BECU announced that it will merge with Northern California-based SAFE Credit Union to enhance its ability to further promote members’ financial well-being and drive positive impact in the communities it serves.

“This combination creates an even stronger financial cooperative that is well-positioned to deliver value to our collective membership, accelerate investments in products and services, enhance member access and continue to evolve for the benefit of existing and future members,” said BECU President and CEO Beverly Anderson in a Nov. 18 statement.

Tukwila-based BECU, founded in 1935, has about $28.9 billion in assets, 70 locations and 1.5 million members. SAFE, founded in 1940 and based in Folsom, near Sacramento, has $4.6 billion in assets, 17 locations and 245,000 members.

With a

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