Seattle set a new benchmark for credit union banking last year, with 35 percent of households relying on credit unions for their financial well-being, according to a Seattle Times analysis of Nielsen data.
The analysis found that approximately 557,000 Seattle-area households say a credit union is their primary financial institution, the highest share recorded by Nielsen since it began tracking the data in 2004.
And NCBA member BECU—founded in 1935 by a group of Boeing employees—is leading the charge. BECU is not only Washington’s largest credit; it’s also the top bank among Seattle-area households, with around 20 percent using it as their primary bank.
“When people choose a credit union, they’re choosing a different approach to banking—one rooted in service, community and member ownership,” BECU said in a LinkedIn post. “We’re grateful to be part of a strong credit union community and to the members who make this story possible.”
While Seattle set the record for overall market penetration, the analysis found neighboring Portland posted the largest gain in credit union membership over the past 15 years.