I have been with BECU for about 1 year now and I really like them. I don't have any credit products with them because they don't offer any SUB. Later this year I may consider obtaining a CC with them for the sole purpose of establishing a credit history with a credit union and as a back up if I get fed up with BofA and decide to close my oldest accounts.
Here is what I really appreciate about BECU.
Fee Schedule: "As a not-for-profit credit union we are committed to offering fewer-to-no fees."
https://www.becu.org/~/media/Files/PDF/9115.pdf
- Fee schedule is less than 1 page long
- No dormant account fee
- No inactivity fee
- Overdraft fee is only $25 and by default only towards electronic payments
- Overdraft is by default turned off for debit card and you have to opt in
- Otherwise this credit union has standard excessive transaction, research fees and wire transfer fees and that is it!
High Yield Check and Savings
Most credit unions offer high yield checking with a lot of strings, you have to do x amount of transaction, signatures, etc. BECU has flat 4% on Checking and 6% on savings which come out to be 5% on first $1,000. This is 2nd best rate to DECU in my opionion.
Mobile Banking
BECU mobile app shines with smooth auto log in. You click on the app and you are in your account. You can't say the same thing about PenFed, Lake Michigan, First Tech, Fort Knox, SDFCU, PSECU. Each of these apps is determined to throw at you a pop out window "for security reasons you have been logged out," which is completely useless and breaks automatic log in via facial recognition.
Fully functional Zelle
I have Bank of America and US Bank checking accounts. I have two personal emails and a phone number. I set up BECU with the phone number and the reminder with my two emails. I am able to instantly transfer funds between the 3 of them without any issues. Some credit unions like NFCU and First Tech also have Zelle support. But otherwise a lot of credit unions don't offer such support.
ACH Transfers
Next day transfer for free. I think only Alliant offers such service.
ATM Refunds
$6.00 ATM refund per month Alliant and Ally bank offer $15-20 per month. But some credit unions such as PenFed and First Tech don't offer such services.
BECU also refunds international ATMs. Same amount. To my knowledge this is the only credit union that does so.
No Foreign Transaction Fee:
This one is very unique. No foreign currency conversion fee and no foreign transaction fee. The fee assessed by the merchant gets refunded within 3 business days. This is on par with Charles Shwab. This maybe one of the very few institutions that does that. Chase Shapphire banking might be another one but you need 75 or 100k in their accounts. From what I read somewhere Fidelity Gold Debit card doesn't it as well but I'm not too familiar with them.
CO-OP Network
BECU is part of Co-Op network of branches. Neither PenFed or Alliant are part of such. This makes it easier to deposit cash.
Credit Cards
1.5% cash back not the best but not useless. And it is not a point system which value can change at any moment. There is also 8.4% low rate visa. Not the lowest APR out there but pretty good. Especially that my federal student loan is at 7.5%. PenFed has 2% cash back but you have to keep $500 in their account earning close to 0% interest or do DD. PSECU, requires DD to earn 2%. I think on SDFCU has flat out 2% cash back card without strings attached.
Fully Featured Bill Pay
Electronic delivery of payments. I know some credit unions will actually print out a check and mail it. BECU does everything electronically. When I was member of Alliant, I had issues with that. I am not sure if this has been updated. PenFed like BECU had electronic delivery of payments. First Tech as well. Lake Michigan actually took it one step closer and offered free direct deposit service.
Customer Service
I called multiple times about various issues. Never get an attitude and CSR is always very helpful.
LOC with no fees
Personal line of credit with fixed APR. No fees whatsoever for overdraft transfers. Really worry free checking.
