Boeing Employees' Credit Union (BECU) initially was founded to serve the employees of Boeing (naturally), which called Seattle home until 2001. Today, membership in the credit union is no longer restricted to employees of the aircraft manufacturer and their families; in fact, all who live, work, go to school, or belong to a church in Washington state are eligible. BECU has about 45 locations in the state's Puget Sound region; many of them are in Safeway supermarkets. The credit union offers standard retail financial services, such as checking and savings accounts, credit cards, home mortgages, and other loans. Established in 1935, BECU boasts more than 675,000 members.
The credit union also participates in a shared-branch system, giving its members access to financial services at approximately 4,000 locations throughout the US and internationally.
Affiliate BECU Investment Services offers investment management, financial advisory, insurance, and retirement and college planning services through an agreement with third-party provider LPL Financial. BECU Trust Company provides investment management, trust administration, and estate planning and settlement services.
After falling into the red in 2009, BECU returned to profitability the following year as it reported fewer loan delinquencies and loan losses. In an effort to attract and retain members, the credit union is focused on offering more favorable loan and deposit rates and fewer fees. BECU is also upgrading several branches inside grocery stores to larger stand-alone locations. – less