Through paid-time-off programs, 517 employees of Washington state’s largest credit union volunteered more than 16,600 hours last calendar year. They also donated more than $300,000 to local causes, through a BECU match of charitable donations made by employees up to $5,000.
Taken as a whole, with its own philanthropic giving and community programs, BECU put more than $3 million back into the neighborhoods where it serves members’ financial needs.
“At BECU, our focus is on making a positive impact on the lives of our members and our local communities,” said Benson Porter, CEO of BECU. “We’re honored to have 1 million members for the first time in our history, giving us greater resources to deliver more value and benefits.”
Additionally, BECU returned $174 million to its members in the form of better rates and lower fees compared to bank averages.
The community banks and regional financial institutions around the state have long argued that non-profit credit unions, like BECU, have an unfair competitive advantage by not being held to the same taxation levies and regulatory measures as for-profit commercial banks.