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✅ PR Release: NCUA, CA DFPI and WA DFI grant regulatory approval for proposed combination of BECU and SAFE Credit Union  

SEATTLE and FOLSOM, Calif. (August 4, 2026) – BECU and SAFE Credit Union today announced that the National Credit Union Administration (NCUA), Washington State Department of Financial Institutions (DFI), and California Department of Financial Protection and Innovation (DFPI) have granted regulatory approval to advance the proposed combination of the two credit unions. This approval marks an important milestone in the combination process and brings the organizations a step closer to expanding the value, services and support available to their members.

✔ The next step is approval by SAFE members. Additional information about the benefits of the proposed combination and details on how and when to vote will be shared with SAFE members in the coming weeks.

The combined credit union will build on SAFE's deep local roots in Northern California and BECU's member focus and ability to deliver day one value to SAFE members. Together, they will accelerate investment in the products, services, and technology members rely on, while strengthening both credit unions' longstanding commitment to the financial well-being of their members and the communities they serve.

😎 “This combination is rooted in our shared values and a shared ambition to do more for our members, communities, and employees than either of us could achieve alone,” said Beverly Anderson, president and CEO of BECU. “For decades, both of our credit unions have helped members build financial well-being while investing in the communities we serve. That same commitment to putting members first will continue to guide how we move forward together.”

“We are thrilled to reach this milestone and be one step closer to bringing our two credit unions together,” said Faye Nabhani, president and CEO of SAFE. “This combination will build a stronger future for SAFE members, one that honors who we are while delivering more value. By combining with BECU, we can do even more to support our members' financial well-being for years to come.”

Subject to the outcome of the SAFE member vote, the combination is expected to close on January 1, 2027. Until that time, both credit unions will continue to operate independently.

 More information about the proposed combination can be found at www.becuandsafe.org and www.safecu.org/combination.

 

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