Enter your email address here to receive announcements about our Technical Assistance and Training opportunities, as well as news about Impact Capital.

• About Us |

  • Our Community Impact
  • Board of Directors
  • Careers
    • Workplace Culture
    • Jobs
  • Our Donors
  • Annual Report
  • Contact Us

• Lending |

  • About Impact Capital Lending
  • Loan Products
  • Loan Application

• Community Building |

  • Vibrant Communities
  • Affordable Housing Preservation Services
  • Knowledge Bank

• Training |

• Donate
  

  • Ways to Give
  • Donor Reports
  • Success Stories

DONOR PROFILE: BECU

The partnership that began in 2005 between Impact Capital and BECU is a natural one: both organizations are committed making communities in the region the best possible places to live.

To that end, BECU has pledged $5.5 million over a 10-year period in the form of grants and very low interest loans. Impact Capital puts BECU’s money to work in the form of loans for community development and affordable housing projects throughout the Puget Sound Region. In addition, BECU's commitment attracts funding from other lenders and investors.

The roots of the relationship between the two organizations go back to 2003, when BECU was transitioning from being a credit union exclusively for employees of The Boeing Company and their families, to a credit union that was now open to all resident’s in Washington State.

"With this change, we were deciding how we could best address the needs of the communities where our members live," BECU Executive Vice President Joe Brancucci explains. "We started by finding out who was already having an impact in the communities we served."

As BECU researched the regional community development lending field, the organization they noticed was Impact Capital.

"Impact Capital kept showing up as a major participant," Brancucci recalls. "We saw that they had the expertise to make decisions about how institutions could do the most for communities. And we were very comfortable with their approach."

Today, BECU manages $8.7 billion in assets for more than 600,000 members. The credit union is deeply concerned with the financial well-being of their members and the communities where they live and own property. As a result, BECU takes an approach to fostering home ownership and financial literacy that extends well beyond its membership.

"We're built on being an advocate for our members and the communities we serve," Brancucci says.

The low-interest loans BECU makes available to Puget Sound Region communities through Impact Capital's lending program is only one aspect of its support for Impact Capital. The credit union has also provided a $500,000, 10-year grant for Impact Capital operating costs, and BECU has a seat on the Impact Capital Board of Directors.

In addition, this year BECU is sponsoring the Impact Capital Breakfast Series created for borrowers, investors, and others in the community housing and development field. The first event in the series, with a panel on federal policy topics including the American Recovery and Reinvestment Act and AmeriCorps, provided an opportunity for regional community development professionals to talk directly with policymakers from Washington, D.C.

Brancucci currently chairs the Board's Fund Development Committee, and describes this as an exciting and challenging period in Impact Capital's growth.

"Impact Capital is in a period of evolution," Brancucci says. "Historically, Impact Capital has partnered with grantors and lenders. Now we're also talking with people who have a vested interest in community, expanding our network to create even more vibrant communities."