BECU puts that commitment into action through competitive rates, innovative products and services, and few fees. It also offers programs designed to directly benefit members and communities, including its Loan Reprice Program, First-Time Homebuyer Grant, People Helping People Awards, and support provided through the BECU Foundation.
BECU is a financial partner, not just a place to bank. In every community it serves, it focuses its resources on what helps people build stability, confidence and opportunity. Its employees believe in what credit unions do, feel valued and supported, and care deeply about the financial health and resilience of members and their communities.
BECU’s commitment to financial health extends to the communities where its members and employees live, work and play. In 2025, the credit union granted $8.1 million to hundreds of nonprofits working across housing stability, education access, workforce development and entrepreneurship. Rooted in BECU’s commitment to equity, the credit union’s approach to community investment balances long-term partnerships with the flexibility to respond to emerging needs.
As a member-owned financial cooperative, SAFE members have the right to vote on significant organizational changes like this proposed combination. SAFE members are currently voting on the proposed combination with BECU. The voting period opened August 31 and closes October 27, 2026.
Please note, SAFE and BECU remain separate organizations today and leaders from both credit unions believe a strategic combination would bring together two organizations with similar values, a shared commitment to serving members, and a strong belief in the credit union mission.
As members learn more about the proposed combination, understanding BECU's history, purpose, and approach can help explain why SAFE's Board of Directors believes joining forces with BECU is the right opportunity to build on SAFE's legacy and continue serving members for generations to come.
Learn More
Check out safecu.org/combination for more information on the combination and About Us | BECU for more information about BECU.
