Credit Unions in the State of Washington
Credit Unions in the State of Washington, also known as Boeing Employees Credit Union (BECU), is a 501(c)(14) nonprofit cooperative organization headquartered in Tukwila, Washington. The organization was established in 1935 and has been tax-exempt since December 1972. BECU operates as a member-owned financial institution serving over 1.3 million members across Washington state and beyond.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$29.4B
-1.7% YoY
Annual Giving
$9.6M
+5.7% YoY
Grant Count
192
+15.0% YoY
Avg Grant Size
$50K
-8.0% YoY
Mission & Focus Areas
BECU's mission centers on promoting thrift among members and providing access to credit at fair and reasonable rates of interest. The organization materializes this mission through originating loans and providing comprehensive financial services to its membership base.
Grantmaking
BECU operates the BECU Foundation, a 501(c)(3) corporate foundation also located in Tukwila, Washington, which was formed in 1996. The foundation serves as the primary grantmaking vehicle for the organization.
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Geographic Focus
Where this funder awards grants
BECU operates primarily in Washington state, with its headquarters in Tukwila. The organization serves members across Washington and has expanded its reach to include operations in Oregon and Idaho through partnerships.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Credit Unions in the State of Washington (2023):
- Total Revenues: $1,537,981,153
- Total Expenses: $1,358,881,191
- Total Assets: $29,871,889,353
- Number of Employees: 3,629
Credit Unions in the State of Washington (2022):
- Revenue: $1,076,116,183
- Expenses: $879,646,068
- Net Income: $196,470,115
- Net Assets: $1,947,691,659
- Total Assets: $28.8 billion
- Total Liabilities: $26.8 billion
BECU Foundation (2024):
- Total Revenues: $3,037,257
- Total Expenses: $877,471
- Total Assets: $9,523,593
Executive Compensation (2022):
- Executive Compensation: $37,893,682
- Other Salaries and Wages: $315,203,476
- Professional Fundraising Fees: $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $29,352,686,764 | $29,871,889,353 | $28,780,643,575 |
| Revenue | $1,776,584,337 | $1,537,981,153 | $1,076,116,183 |
| Expenses | $1,536,607,880 | $1,358,881,191 | $879,646,068 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $451,570,523 | $423,065,240 | $240,509,207 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
BECU Foundation:
- Gloria Dixon, Executive Director (as of November 2024)
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Debra Somberg | Director Chairperson | 6 | $154,375 |
| Bill Longbrake | Director | 6 | $126,250 |
| Denis Farmer | Director | 6 | $113,750 |
| John McMurray | Director | 6 | $131,305 |
| Manolo Sanchez | Director | 6 | $113,750 |
| Matthew Oppenheimer | Director | 6 | $126,250 |
| Patrick Smith | Director | 6 | $120,261 |
| Susan Ehrlich | Director | 6 | $65,481 |
| Vanessa Pegueros | Director | 6 | $113,750 |
| John Benson Porter | Former President CEO | — | $926,229 |
| Beverly Anderson | President CEO | 40 | $2,617,610 |
| Melba Bartels | EVP Chief Financial Officer | 40 | $2,121,166 |
| Drew Wolff | EVP Chief Financial Officer | 40 | $601,509 |
| Mike Ryan | EVP Chief Legal Officer and General Counsel | 40 | $571,476 |
| Shawna Thompson | EVP Head of Operations | 40 | $550,836 |
| Michael Scott Strand | EVP Chief Operating Officer | 40 | $1,957,229 |
| John Stewart | EVP Chief Risk Officer | 40 | $762,524 |
| Nathan Ramachandran | EVP Chief Technology Officer | 40 | $930,493 |
| Douglas Marshall | EVP Chief Product Digital Officer | 40 | $981,811 |
| Jason Rudman | EVP Chief Membership Experience Officer | 40 | $786,940 |
| Raquel Karls | EVP Chief People Officer | 40 | $604,425 |
| Beth Hale | EVP Chief Consumer and Business Solutions Officer | 40 | $739,441 |
| Rick Eiel | EVP Chief Data and Analytics Officer | 40 | $1,051,060 |
| Thomas Berquist | Former EVP Chief Marketing Officer | 40 | $1,208,316 |
| Melanie Walsh | Former EVP Chief Administrative Officer | 40 | $200,840 |
| Fumbi Chima | EVP Chief Technology Transformation Officer | 40 | $361,961 |
| Dana Gray | SVP Commercial and Business Services | 40 | $831,852 |
| Lisa Grove | SVP Chief Audit Executive | 40 | $425,452 |
| Xiaobo Ni | Sr Mortgage Advisor - Primary Market | 40 | $2,152,742 |
| Bobbi Moody | Sr Mortgage Advisor - Primary Market | 40 | $1,037,368 |
| Sonika Saini | Sr Mortgage Advisor - Primary Market | 40 | $755,925 |
| Ivan Seda | SVP Financial Performance Management | 40 | $753,717 |
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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