Our Response to COVID-19
Last updated December 28, 2020
The new COVID-19 relief bill was signed into law on 12/27/2020 and provides eligible recipients up to $600.
Members with direct deposit already set up with the IRS will likely receive funds in early January. Mailed paper checks, or possibly debit payments will be sent out afterwards.
As concerns around COVID-19 continue, BECU is committed to helping our Members. Find everything you need to know, including hours changes, financial assistance, bank at home options, and steps taken to keep members and employees safe.
We're committed to serving members while keeping employees safe, and supporting the communities where we live and work. Additionally, we're redeploying staff as needed to different areas throughout the credit union, such as our Contact Center and Member Assistance teams, to better serve our members during this difficult time.
In response to the situation so far, we've taken steps to help members that include the following:
- Supported business members with financial assistance through the SBA Paycheck Protection Program
- Released collateral on savings secured loans
- Temporarily suspending excess transaction fees ** (Regulation D) until further notice.
- Offering payment deferral options on consumer loans and credit cards
- Offering up to 6 months' suspension (forbearance) of mortgage payments
- Deferring student loan payments for up to 90 days
- Suspending foreclosures
- Modifying business loans, including skip payment for credit cards, vehicle loans and unsecured term loans and lines of credit
- Offering relief for commercial real estate loans
- Partnering with GreenPath Financial Wellness to provide members access to free one-on-one financial counseling
To date, BECU has pledged over $500,000 to multiple COVID-19 response funds. These include:
- College and University Foundations across Washington State
- Community Foundation of Snohomish County
- Greater Tacoma Community Foundation
- Innovia (Spokane Community Foundation)
- Renton Regional Community Foundation
- Seattle Foundation
- Trident United Way, Charleston, SC
- Tukwila Children's Fund
- Whatcom County Community Foundation
We have also implemented a 2:1 employee donation gift match for the month of May.
How to Contact Us
We're here to answer your questions online or over the phone. Need to talk to us in person? Please consider scheduling an appointment prior to your visit
We take our role as your credit union seriously. We've identified loan relief and payment deferral options for those affected by the COVID-19 crisis.
Relief Options Available:
- Short-term loan modifications or deferments
- Student loan deferment
- Mortgage payment relief
- Business loan modifications
- Commercial real estate loan relief
We continue to follow guidance from the Centers for Disease Control (CDC), as well as federal, state and local agencies. Protecting the community and our team members however we can is critical.
BECU will be limiting the number of people in our centers to help maintain safe conditions for members and staff. Facemasks are required to be worn indoors in accordance with the statewide order.
If you need to visit one of our open locations, rest assured we're taking significant precautions to help keep employees and members safe.
- All BECU employees and visitors are required to wear a mask while inside any BECU location. Learn more about the statewide mask mandate.
- Regularly disinfecting areas where transactions occur
- Acrylic shields in front of team members and some ATMs
- 6 feet social distancing stickers at most locations
- Adjustment of branch hours and services, if needed
Bank at Home
Safely bank at home using our many online and mobile banking features. Conduct everyday banking transactions no matter where you are simply by logging on to becu.org or downloading our mobile app.
- Deposit a check from your phone - Snap a picture of your check using the BECU mobile app
- Pay bills - Use the BECU mobile app and BECU.org to pay your bills and track payments
- Transfer Funds - Transfer funds between accounts
- Pay other people - Use Zelle® to send-and-receive money from friends, family and other people you know and trust
- See your account balances and transactions - Use the BECU mobile app and BECU.org to view account balances and transactions
- Set up alerts - Protect your accounts by signing up on becu.org or the BECU mobile app to receive timely alerts by text message, email and push notifications to help keep you informed of your recent activity
- Learn more about government stimulus payments - See our Stimulus Tips and FAQs
- Travel changes, cancellations and billing disputes - We recommend you contact your travel provider first, as many airlines and hotels are being flexible during this time. If your trip has been canceled and your travel provider has not correctly applied their change/cancellation policy, you can also fill out a billing dispute form (credit card or debit card) and submit electronically
* For late fees on student loans and mortgage, refer to the individual products for assistance information. For business accounts, call 800-233-2328, ext. 5140.
** Certain transaction methods, which include online and mobile app transfers from any savings or money market account, are typically limited to 6 per calendar month. Effective April 24, 2020, excess transaction (Regulation D) fees and transfer limitations are temporarily suspended. Account fees are subject to change without notice. Please refer to the Consumer Account Disclosure and Regulation D Explanation for more details.