Benson Porter, president and chief executive of Boeing Employees Credit Union in Tukwila, Washington, is stepping down after more than 10 years at the helm.
Porter joined BECU in April 2012 after a stint as president and CEO of the $15 billion-asset First Tech Federal Credit Union in San Jose, California, according to his
The $30.4 billion-asset BECU, the fourth-largest credit union in the U.S., said Porter will retire at the end of the year.
“The cooperative has grown, innovated and expanded its offerings to improve the financial health of its more than one million members and their communities. … Along the way, Benson has built a unique culture for its employees, driven by the organization's values and purpose,” Debra Somberg, chair of BECU’s board of directors, said in a press release Tuesday.
In addition to his roles with BECU and First Tech, Porter has held leadership positions with the $88 billion-asset Federal Home Loan Bank of Des Moines in Iowa and the $180 billion-asset KeyBank in Cleveland.
“The past two years have inspired self-reflection for us all and reinforced for me that the time is right for me to retire. … Over the next few months, I remain committed to our work of transforming our employee and member experiences and helping set the stage for the next chapter of BECU,” Porter said in the release.
BECU’s board has established a committee to oversee the search for Porter’s successor and will commence its search shortly.
