SAFE Credit Union and BECU to merge, creating nation’s fourth-largest credit union

SAFE Credit Union and BECU announced a merger agreement that will create the fourth-largest credit union in the United States, serving 1.8 million members and holding more than $33 billion in assets upon completion by early 2027.​

Merger Details

• Both credit unions’ boards have unanimously approved the merger, which is subject to regulatory approvals and a vote by SAFE’s membership.​

• The combined entity will operate over 80 locations and continue under BECU’s charter, aiming to deliver an expanded suite of financial products, enhanced technology, and stronger cybersecurity.​

• The merger joins BECU’s scale (1.5 million members, $28.9 billion in assets) with SAFE’s regional depth (245,000 members, $4.6 billion in assets).​

Leadership and Operations

• Beverly Anderson (BECU President and CEO) will lead the combined organization, while Faye Nabhani (SAFE CEO) will serve as Market President for the Sacramento region.​

• SAFE will retain local branding and commitments for at least a year post-merger, and key community sponsorship agreements like the SAFE Credit Union Convention Center will remain in place.​

Timeline and Impact

• The merger is expected to close by early 2027. Until then, both credit unions will continue to operate independently, with no immediate changes to member services or local branding.​

• Members can anticipate broader access to financial products, improved digital banking tools, and enhanced resources for both personal and business banking needs.​

This strategic partnership signals a consolidation trend within the credit union sector, aiming to combine member-first service with the expanded capabilities and stability of a larger financial institution.​