We don't just offer deposit accounts and financial services. We invest in the communities where our members live, work and play. We invest in community economic well-being through strategic philanthropic efforts, which pay dividends for generations.
Financial Education
While BECU members can take advantage of expanded financial fitness options, our financial health resources and education programs also serve the wider community. More than 13,100 people used our financial health programs, including seminars, webinars and other educational materials, to slash debt, build credit and learn about first-time homeownership:
Nearly 6,700 high school students learned about basic money-management skills and strategies through a BECU seminar or webinar, Financial Reality Fair, or EVERFI’s digital education platform.
Another 1,700 curious folks attended free, online financial education and wealth management seminars and webinars open to members and the general public. BECU employees, BECU Investment Services, and advisors such as Russell Investments, BlackRock, and Hartford Funds offered presentations. Sample 2021 topics included:
- 10 Tips to Reduce Debt
- Protecting Yourself Against Fraud
- Budgeting Tips, Tricks and Tools
- Building Credit
- First-Time Home Buyer
- How to Read Your Credit Report
I really enjoyed the Financial Reality Fair and found the game to be fun and interactive, even online. The speaker did a great job of explaining everything and keeping us all engaged.” —BECU Student Member
Corporate Giving
In 2021, we demonstrated our commitment to financial well-being through education, programs and $5.8 million of funding to community partners:
In 2021, our newly promoted BECU Philanthropy Director and BECU Foundation Executive Director Gloria Dixon led work to realign our philanthropy strategy with financial well-being, supporting untapped communities and expanding the BECU Foundation's focus. BECU will kick off this new nonprofit partner strategy in 2022.
Here's how 2021's dollars transformed BECU's intent into real-world impact.
We Support Financial Health
To create financially healthy communities, we offer money-wise education and training, workforce and entrepreneur development, and safe, affordable financial service access, among other strategies across all of the communities we serve. Shining examples of the various supports:
Every $1 invested in a Big Brothers Big Sisters program returns $18 to society. South Carolina's Big Brothers Big Sisters of Low Country creates and supports one-to-one, expertly matched mentoring relationships. A Big Sister or Big Brother helps youth ages 7-21 discover innate potential and overcome barriers like poverty, lack of opportunity, isolation and negative childhood experiences. In addition, the organization's Youth Postsecondary Education and Workforce Development prep youth for future earnings and financial success.
Over the summer of 2021, locals and visitors flocked to downtown Bellingham for live music and DJs, yoga and tango classes, screen-printing and mural painting—and we're sad if you missed Disco Day. In conjunction with the Downtown Bellingham Partnership, BECU contributed to Summer Activation Grants to jazz up the downtown streets of Seattle's northern neighbor. Downtown businesses and organizations could request $500 micro-grants to host local talent to attract and entertain passersby.
Equitable access to job training and workforce experiences provides stability for individuals, families and entire communities. In Seattle, the nonprofit FareStart guides adults and youth—most impacted by poverty, racial and societal inequities, food insecurity and barriers to employment—with job skills, support services and employment opportunities in the culinary industry and beyond. Last year, all participants in FareStart’s comprehensive job training programs received financial literacy training made possible by BECU’s support.
With SNAP (Spokane Neighborhood Action Partners), BECU helps serve low-income entrepreneurs and households in Spokane. SNAP offers financial education efforts to the community, and the Women’s Business Center provides one-on-one business consulting, credit building and business financing. In 2021, BECU also contributed flexible funds to meet SNAP's emergent and existing organizational needs.
In Spokane Valley, Andrea turned to SNAP's support when COVID-19 hit, and her brick-and-mortar floral business closed for six months. Andrea received business coaching, e-commerce and digital marketing and now hires and mentors stay-at-home moms and minors. SNAP continues to help Andrea with new business ideas and supports her as she navigates the pandemic challenges.
Since establishing a vibrant presence in the Spokane market, BECU has been an amazing SNAP partner...These organizational resilience funds helped SNAP and the clients we serve weather some turbulent economic times”—Julie Honekamp, CEO SNAP
We Support Racial Equity
Our internal committees worked to fold equity and inclusion into everything we do this year. Our new community equity commitment prioritizes racial equity-focused investments to address financial and racial inequities in our communities.
In 2021, we developed initiatives to advance our equity commitments for employees, members, and community and embed them structurally in our organization.
Black Community Development Project (BCDP)
This is the second year of our five-year $5 million commitment to support nonprofit partnerships that improve the Black community's overall emotional, physical, and financial health and well-being. A Black leader heads each nonprofit and employs a multicultural staff representative of the communities served. Here are this year’s BCDP recipients:
Community impact grants (invitation-only). Two years of funding ($72,500 per year) toward reducing barriers and creating opportunities to improve Black community financial health. These approaches include education/workforce development, encouraging entrepreneurship and homeownership, credit repair and wealth building, or supporting unbanked or underbanked communities:
Nonprofit capacity-building donations. Seven member-nominated grassroots nonprofits received $150,000 during the People Helping People Awards. The 2021 recipients in each category include:
Corporate social and credit union-inspired projects. In 2021, our Black Future Co-op Fund partnered with the Seattle Foundation, giving $200,000 to a statewide collective effort. This effort aims to eradicate poverty, support criminal justice reform, build generational wealth, preserve Black culture and celebrate the Washington Black community's incredible resilience. For the second year in a row, we also granted $100,000 to the African-American Credit Union Coalition (AACUC), a nonprofit organization comprised of African-American professionals, volunteers and members working to increase diversity within the credit union community.
BECU made it possible for us to significantly expand our DEI programming. Plus, your generous support also allowed us to create a significant footprint in the credit union movement as we respond as a nation on multiple fronts: the COVID-19 health crisis, the resulting economic crisis, and the call for racial justice and healing.”—Renee Sattiewhite, CEO African-American Credit Union Coalition
Black Business. For the 2021-2022 school year, we announced two new partnerships with Eastern Washington University in Cheney, Washington. Our new BECU Black Entrepreneur Opportunity Fellows Program awards $15,000 to one student to attend conferences, fund individual and group projects and receive scholarship support. A $15,000/year, four-year commitment to the new BECU Student Business Development Fund accelerates campus-wide student businesses.
DEI Donations
Our Employee Resource Groups inspired giving $110,000 to organizations supporting Black, Indigenous and People of Color (BIPOC) communities, including:
$5,000: The Seattle Chinatown International District Preservation and Development Authority (SCIDpda) | Interim CDA (Chinatown District Association) | El Centro de la Raza | Casa Latina
$10,000: API Chaya: a survivor-led organization focused on providing free, confidential services to survivors of sexual violence, human trafficking, and domestic violence from Pacific Islander, Native Hawaiian, Asian and South Asian communities.
$30,000: Asia Pacific Cultural Center: APCC represents 47 Asian identified countries and cultures, honoring their distinct artistry, business protocols, history and social practices. Programs and services include summer camps, cooking classes, cultural days and celebrations, an artist gallery and receptions, youth mentoring and tutoring, ESL classes and more.
We gave $50,000 to the Puget Sound division of the national nonprofit network Emerald Cities Collaborative, which develops clean energy, climate resilience, green infrastructure and other sustainable projects. Emerald Cities creates infrastructures for family-supporting wages and career paths for low-income communities of color, women, veterans and disabled individuals. In addition, the organization promotes contracting opportunities for women, BIPOC and other disadvantaged businesses.
We Support Member Giving
Our 2021 People Helping People Awards (PHPA) ceremony may have been virtual, but BECU’s annual awards program created a real-world impact. BECU members nominated more than 650 organizations in the Puget Sound region and Spokane, Washington, Oregon and Charleston, South Carolina. Since 2013, BECU's PHPA program has donated $3 million to 120 local nonprofits. We're excited to give even more. In 2021, we increased our People's Choice Winner award from $40,000 to $50,000.
John Vogan was selected for his service on The QLAW Foundation of Washington board of directors.
Community popular vote selected Bonney Lake Food Bank.
BECU employees chose Project Girl Mentoring by popular vote.
Past PHPA recipients voted to award Camp Agape Northwest this honor.
Community Benefit Winners were all PHPA Awards finalists nominated by you, our members.
In addition, all 2020 and 2021 award recipients receive a two-year grant of $2,500 following their initial award.
For previous award recipients participating in a joint multi-organization project:
- City Fruit and Young Women Empowered: Educating young women on environmental stewardship and food justice through workshops focused on fruit tree care and Seattle’s local food system.
- Everyone for Veterans and The Beyond Project: Empowering the lives of combat veterans and their families with access to haircuts, dental services, mental health support, a professional headshot and resume workshops.
- Open Doors for Multicultural Families and Benefits Law Center: Offering case management and legal support to lower barriers to physical and mental healthcare, Social Security, civil legal matters, housing and more.
Camp Agape Northwest is such a deserving and wonderful organization. Thank you, BECU!” —Priscilla R., BECU Member
BECU Foundation
In addition to providing either $2,500 or $3,500 scholarships to 25 students and renewed scholarships for 67 recipients, the Momentum Grants created the 2020 partnership between the BECU Foundation and the Mastercard Center for Inclusive Growth. These $50,000 grants help nonprofits and micro-to-midsized businesses recover from the COVID-19 pandemic and expand offerings. In 2021, all eight Momentum Grant Awardees received a second year of funding. Here are a few examples of nonprofit and small-biz fund use:
- Business Impact NW: Offers loans and technical assistance to small business owners, focusing on low-to-moderate income individuals, people of color, women, veterans, LGBTQ+ and immigrants
- WA Small Business Development Center (SBDC): Increases capacity and builds momentum for access to capital among underserved communities, including low-to-moderate income individuals (LMI), BIPOC, women-owned and veteran-owned entrepreneurs.
- Ventures: Loans to small, start-up businesses in the Seattle area, with an estimated 94% percent to diverse small businesses emphasizing Black and Latinx communities.
- Community Credit Lab: Lending at 0% interest to support people facing discrimination to access affordable resources, achieve their goals and participate in an inclusive, equitable economic recovery in the wake of COVID-19.
- NW Innovation Resource Center: Offers resources and technical assistance for small businesses and start-ups needing to pivot strategy and reinvent in the wake of COVID-19, often utilizing dislocated workforce.
Nurtured Sustainability
Our community commitments aren't just financial in nature but are nature-based too. Since 2013, our Annual Report to Members' financial highlights section includes our greenhouse gas emissions for the current and previous years. We’ve improved our operations, reduced waste, and started addressing our carbon footprint while incorporating sustainable solutions, environmental justice and partnerships.
Here's what we accomplished in 2021:
Our BECU Carbon Footprint Report shows that we reduced our carbon footprint by three tons, thanks to employees staying home, using less electricity at headquarters and cutting business travel. Electricity consumption and staff commuting make up 95% of our total carbon footprint in an average year.
As we prepare to return to work with a hybrid model, we look forward to discovering and implementing future carbon savings strategies. This includes our EV charging stations for electric vehicles, Orca cards to encourage employee use of mass transportation and the Last Mile Lyft Program to help employees get to work from any mass transit locations under three miles away.
BECU supports local forest restoration projects through Forterra’s Evergreen Carbon Capture Program. With our contributions, over 530 trees were planted across Washington state, offsetting 2,670 tons of carbon over their lifetimes.
Our employees got their hands dirty with the annual Earth Day Volunteer Project at the Duwamish Hill Preserve in Tukwila. We removed harmful, invasive weeds threatening the health of this urban forest, an undeveloped parcel of land on the beautiful Duwamish River.
Our annual BECU Shred & E-Cycle Event encouraged members to bring sensitive documents for contactless shredding and old TVs, CPUs, laptops and cellphones for e-cycling. While on-site, members made cash or nonperishable food donations destined for local food banks. Bike Works collected used bicycles for the Bikes-for-All! program, providing free rebuilt bicycles and helmets to Southeast Seattle youth, adults and families facing barriers.
Continue to the next section:
Read other sections of our 2021 Annual Report: