We Are a Financial Cooperative That Exists to Actively Serve Our Membership

Governance

Doing the Right Thing Comes Naturally

In the Credit Union tradition, BECU has developed fair and ethical guiding principles designed to serve our membership. This includes open communication about our financial standing. BECU is a cooperative society organized under Washington state law as a nonprofit corporation. BECU promotes thrift among its members and creates a source of credit for them at fair and reasonable rates of interest. BECU is dedicated to "people helping people" and will strive to serve its members by providing superior financial products and services.

Read the BECU Bylaws

Read the BECU Articles of Incorporation

Board of Directors

As a member-owned cooperative, BECU is governed by a Board of Directors that is responsible for guiding the general direction of the credit union in the best interests of the membership and in accordance with BECU bylaws. We are proud to have this group of qualified professionals dedicate their time to serve BECU. 

Audit Committee

The Audit Committee provides oversight of the audit function of the credit union as well as the safety and soundness of the credit union through monitoring risks and controls associated with its business objectives, strategies, and plans. 

Stipends

By paying a reasonable stipend to Officials for their time and effort, BECU enhances its ability to attract and retain well-qualified Officials who can further BECU's purpose and strategic goals in a safe and sound manner. Serving as an Official of BECU requires a substantial commitment of time and effort and well-qualified individuals are in demand by other organizations to serve in governance capacities. Consequently, BECU believes that the payment of stipends to its Officials is in BECU's best interests.

BECU and an independent third-party consultant periodically review Official stipends to ensure that they are:

  • Proportional to the services provided;
  • Reasonable considering our financial condition; and
  • Comparable to compensation paid by organizations of a similar size, location, and operational complexity.

View Stipend Disclosure

Executive Management Team

The BECU Executive Management Team is responsible for ensuring that the strategic direction and day-to-day operations of BECU support our credit union principles and bring value to members and our local communities. 

Compensation for BECU's Chief Executive Officer (CEO) is set by the BECU Board of Directors' Compensation Committee and reviewed every other year. Compensation is determined based on a variety of factors and includes base salary, annual incentive pay, long-term incentive pay, and retirement benefits. This approach delivers a balanced, yet competitive pay-for-performance compensation model that attracts and retains high-performing leaders who are responsible for the stability and sustained growth of BECU, the financial health of our members, and our unique culture that fosters and celebrates engaged, caring employees. View the process for setting CEO compensation.

2021 Annual Meeting Information

BECU's Annual Membership Meeting took place via virtual conference technology on Thursday, April 22, 2021 at approximately 6:30 p.m. At this meeting, the results of our annual election, conducted and tabulated by CU Ballot (an independent firm not affiliated with BECU) were reported to the membership.

Listen to the 2021 Annual Meeting

Debra Somberg

Debra Somberg

Board Chairperson, BECU Board of Directors

Debra is co-founder of WinWin, an organization supporting new ventures that drive synergistic benefits for the private, social and public sectors. Debra also sits on the boards of The Seattle Foundation and The Port Blakely Companies.

Previously, she was the co-managing partner at Maveron LLC. Debra began her career at Goldman, Sachs and McKinsey & Co., and has served as Senior Managing Director at Montgomery Securities and a founding partner at Thomas Weisel Partners. Debra holds a B.A. from Stanford University and an M.B.A. from Harvard Business School.

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Susan Ehrlich

Susan Ehrlich

BECU Board of Directors

Susan is the Chief Executive Officer at Earnest, a San Francisco-based financial technology company focused on providing low-interest loans to financially responsible people, while providing the opportunity for customized repayment plans.

Susan has a track record of leveraging technology to improve customer experience and financial health. Prior to Earnest, Susan held business leadership and product development roles in financial services at Simple, Lending Club, Amazon, Chase, and Citibank. Susan holds a B.A. with honors in organizational behavior and management from Brown University and an M.B.A. from the Harvard Business School.

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Manolo Sanchez

Manolo Sanchez

BECU Board of Directors

Manolo is currently a Director at Fannie Mae and Stewart Information Systems. Previously, he served as chair and CEO of BBVA Compass and held leadership roles at the American Bankers Association, the Institute of International Bankers and the Greater Houston Partnership.

Manolo has nearly 30 years of experience in the financial services industry and teaches at Rice University's Jones School of Business. He is also an advisor to several fintech and blockchain startups and holds M.Sc's from the London School of Economics and the College of Europe in Bruges, Belgium.

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Benson Porter

Benson Porter

President/CEO

Benson has more than 25 years of experience within the financial services industry and became the President/CEO of BECU in 2012.

Benson’s prior experience includes serving as the President/CEO of First Tech Federal Credit Union, and Chief Administrative Officer for Washington Mutual. He currently serves on multiple boards: Federal Home Loan Bank of Seattle/Des Moines; CO-OP Financial Services; CU Direct; Overseers of Whitman College.

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Tom Berquist

Tom Berquist

Executive Vice President and Chief Marketing Officer

Tom leads BECU's marketing, co-operative affairs, affinity programs and strategic planning efforts.

Tom has more than 30 years of experience in the financial services industry and has been with BECU since 1994. He currently serves on the boards of Housing Hope and Business Impact Northwest. Tom holds a BA in Business from the University of Washington and an MBA from Seattle University.

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Doug Marshall

Doug Marshall

Executive Vice President and Chief Digital & Product Officer

Doug joined BECU in 2013. He leads BECU’s product and digital division, where he’s focused on identifying emerging market trends, digital and data strategies, as well as ensuring BECU’s products and services perform well for our members.

Before joining BECU, Doug was Chief Membership Officer at First Tech Federal Credit Union. Prior to that, he held senior management positions at both Washington Mutual and Bank of America.

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Scott Strand

Scott Strand

Executive Vice President and Chief Operating Officer

Scott joined BECU in 2008 and has over 25 years of experience in banking and financial services. As Chief Operating Officer, Scott leads BECU's core lines of business including retail branch banking, wealth management, commercial and business banking, and consumer, mortgage and indirect lending.

Scott holds a BA from Western Washington University and an Executive MBA from the University of Washington. He is also a graduate of the Pacific Coast Banking School, where he continues to serve as a thesis advisor. Scott serves on serval for-profit and nonprofit boards, including Members Trust Company, Landau Associates, United Way of Snohomish County, Greater Seattle Partners, Economic Alliance of Snohomish County and the UW Foster Business Scholl Advisory Board.

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Melanie Walsh

Melanie Walsh

Executive Vice President and Chief Administrative Officer

Melanie brings three decades of experience in financial services to lead BECU’s Human Resources and Administration division.

Melanie joined BECU in 1989 and led various operational areas over the years: Call Center, Branch Operations, Member Care, BECU’s Branch Network, and, in 2017, HR and Administration. Melanie previously served on the Board of Fiserv and the Advisory Council of Northwest Credit Union Alliance.

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David Yonce

David Yonce

BECU Board of Directors

David is a Partner and President for SkinSpirit Essential LLC, a premier destination for aesthetic skin and body care, with multiple locations in California and Washington.

He has extensive experience with privately held middle market companies in the Northwest, serving in the roles of President, Chief Financial Officer and Chief Operating Officer. David graduated from the University of Washington’s Foster School of Business with a B.A. (Accounting Concentration) and is a Certified Public Accountant-Retired.

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Denis Farmer

Denis Farmer

BECU Board of Directors, Audit Committee

Denis is a Managing Director with Slalom Consulting, a purpose-driven consultancy focused on strategy, technology and business transformation that is dedicated to helping people reach for and realize their vision.

Prior to joining Slalom, Denis was a partner with Accenture, in addition to earlier roles with Electronic Data Services and various Internet startups.

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Bill Longbrake

Bill Longbrake

BECU Board of Directors

Bill has extensive experience in finance and investments, macroeconomics and monetary policy, risk management, housing, and public policy. He has served in business, academic and government organizations.

Bill began his career in Washington, D.C. in various government positions from 1970 – 1982. He then held senior leadership roles at Washington Mutual, helping the company become the sixth largest depository institution in the U.S.

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Jessie Woolley-Wilson

Jessie Woolley-Wilson

BECU Board of Directors

Jessie is the President and CEO of DreamBox Learning, an Intelligent Adaptive Learning™ company providing innovative, engaging, online math instruction and assessment for K-5 students.

Previously, Jessie held executive roles at LeapFrog Enterprises, collegeboard.com and Kaplan. She serves on the boards of several educational organizations and has been honored as a Puget Sound Business Journal “Woman of Influence” and on Forbes Magazine's “Impact 15” list.

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Melba Bartles

Melba Bartels

Executive Vice President and Chief Financial Officer

Melba joined BECU in May 2017, bringing 25 years of experience in the financial services industry.

Melba's career includes roles as CFO and Senior Executive Vice President at HomeStreet Bank in Seattle, as well as CFO of Auto Finance and Student Lending at JPMorgan Chase in New York. Melba holds a BA in Business and an MBA from the University of Washington.

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John Stewart

John Stewart

Executive Vice President and Chief Risk Officer

John leads the Legal, Governance, Risk, and Compliance functions at BECU.

John has nearly 20 years of experience in the financial services industry. He serves on the boards for the Open Window School and the Institute for Family Development, and is a faculty member of the University of Washington's Computational Finance and Risk Management program. John holds a PhD in Mechanical and Aerospace Engineering from Princeton University.

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Will Daugherty

Will Daugherty

BECU Board of Directors

Will is President and CEO of the Pacific Science Center in Seattle, where he serves the community with his passion for education, science, technology, math, and the natural world.

Will has substantial expertise in digital media, mobile, eCommerce, and payments technologies, previously holding executive roles at Amazon, Expedia and AT&T Wireless. Will has served on multiple boards for a variety of institutions.

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Matthew Oppenheimer

Matthew Oppenheimer

BECU Board of Directors

Matt is the co-founder and CEO of Remitly. Prior to starting Remitly, Matt was Head of Mobile and Internet Banking Initiatives for Barclays Bank Kenya and worked for the Barclays Corporate Bank in the United Kingdom.

Matt was named EY Entrepreneur of the Year 2016 in the Pacific Northwest and has been recognized as a Puget Sound Business Journal “40 Under 40” honoree for his work with Remitly. He holds a B.A. in psychology from Dartmouth College and an M.B.A. from Harvard Business School.

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John McMurray

John McMurray

BECU Board of Directors, Audit Committee Chairperson

John is the Chief Risk Officer and Chief Auditor for Russell Investments. He also teaches at the University of Washington. John has extensive experience as a board director as well as a senior financial services executive working with boards, including audit, finance, investment, and risk committees.

He holds an M.S. from MIT, an M.B.A. from the University of Texas at San Antonio and a B.S. from Trinity University. He is a Chartered Financial Analyst, a Certified Public Accountant and a Charted Global Management Accountant.

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Drew Wolff

Drew Wolff

Audit Committee

Drew is a senior finance leader with broad executive management experience. He served as the VP and CFO of International and Channel Development at Starbucks from 2017 to 2020, and previously served as Global Treasurer. Prior to that he held senior leadership roles at CameoWorks, Barclays and Washington Mutual.

Drew holds an MBA from the Stephen M. Ross School of Business at the University of Michigan and a BS in Economics from the US Naval Academy.

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Vanessa Pegueros

Vanessa Pegueros

Audit Committee

Vanessa is a Chief Information Security Officer with over 26 years of experience managing technology, security and risk teams. She has worked with startups and Fortune 500 companies around the world, and has deep experience in governance, risk management and cybersecurity.

Vanessa has a BS in Mechanical Engineering from UC Berkeley, an MBA from Stanford University and a MS in Telecommunications from University of Colorado, Boulder.

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Fumbi Chima

Fumbi Chima

Executive Vice President and Chief Information Officer

Fumbi joined BECU in 2020 and has more than 25 years of experience in both the retail and financial sectors. She leads BECU's information technology (IT) division, overseeing its technology strategy, information and IT operations.

Before joining BECU, Fumbi was Chief Information and Digital Officer at adidas in Germany and held similar roles at Walmart Asia and American Express. She currently serves on the corporate boards for Africa Prudential and Work & Co, holds advisory roles for SAP Executive Advisory and Apptio EMEA Advisory, and is on the board of Women at Risk International Foundation. Fumbi holds a BA in Politics and Philosophy from The University of Hull, U.K.

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