BECU, the Eastside's dominant credit union, moved a step closer to becoming the fourth-largest in the country after three regulators approved its proposed merger with Sacramento-based SAFE Credit Union on Aug. 5.

The combined institution would hold more than $34 billion in assets, serve 1.8 million members and operate more than 80 branches across Washington, South Carolina and Northern California. For the roughly 1.5 million BECU members who bank at locations on Bellevue Way, NE 20th Street and Factoria Boulevard, the credit union said operations will not change until the deal closes.

One hurdle remains: SAFE's 244,000 members must vote to approve the merger. Voting details have not been released yet but are expected in the coming weeks, according to 425 Business. If approved, the merger is expected to close by Jan. 1, 2027.

BECU members do not get a vote.

The deal, first announced in November 2025, required sign-off from the National Credit Union Administration, the Washington State Department of Financial Institutions and the California Department of Financial Protection and Innovation. All three granted approval this week.

BECU president and CEO Beverly Anderson will lead the combined organization. She said in a statement that the merger reflects shared values and a goal to expand member services beyond what either institution could offer independently. SAFE president and CEO Faye Nabhani would become market president for the Greater Sacramento region, and SAFE would keep a seat on the combined board.

SAFE will retain its own branding in California, likely with a tagline referencing BECU, according to the Sacramento Business Journal. For BECU, the merger adds geography and membership. For SAFE, it adds technology and cybersecurity capabilities.

BECU originated as the credit union for Boeing employees and is now headquartered in Tukwila. It operates three tellerless branches in Bellevue: Downtown Bellevue at 200 Bellevue Way NE, the Eastside Financial Center at 13000 NE 20th St. and Factoria at 3710 Factoria Blvd SE. Additional Eastside locations include Kirkland, Newcastle and Redmond.

The credit union has not announced whether the merger will affect local branch staffing or services. BECU and SAFE will continue operating independently until the deal closes.