On Nov. 18, 2025, BECU and SAFE Credit Union announced they have signed a definitive agreement to combine, uniting the two credit unions under BECU’s charter. The combined organization will serve 1.8 million members and operate more than 80 locations, with over $33 billion in assets, making it the fourth largest credit union by asset size in the United States.
The proposed combination aims to enhance member benefits and increase community impact through accelerated investment and expanded services. Both organizations said the merger would deepen their ability to make meaningful community investments and extend BECU’s community-focused banking to new markets across a broader geographic footprint.
“This is an exciting opportunity for both credit unions, made possible by our shared values of putting our members first and making deep connections with our communities, as well as a strong commitment to sound operations and financial management, which are the hallmarks of BECU and SAFE,” Beverly Anderson, President and Chief Executive Officer of BECU, said. “At BECU, we’ve always believed that the strength of our cooperative comes from our unwavering focus on people – our members, our employees and the communities we serve. This combination will accelerate our ability to extend our reach and impact to new members and markets, delivering state-of-the-art products and services fueled by BECU and SAFE’s dedicated teams. It is inspiring what this combination enables us to do and I look forward to working closely with Faye Nabhani and the dedicated SAFE team as we begin this journey together.” According to Faye Nabhani, President and Chief Executive Officer of SAFE Credit Union: “This partnership is a powerful alignment of purpose and potential that leverages our strengths and recognizes our shared values. As the needs of our members and communities continue to evolve, combining credit unions builds on our strong foundation, ensures we deliver additional value and maintains the best of what has made SAFE a successful and trusted financial partner for over 80 years.”
The Boards of Directors for both organizations have unanimously approved the proposed combination. The transaction remains subject to regulatory approvals as well as a vote by SAFE’s membership. The closing is expected by early 2027. Until then, both credit unions will continue operating independently without changes in service for members.
Upon completion of the merger, Anderson will lead the combined credit union while Nabhani will serve as Market President for Greater Sacramento region. SAFE will also have representation on the board of directors for the combined entity.
More information about the proposed merger can be found at BECU website.
For further details see the official announcement.
