Boeing Employees Credit Union (BECU)
Boeing Employees Credit Union is the fourth largest credit union in the United States in terms of assets (roughly $8.6 billion) and the sixth largest in terms of membership (roughly 600,000 members). They are a member-owned not-for-profit organization serving citizens of Washington state.
Brief History
In 1935, the country was still struggling under the weight of a collapsed economy when a group of Boeing workers came together to form a new kind of financial institution. Inspired by a Reader’s Digest article on the benefits of credit unions, they organized the Fellowship Credit Union to provide a banking alternative for themselves and their fellow Boeing workers. Each of the 18 original founders contributed 50¢ accounting for total beginning assets of $9.
Its deposit accounts offer dividends with interest rates that allow your savings to grow over time. You can open a certificate of deposit account ranging from 3 months to 5 years and earn the following interest rates:
- 3 month Certificate earns you between 0.75% APY and 0.95% APY depending on deposit amount.
- 6 month Certificate earns you between 1.11% APY and 1.31% APY depending on deposit amount.
- 1 Year Certificate earns you between 1.41% APY and 1.61% APY depending on deposit amount.
- 18 month Certificate earns you between 1.56% APY and 1.76% APY depending on deposit amount.
- 2 Years Certificate earns you between 1.61% APY and 1.82% APY depending on deposit amount.
- 30 month Certificate earns you between 1.61% APY and 1.81% APY depending on deposit amount.
- 3 Years Certificate earns you between 1.87% APY and 2.07% APY depending on deposit amount.
- 4 Years Certificate earns you between 2.02% APY and 2.22% APY depending on deposit amount.
- 5 Years Certificate earns you between 2.32% APY and 2.53% APY depending on deposit amount.
Features:
@ The above rates have been noted as on 20 Novemeber, 2009.
@ Penalties apply for early withdrawals.
@ Your funds are insured by NCUA up to $250,000.
You can apply for BECU membership if you live, work, worship, or attend school in a Washington state school district. Also eligible to apply are past or present employees (and family members of employees) of The Boeing Company, Boeing subsidiaries, and The Museum of Flight. You may also apply for business membership if you have an active Washington State Business License.
Contact Info:
Phone: 1-800-233-2328
Website: www.becu.org
Address: BECU P.O. Box 97050 Seattle, Washington 98124-9750
Related: BECU Mortgage Rates and Review
