Credit union heavyweight BECU to expand with cross-state merger

Tukwila-based credit union BECU is merging with Folsom, California-based SAFE Credit Union.

The credit unions expect the merger, announced Tuesday, to close by early 2027. The merger gives BECU, already Washington's largest credit union by asset size, a foothold in California, where it currently doesn't have any branches.

"This combination will accelerate our ability to extend our reach and impact to new members and markets, delivering state-of-the-art products and services," BECU CEO Beverly Anderson said in a news release.

The combined credit union will have 1.8 million members, more than 80 locations and more than $33 billion in assets, according to the release. The credit unions didn't disclose the financial terms of the deal, but a BECU spokesperson said in an email it "is structured as a combination of assets, liabilities and memberships."

https://www.bizjournals.com/seattle/news/2025/11/18/becu-safe-credit-union-merger-tukwila-anderson.html