BECU digs in to defend home turf in Washington

The $29.7 billion-asset Boeing Employees CU already boasts 1.5 million members but is seeking more in its home state.

Boeing Employees Credit Union, the fifth-largest credit union in the U.S., is expanding its reach.

The Tukwila, Washington-based company this week announced plans to open branches in Kirkland and Stanwood, Washington. That comes on the heels of previously-unveiled plans to expand further into Seattle, Spokane and Tacoma.

The $29.7 billion-asset BECU had grown its membership to nearly 1.5 million at the end of the third quarter of 2024.

BECU could be facing more competition in the form of fellow credit unions as Washington was a hotbed for CU-bank deals last year. Five community banks in the state sold to credit unions – more than any other state.

“Expanding our footprint will allow us to better support the causes closest to these communities to drive even greater local impact and provide the tools and services our members need to feel empowered in reaching their financial goals,” said Jason Rudman, BECU’s chief member and digital experience officer in a press release. 

The Kirkland and Stanwood branches will open in the second half of 2025 while the new Tacoma office will be open in February.

A branch in Seattle’s White Center neighborhood is slated to open in March, and the new office in Spokane will open in April.

The credit union currently operates 60 financial centers, including two in South Carolina.

BECU earned roughly $177 million through the third quarter of 2024, a 43% increase from a year earlier, according to call report data from the National Credit Union Administration.

There are only 21 federally insured credit unions with more than $10 billion in assets – including BECU. Those credit unions held  $578.6 billion in assets, or 25% of total system assets at the end of the third quarter. 

Credit unions in that category reported loan growth of 1.6% over the year, and membership rose 3.5%. 

Net worth increased 5% for those 21 credit unions.

“With these additional new locations, 2025 is shaping up to be an exciting year for BECU.”

 – Jason Rudman
Chief Member and Digital Experience Officer
BECU

2025-01-17T07:23:51-08:00
Go to Top