BECU or Boeing Employees Credit Union is a union that deals with monetary transfers and deposits. It is similar to that of a commercial bank but is actually under a non-profit financial organization that is formed voluntarily to help by fulfilling the country’s economical, social and cultural needs. This is a sole organization that only serves the members of the Boeing Company. This union was founded in 1935 by 18 employees of the Boeing Company. The headquarters of this credit union is situated in Tukwila, Washington, United States of America. Though BECU is a private company, the company follows all the rules and regulations presented by the Washington state. Let us know about that the Where I Can Deposit Cash For Becu?
What is a credit union?
A credit union cooperative is an association or an organization that deals with finance. They have an owner who makes the rules and regulations and the employees are bound to follow them. Their role is completely similar to that of a governmental co-operative but here the credit union is a private one where it is run by a group of members who has the same motive of providing welfare to the society. Here the members of a credit union can get and use the credit cards, write check deposits and withdraw money using them, open savings accounts and take loans.
Role of BECU
- Their objective towards their members is to make you earn more and not to lose your money through scams or other forms of illegal money laundering.
- They provide various products like- savings accounts, checkbooks, loans, mortgages, credit cards, and an online banking facility.
How to deposit cash in BECU
BECU or Boeing Employees Credit Union has more than 50 ATM centers in and around Puget Sound North and South, Spokane, Seattle, Kitsap County, and Charleston County in South Carolina. In these areas, the members can deposit and withdraw cash.
The members have to visit these ATMs to do all sorts of transactions. In these ATMs, multiple cheques can be deposited at once. BECU too has its bank tellers which work similarly to their ATMs but are specifically slower and are located only in the financial centers of Tukwila and Everett.
The members can easily deposit money through
- Making deposits through the use of a mobile app by installing the BECU mobile banking app on Android or iOS devices. In this app, you need to click the photo of the cheque on your device so the money can be swiftly deposited into your account.
- CO-OP Network ATMs are those machines specially created by BECU in different parts of the Washington state so that they can easily deposit money whether through cheque or cash and withdraw cash without paying any surcharge fee for any transactions.
- Partner credit unions are made with the collaboration of BECU along with other credit unions creating a network which is somewhat mentioned as shared branching in which a single teller machine can be used by various other credit union members if only they collaborate with it. Your membership remains with BECU you can access other teller machines nationwide if they have collaborated with BECU. The whole process can be done without paying any fees for it.
Benefits provided by BECU
- No fees are charged when you have a minimum balance in your account.
- No ATM charges.
- When you go to any foreign country and do some transaction then you don’t have to pay any extra fees for it.
- There is no monthly or yearly maintenance for the account created.
- No fees are charged while you are checking your account transaction through online mode.
- No fees are charged while transaction through the online app and while paying your bills.
- Free FICO scores – which tell the member about the amount left for the person to pay depending on the amount present in your account while having a mortgage or a loan or if you are granted a credit card.
- BECU provides 50% APY (Annual Percentage Yields) on your savings account only if you are a member of the Boeing Company.
- BECU provides 50% APY (Annual Percentage Yields) on your checking account till $ 500 only if you are a member of the Boeing Company.
- Very low-interest rates on taking mortgage loans.
- BECU provides discounts on buying tickets for sports events when you purchase with the help of your credit card.
- BECU provides automobile loans for buying new or old cars at a low rate of interest.
- They also provide loans if you buy boats, motorcycles, and different types of campervans, coach cars, or trucks.
Before depositing the money into your account first let us discuss how to create an account in the BECU credit union
- Choose between the type of account you want to open whether a savings account or both a saving and checking account.
- This process should be done online as BECU does not have any branches.
Eligibility to open a BECU account
- To open an account in the BECU credit union the person should be a resident of the state of Washington and is also a school student, or has his workplace in this very state.
- Residents of two counties who are eligible to open their accounts in BECU are – Oregon and Idaho both situated in America.
- Members of the partners of BECU which are the University of Washington Alumni Association and Washington State University Alumni Association are eligible to open their accounts in BECU.
To conclude, BECU is a responsible non-profit financial organization that thinks only about the welfare of its members and how they can save themselves from getting scammed and save more. Their method of bringing cashless transactions into society has become a plus point unlike the method used by the banks where they take fees for every single online transaction and also yearly fees for your credit card, and checkbook and have to pay a high rate of interest in case of any loans. So, we can say that the BECU credit union is far more beneficial for the people of Washington than any other national bank.
