The SAFE/Boeing Takeover: Reading Between The Lies... (e-r-r) Lines.

             "Is good for everything it should be good for! "                            

"From: SAFE Credit Union <@email.safecu.org> [from Faye Nabhani ]
Date: Tue, Aug 4, 2026 at 9:49 AM "

'An Important Milestone for SAFE Members "

Dear Valued SAFE Member,

"We’re excited to share an important milestone in the proposed combination between SAFE Credit Union and BECU. The National Credit Union Administration (NCUA), Washington State Department of Financial Institutions (DFI), and California Department of Financial Protection and Innovation (DFPI) have approved the proposed combination following a comprehensive review." 

"Regulatory approval marks a significant and exciting milestone. It reflects the successful completion of a thorough, independent review and confirms that the proposed combination meets the legal and regulatory requirements needed to move forward to the next step. Just as importantly, it reinforces the thoughtful due diligence and strategic evaluation that led SAFE and BECU to propose coming together in the best interests of members, employees, and the communities we serve."

"The next important step in the process is the member vote. "

 ✔ What did the State/Federal regulators actually "approve" ? 

1]  Endorsed this merger as a good deal for SAFE members?                  YES ◻    NO   ❎

 2] Warranted that this merger is a sound business transaction?               YES ◻    NO   ❎

3] Verified thorough "due diligence" by the SAFE Board?                       YES ◻    NO   ❎

 4] Prohibited the return of capital to SAFE members ?                               YES ◻    NO   ❎  

5] Validated  the SAFE Board's "comprehensive review"?                        YES ◻    NO   ❎ 

6]  Required future community support to increase?                               YES ◻    NO   ❎

7] Guaranteed lower rates/more branches for SAFE members ?                 YES ◻    NO   ❎

8] Ratified that SAFE had selected the best merger candidate?                 YES ◻    NO   ❎ 

9] Confirmed the effectiveness of member dialogue prior to agreement ?    YES ◻    NO   ❎ 

10] Attested SAFE met minimum CU legal/regulatory merger requirements ?   YES  ❎    NO   ◻      

 Snake oil aside, regulators have not approved this merger... California law states that a majority vote of all SAFE members is required for merger approval.