BECU Adds Covington Neighborhood Financial Center to Its Growing Portfolio
Credit union to extend financial services for South King County members later this year.
Joining the BECU Team
As a not-for-profit, BECU is a different kind of financial institution where employees work together to improve the financial health of their members and communities. People interested in working in an environment where they are encouraged to contribute, collaborate and innovate can visit BECU's careers page to learn more, search for job openings, sign up to receive email alerts or apply online.
BECU, Washington's largest community credit union, today announced it will open a new Neighborhood Financial Center in the city of Covington during the third quarter of this year. At more than 2,600 square-feet, BECU members will be able to open accounts, apply for loans and take care of financial transactions.
Located on SE 272nd Street, the Neighborhood Financial Center will serve more than 7,100 members who live in the area, and will join existing locations in Kent, Renton, Auburn, Maple Valley, Tukwila, Federal Way and Burien to better serve BECU members residing in South King County.
As with BECU's other financial centers, the Covington location will rely on a "tellerless" layout, which empowers members to access their accounts in the ways most convenient for them, including ATM, online banking and mobile banking. Member consultants will be available to provide one-on-one support for opening accounts and more complex services, such as mortgages, personal loans, business services, investments and retirement planning. The new financial center will also feature three ATMs.
Rewarding Members Through Reprice
As a member-owned financial cooperative, BECU returns its profits to its members in the form of fewer fees and better rates. Last year, BECU saved members more than $1.56 million- and more than $16.2 million over the last 14 years - through its Reprice program as a way to reward members making strides towards financial health. Through the program, BECU performs an annual review of the qualified loan products and if the credit score improved sufficiently, the member made timely payments and the account is in good standing, they may earn a better rate (if they aren't already receiving BECU's lowest rate).
Focus on Financial Education
BECU puts its dedication to financial health in action by empowering students in its communities with financial education through its Annual Day of Service. In October, the credit union closed its doors for a one-day event so that nearly 2,000 BECU employees could host financial reality fairs for more than 8,000 students at 16 high schools across Washington, four of which were located in South King County.