We Are a Financial Cooperative That Exists to Actively Serve Our Membership
Governance
Doing the Right Thing Comes Naturally
In the Credit Union tradition, BECU has developed fair and ethical guiding principles designed to serve our membership. This includes open communication about our financial standing. BECU is a cooperative society organized under Washington state law as a nonprofit corporation. BECU promotes thrift among its members and creates a source of credit for them at fair and reasonable rates of interest. BECU is dedicated to "people helping people" and will strive to serve its members by providing superior financial products and services.
Read the BECU Articles of Incorporation
Board of Directors
As a member-owned cooperative, BECU is governed by a Board of Directors that is responsible for guiding the general direction of the credit union in the best interests of the membership and in accordance with BECU bylaws. We are proud to have this group of qualified professionals dedicate their time to serve BECU.
Audit Committee
The Audit Committee provides oversight of the audit function of the credit union as well as the safety and soundness of the credit union through monitoring risks and controls associated with its business objectives, strategies, and plans.
Stipends
By paying a reasonable stipend to Officials for their time and effort, BECU enhances its ability to attract and retain well-qualified Officials who can further BECU's purpose and strategic goals in a safe and sound manner. Serving as an Official of BECU requires a substantial commitment of time and effort and well-qualified individuals are in demand by other organizations to serve in governance capacities. Consequently, BECU believes that the payment of stipends to its Officials is in BECU's best interests.
BECU and an independent third-party consultant periodically review Official stipends to ensure that they are:
- Proportional to the services provided;
- Reasonable considering our financial condition; and
- Comparable to compensation paid by organizations of a similar size, location, and operational complexity.
Executive Management Team
The BECU Executive Management Team is responsible for ensuring that the strategic direction and day-to-day operations of BECU support our credit union principles and bring value to members and our local communities.
Compensation for BECU's Chief Executive Officer (CEO) is set by the BECU Board of Directors' Compensation Committee and reviewed every other year. Compensation is determined based on a variety of factors and includes base salary, annual incentive pay, long-term incentive pay, and retirement benefits. This approach delivers a balanced, yet competitive pay-for-performance compensation model that attracts and retains high-performing leaders who are responsible for the stability and sustained growth of BECU, the financial health of our members, and our unique culture that fosters and celebrates engaged, caring employees. View the process for setting CEO compensation.
2023 Annual Meeting Information
BECU's Annual Membership Meeting took place virtually on Wednesday, April 26, 2023 at approximately 6:30 p.m. At the meeting the Audit Committee's Annual Report and election results were presented to the membership.
Watch the 2023 Annual Meeting
Beverly Anderson
President and CEO
Beverly Anderson has more than 30 years of experience in the financial services industry. Her core areas of focus include strategy development and sustainable growth, overseeing daily operational activities, and fostering BECU's culture of promoting the financial well-being of its members and communities.
Beverly has held executive roles defining and executing growth strategies at Equifax, Wells Fargo, and American Express. She serves on the boards of Expedia Group, Accion, Sword Health, and the Harvard Business School African-American Alumni Association. Beverly holds an MBA with distinction from Harvard Business School and graduated summa cum laude with a BS in business from Florida A&M University.
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Rick Eiel
Executive Vice President and Chief Data and Analytics Officer
Rick leads BECU's data and analytics division, where he's focused on developing and enabling enterprise data, analytic and insight capabilities that will inform and accelerate the credit union's business strategies, execution and performance.
Prior to BECU, Rick was the Head of Product and Analytics at Equifax and held leadership roles at Wells Fargo and JPMorgan Chase. Rick holds an MBA with concentrations in Information Systems and Economics from New York University's Leonard N. Stern School of Business.
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Patrick Smith
BECU Board of Directors
Patrick is currently the Head of Small Business & Home Lending at Santander Bank, N.A. Previously, he served as an Executive Vice President at KeyBank and was also a member of the Executive Council.
Patrick has held senior leadership roles at Liberty Mutual, Capital One, Wells Fargo and Bank of America. Patrick holds an M.B.A. from the University of Chicago Booth School of Business, an M.S. in IT management from the University of Virginia, and a B.S. in finance from Tuskegee University.
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Debra Somberg
Board Chairperson, BECU Board of Directors
Debra is co-founder of WinWin, an organization supporting new ventures that drive synergistic benefits for the private, social and public sectors. Debra also sits on the boards of The Seattle Foundation and The Port Blakely Companies.
Previously, she was the co-managing partner at Maveron LLC. Debra began her career at Goldman, Sachs and McKinsey & Co., and has served as Senior Managing Director at Montgomery Securities and a founding partner at Thomas Weisel Partners. Debra holds a B.A. from Stanford University and an M.B.A. from Harvard Business School.
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Susan Ehrlich
BECU Board of Directors
Susan retired in April 2021 as the Chief Executive Officer at Earnest, a San Francisco-based financial technology company focused on providing low-interest loans to financially responsible people, while providing the opportunity for customized repayment plans.
Susan has a track record of leveraging technology to improve customer experience and financial health. Prior to Earnest, Susan held business leadership and product development roles in financial services at Simple, Lending Club, Amazon, Chase, and Citibank. Susan holds a B.A. with honors in organizational behavior and management from Brown University and an M.B.A. from the Harvard Business School.
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Doug Marshall
Executive Vice President and Chief Digital & Product Officer
Doug joined BECU in 2013. He leads BECU’s product and digital division, where he’s focused on identifying emerging market trends, digital and data strategies, as well as ensuring BECU’s products and services perform well for our members.
Before joining BECU, Doug was Chief Membership Officer at First Tech Federal Credit Union. Prior to that, he held senior management positions at both Washington Mutual and Bank of America.
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Scott Strand
Executive Vice President and Chief Operating Officer
Scott joined BECU in 2008 and has over 25 years of experience in banking and financial services. As Chief Operating Officer, Scott leads BECU's core lines of business including retail branch banking, wealth management, commercial and business banking, and consumer, mortgage and indirect lending.
Scott holds a BA from Western Washington University and an Executive MBA from the University of Washington. He is also a graduate of the Pacific Coast Banking School, where he continues to serve as a thesis advisor. Scott serves on serval for-profit and nonprofit boards, including Members Trust Company, Landau Associates, United Way of Snohomish County, Greater Seattle Partners, Economic Alliance of Snohomish County and the UW Foster Business Scholl Advisory Board.
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Fumbi Chima
Executive Vice President and Chief Information & Transformation Officer
Fumbi joined BECU in 2020 and has more than 25 years of experience in both the retail and financial sectors. She leads BECU's information technology (IT) division, overseeing its technology strategy, information and IT operations.
Before joining BECU, Fumbi was Chief Information and Digital Officer at adidas in Germany and held similar roles at Walmart Asia and American Express. She currently serves on the corporate boards for Africa Prudential and Work & Co, holds advisory roles for SAP Executive Advisory and Apptio EMEA Advisory, and is on the board of Women at Risk International Foundation. Fumbi holds a BA in Politics and Philosophy from The University of Hull, U.K.
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Tom Berquist
Executive Vice President and Chief Marketing Officer
Tom leads BECU's marketing, co-operative affairs, affinity programs and strategic planning efforts.
Tom has more than 30 years of experience in the financial services industry and has been with BECU since 1994. He currently serves on the boards of Housing Hope and Business Impact Northwest. Tom holds a BA in Business from the University of Washington and an MBA from Seattle University.
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John McMurray
BECU Board of Directors, Audit Committee
John is the Chief Risk Officer and Chief Auditor for Russell Investments. John has extensive experience as a board director as well as a senior financial services executive working with boards, including audit, finance, investment, and risk committees.
He holds an M.S. from MIT, an M.B.A. from the University of Texas at San Antonio and a B.S. from Trinity University. He is a Chartered Financial Analyst, a Certified Public Accountant and a Charted Global Management Accountant.
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Matthew Oppenheimer
BECU Board of Directors
Matt is the co-founder and CEO of Remitly. Prior to starting Remitly, Matt was Head of Mobile and Internet Banking Initiatives for Barclays Bank Kenya and worked for the Barclays Corporate Bank in the United Kingdom.
Matt was named EY Entrepreneur of the Year 2016 in the Pacific Northwest and has been recognized as a Puget Sound Business Journal “40 Under 40” honoree for his work with Remitly. He holds a B.A. in psychology from Dartmouth College and an M.B.A. from Harvard Business School.
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Drew Wolff
Audit Committee Chairperson
Drew is currently the Chief Financial Officer (CFO) of Trupanion, an industry leading pet insurance provider based in Seattle. Previously, he served as Global Treasurer at Starbucks before becoming CFO of its International and Channel Development divisions. Prior to that, he held senior leadership roles at CameoWorks, Barclays and Washington Mutual.
Drew holds an MBA from the Stephen M. Ross School of Business at the University of Michigan and a BS in Economics from the US Naval Academy.
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Bill Longbrake
BECU Board of Directors
Bill has extensive experience in finance and investments, macroeconomics and monetary policy, risk management, housing, and public policy. He has served in business, academic and government organizations.
Bill began his career in Washington, D.C. in various government positions from 1970 – 1982. He then held senior leadership roles at Washington Mutual, helping the company become the sixth largest depository institution in the U.S.
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Vanessa Pegueros
BECU Board of Directors, Audit Committee
Vanessa is a Chief Information Security Officer with over 26 years of experience managing technology, security and risk teams. She has worked with startups and Fortune 500 companies around the world, and has deep experience in governance, risk management and cybersecurity.
Vanessa has a BS in Mechanical Engineering from UC Berkeley, an MBA from Stanford University and a MS in Telecommunications from University of Colorado, Boulder.
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Manolo Sanchez
BECU Board of Directors
Manolo is currently a Director at Fannie Mae and Stewart Information Systems. Previously, he served as chair and CEO of BBVA Compass and held leadership roles at the American Bankers Association, the Institute of International Bankers and the Greater Houston Partnership.
Manolo has nearly 30 years of experience in the financial services industry and teaches at Rice University's Jones School of Business. He is also an advisor to several fintech and blockchain startups and holds M.Sc's from the London School of Economics and the College of Europe in Bruges, Belgium.
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Melba Bartels
Executive Vice President and Chief Financial Officer
Melba joined BECU in May 2017, bringing 25 years of experience in the financial services industry.
Melba's career includes roles as CFO and Senior Executive Vice President at HomeStreet Bank in Seattle, as well as CFO of Auto Finance and Student Lending at JPMorgan Chase in New York. Melba holds a BA in Business and an MBA from the University of Washington.
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John Stewart
Executive Vice President and Chief Risk Officer
John leads the Legal, Governance, Risk, and Compliance functions at BECU.
John has nearly 20 years of experience in the financial services industry. He serves on the boards for the Open Window School and the Institute for Family Development, and is a faculty member of the University of Washington's Computational Finance and Risk Management program. John holds a PhD in Mechanical and Aerospace Engineering from Princeton University.
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Denis Farmer
BECU Board of Directors, Audit Committee
Denis is a Managing Director with Slalom Consulting, a purpose-driven consultancy focused on strategy, technology and business transformation that is dedicated to helping people reach for and realize their vision.
Prior to joining Slalom, Denis was a partner with Accenture, in addition to earlier roles with Electronic Data Services and various Internet startups.
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Melanie Walsh
Executive Vice President and Chief Administrative Officer
Melanie brings three decades of experience in financial services to lead BECU’s Human Resources and Administration division.
Melanie joined BECU in 1989 and led various operational areas over the years: Call Center, Branch Operations, Member Care, BECU’s Branch Network, and, in 2017, HR and Administration. Melanie previously served on the Board of Fiserv and the Advisory Council of Northwest Credit Union Alliance.
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