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Your Money Is Safe at BECU

Updated May 25, 2023 – BECU is financially solid with strong capital and liquidity positions that allow us to weather economic uncertainty. And like all credit unions, BECU is federally insured by the National Credit Union Administration (NCUA).

Your Deposits Are Federally Insured

The National Credit Union Administration is an independent federal agency that exists to protect credit unions and their members through effective supervision, regulation and insurance. The agency's function is similar to the Federal Deposit Insurance Corporation (FDIC) that protects bank deposits. Created by Congress in 1970, the NCUA has upheld its mission and protected all insured deposits for more than 50 years. The NCUA's protection guarantees the money in your checking, savings, money market or certificate account up to $250,000.

BECU Is Financially Solid

Through 2022, BECU maintained its rank as the fourth-largest credit union in the U.S., with more than $28 billion in assets and almost 1.4 million members. More than 100,000 new members joined BECU in 2022, a 3.6% increase in our membership base.  

BECU had a net worth ratio of 10.66% in 2022, up from 9.82% in 2021, which provides a sizeable capital base that protects our members' investments. BECU's net worth ratio is well above the 7% that the NCUA considers well-capitalized for credit unions.

Read more in the BECU 2022 Annual Report

Members Come First

BECU's purpose is to bring people together to improve the financial well-being of our members and our communities. Here are a few ways we delivered on that purpose in 2022:

  • We returned more than $362.3 million to our members (an average of $265 per member) through great rates and low fees. That's up 8% from 2021.
  • More than 42,500 members saved an estimated $2.7 million through our annual Loan Reprice Program, which automatically reduces interest rates on loans and credit cards for eligible members who demonstrate healthy financial habits, if they're not paying our lowest published rate already
  • We granted $1.26 million to first-time homebuyers to support the down payment and closing costs on more than 170 mortgages.
  • We launched BECU Envelopes, providing members with an easy way to target specific savings goals by directing money in their savings or money market accounts into digital envelopes. More than 25,000 members have used the tool and earmarked more than $45 million to meet their goals.

Learn more about BECU benefits