BuddyPress.org

Solved.

1. I had to copy the buddypress/bp-themes/members directory to my 3rd party theme directory
2. rename <theme>/members/index.php to <theme>/members/members-index.php.
3. updated <theme>/page.php to the following:

   <?php while (have_posts()) {
     the_post(); 
     if(is_cart() || is_checkout() || is_account_page() || is_wc_endpoint_url()) {
       get_template_part('templates/page', 'woocommerce'); 
     } elseif( bp_is_members_directory()) {
       get_template_part('members/members', 'index');
     }
     get_template_part('modules/module', 'loop'); 
   }