BECU security agreement UCC filing - debtor name format causing rejections

This is exactly right. Had same issue with a different credit union in Oregon last year. The security agreement said one thing but their Articles of Incorporation had been amended. Always check current corporate records first.

Wait so if the security agreement says 'Boeing Employees Credit Union' but we file as 'BECU' won't that create enforceability issues? My attorney is going to flip if the collateral docs don't match the UCC exactly.

How does that tool work exactly? Do you just upload the PDFs and it tells you if names match?

Yeah pretty much. Upload your security agreement, then your UCC draft, and it cross-references everything - debtor names, addresses, even checks if your collateral descriptions are consistent. Takes like 30 seconds instead of manually comparing everything.

That sounds incredibly useful right now. Going to check this out before attempting another filing.

I feel your pain but unfortunately that's just how UCC works. The debtor name has to be EXACTLY as it appears in the organizing documents. No variations allowed.

I get that but come on... 'BECU' vs 'Boeing Employees Credit Union' is a huge difference that should have clearer guidance somewhere.

Good point about the address too. I was using the branch where we signed the security agreement but their registered office is probably different.

Yes! Corporate address vs branch address is another common rejection reason. Always use the registered office address from state corporate records.

This is reassuring. Was worried we'd have to amend the entire security agreement just to get the UCC filed correctly.

Nope, you're fine. The entity is the same, just the name presentation changed. Happens all the time with corporate rebranding.

OK definitely checking out this Certana thing. How accurate is it compared to manually looking everything up?

Way more accurate because it's pulling from current databases. Plus it checks stuff you might forget like ZIP+4 codes and proper punctuation in entity names.

Oh great, didn't know multiple rejections could be an issue. Already at three rejections so really need to get this right.

Three rejections isn't terrible but definitely verify everything before the next attempt. Use the state database search and double-check every field.

Manufacturing equipment, mostly stationary. Nothing mobile or that would require fixture filing.

Good, that keeps it simple. Just focus on getting the debtor name right and you should be all set.

Awesome! Always satisfying when these filing issues get resolved. Hope it goes through clean this time.

Great to hear Certana helped you avoid more rejections. That tool has saved me so much time and frustration with UCC filings.

Will update once I get confirmation from SOS portal. Fingers crossed!

Good point. Though for UCC purposes you want the legal entity name, not the DBA. But worth checking both to understand the full picture.

Exactly. DBA won't work for UCC filing but it helps explain why loan documents might show different name variations.

You're absolutely on the right track! I've dealt with this exact scenario multiple times. The key is that the UCC filing must use the current legal entity name from state records, not what's written in older loan documents. As for lender pushback - I usually explain it this way: the security agreement creates the security interest, but the UCC filing is just the public notice system. As long as it's obviously the same entity (which it is with credit union rebrandings), there's no enforceability issue. You might want to get a legal opinion letter if your loan officer remains concerned, but this is pretty standard practice in commercial lending.