Two of the three branches here that Boeing Employees Credit Union announced plans for earlier this year are scheduled to open next month. 

The organization still is looking for a location for a third branch. 

The new branches will be the credit union’s first retail presence in the Spokane market, though it has had an operation center in Spokane Valley since 2005.

Tom Berquist, BECU’s senior vice president of marketing and cooperative affairs, says BECU’s first Spokane-area branches will be located at 916 N. Division, in the Cataldo Square Shopping Center, and at 615 N. Sullivan, in Spokane Valley. 

The Journal had reported in January that the credit union was researching three possible branch locations available for lease—one near Gonzaga University, one in Spokane Valley, and another in north Spokane.

Berquist says the credit union continues to search for leasable space for the third Spokane-area branch. He says the credit union anticipates hiring up to 25 new employees across the three branches. Each location will have a manager and member consultants who can assist with financial decisions and services.

The new BECU branches here will be what are called cashless branches, with members still using ATMs, online, or mobile banking to complete transactions rather than interacting with a teller. They’ll be able to use the new branches to establish accounts, apply for loans, and perform financial transactions, and each branch will provide free ATM, online, and telephone banking services.

The credit union chose to expand into Spokane because of its potential for growth and reputation as a welcoming market for credit unions, Berquist says. 

“We already had an established employee base here at our operations center in Spokane Valley,” he says. “The decision came from a combination of their feedback and that of our member base here.” 

Berquist says BECU has about 5,000 members in the Spokane area, and its Spokane Valley operations center employs more than 100 people. 

The operations center provides assistance services to BECU members, as well as hosting the credit union’s backup systems. It also could serve as additional location for employees in the event of a major disaster affecting the credit union’s Western Washington locations. 

To help manage the new locations, BECU has hired long-time Spokane resident Steve Hauschild as market leader and director of business lending in Spokane and across Eastern Washington. 

Hauschild says he sees the new branches as an opportunity to provide a bridge between the eastern and western sides of the state.

 “We have a large member base here and felt familiar and confident enough with the market to make the move to this area,” he says. “These new locations will help us to better serve our members here as well as begin to positively impact the community they live in.” 

One example of BECU’s community engagement is its recent partnership with Spokane Neighborhood Action Partners (SNAP), a nonprofit community action agency headquartered at 3102 W. Fort George Wright Drive. 

Last month the credit union made a $62,000 donation to support SNAP’s financial stability counseling program, which was experiencing a funding shortfall.  

Craig Howard, SNAP’s community relations manager, says, “We reached out to BECU, and they provided an enormous help.  It was wonderful to have the support of a fellow nonprofit that shares many of our values.”

He says the credit union will announce another contribution this fall that will benefit SNAP’s business development micro-enterprise program.

Berquist says the credit union continues to look for opportunities to support SNAP’s small business efforts, by providing the organization’s programs with additional financial tools and models to help their clients better manage financial goals. 

“We’re happy to continue working with SNAP, as well as other organizations suggested by our area membership,” he says. 

Based in Tukwila, BECU employs about 1,400 people throughout its 40 financial centers in the Puget Sound area. Membership in the credit union is open to all Washington state residents.

The credit union saw a 4.9 percent increase in membership over the 12-month period ending June 30, adding almost 46,000 members for a total of 971,000 members. Meanwhile, its total loans grew by almost 13 percent over that period, coming in at $9.8 billion as of June 30, compared with $8.7 billion a year earlier. 

The credit union also continued to experience growth in deposits and total assets, with deposits up 10.9 percent and assets growing by 11.4 percent, compared to June of last year.

Last calendar year, BECU’s net income increased by a little over 8 percent, rising to $195 million from $180 million in 2014. In the second quarter of this year.