Question 1

What is Redwood Credit Union (RCU)?

Accepted Answer

Redwood Credit Union (RCU) is a member-owned, not-for-profit financial cooperative serving the North Bay and San Francisco areas of California. As the largest credit union in the North Bay region, RCU holds approximately $9.7 billion in assets and serves over 514,000 members across eight counties. The credit union operates 23 branch locations and offers comprehensive financial services for individuals and small businesses.

RCU ranks as the 28th largest credit union in the United States and the 5th largest in California. The institution is known for its strong community focus, competitive rates, and commitment to the credit union philosophy of "people helping people."

Question 2

When was Redwood Credit Union (RCU) founded?

Accepted Answer

Redwood Credit Union was founded on February 21, 1950, when seven employees of the County of Sonoma in California came together to form the Sonoma County Employees Credit Union (SCECU). The founding members signed the Articles of Incorporation in January 1950, establishing the credit union with a primary purpose of providing affordable bridge loans to county workers between paychecks.

Initially, the credit union operated out of a drawer in the Sonoma County Auditor's office. By 1959, it had moved to a room in the Sonoma County Administrator's office as membership grew.

In 1967, the first dedicated branch opened on Administration Drive in Santa Rosa. On September 14, 1982, the credit union changed its name from Sonoma County Employees Credit Union to Redwood Credit Union to reflect growing demand for affordable financial services throughout the Redwood Empire region. The credit union celebrated its 75th anniversary in 2025.

Question 3

Where is Redwood Credit Union (RCU) headquartered?

Accepted Answer

Redwood Credit Union is headquartered in Santa Rosa, California. The main administrative offices are located at 3033 Cleveland Avenue in Santa Rosa. This facility was completed in 2007 and achieved LEED Silver certification from the U.S. Green Building Council for its environmentally sustainable design and energy efficiency.

RCU also maintains additional administrative offices in Napa, California, with a campus that opened in 2022 on Devlin Road.

Question 4

Where does Redwood Credit Union (RCU) operate?

Accepted Answer

Redwood Credit Union operates throughout California's North Bay and Greater Bay Area regions. The credit union's field of membership includes anyone who lives, works, or owns a business in eight counties:
• Sonoma County (original service area)
• Marin County (expanded 1993)
• Napa County
• Mendocino County
• Lake County
• San Francisco County (expanded 2000)
• Solano County (expanded 2000)
• Contra Costa County (expanded 2000)

RCU operates 23 branch locations across these counties, with concentrations in Santa Rosa, San Rafael, Napa, and San Francisco. The credit union initially served only Sonoma County employees but expanded its membership eligibility over time, first to Santa Rosa residents in 1989, then to five North Bay counties in 1997, and finally to eight counties by 2000.

Question 5

What services does Redwood Credit Union (RCU) offer?

Accepted Answer

Redwood Credit Union provides a comprehensive range of financial products and services:

Deposit Accounts: Free checking accounts with debit rewards, savings accounts, money market accounts, certificates of deposit, and youth accounts.

Lending Services: Home mortgages, home equity loans and lines of credit, auto loans, personal loans, credit cards with rewards programs, and Small Business Administration (SBA) loans. RCU is an SBA Preferred Lender.

Business Services: Business checking and savings accounts, commercial loans, merchant services, and payroll services.

Digital Banking: Full-featured mobile banking app available for iOS and Android devices with biometric login, mobile check deposit with autocapture, RCUpay peer-to-peer payments, bill pay, card controls, and account alerts. The app supports both English and Spanish languages. Online banking platform introduced in 1999 with continuous upgrades.

Additional Services: Wealth management and investment services through financial planning advisors, insurance products through RCU Insurance Services (a wholly-owned subsidiary), and auto purchasing and brokerage services through RCU Auto Services. The credit union also offers free financial education programs, including the Finance & Banking Academy for high school students and Bite of Reality workshops.

ATM Access: Members have access to over 30,000 fee-free network ATMs nationwide, plus an ATM fee reimbursement program for non-network ATMs.

Question 6

What makes Redwood Credit Union (RCU) unique?

Accepted Answer

Several distinctive features set Redwood Credit Union apart from other financial institutions:

Community Relief Leadership: RCU established the Redwood Credit Union Community Fund (RCUCF) in 2015, a 501(c)(3) nonprofit organization focused on disaster relief, financial education, housing, and community wellness. Following the devastating 2017 Tubbs Fire, RCU partnered with State Senator Mike McGuire and The Press Democrat to create the North Bay Fire Relief Fund, which raised and distributed over $32 million in just four months to 8,900+ people from donations received from all 50 states and 23 countries. Since 2015, RCUCF has raised and distributed over $37 million with 100% of donations going directly to the community with no overhead costs.

Strong Local Recognition: RCU has been consistently recognized as Best Credit Union by local publications and was named to Newsweek's list of America's Best Credit Unions for 2024-2025. The credit union has also been named Best Place to Work by the North Bay Business Journal for 20 consecutive years and was recognized by Forbes as Best Small Employer in 2023.

Environmental Commitment: The credit union's headquarters achieved LEED Silver certification and demonstrates commitment to sustainable practices including recycling and energy efficiency across all locations.

Rapid Growth and Stability: RCU has experienced strong growth with asset growth of nearly 10% year-over-year, loan growth of 13.6%, and membership growth of 6.7%. The credit union maintains a 5-Star rating from BauerFinancial and a strong net worth ratio of 12.61%.

Question 7

What type of financial institution is Redwood Credit Union (RCU)?

Accepted Answer

Redwood Credit Union is a federal credit union chartered by the National Credit Union Administration (NCUA) with charter number 60793. As a federally chartered credit union, RCU operates under federal regulations and member deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the U.S. government.

As a credit union, RCU operates as a not-for-profit financial cooperative owned by its members. This structure means that any profits are returned to members in the form of lower loan rates, higher savings yields, and reduced fees rather than being distributed to outside shareholders. Each member has equal voting rights (one member, one vote) regardless of account balance, and members elect a volunteer board of directors from among the membership.

Membership is open to anyone who lives, works, or owns a business in any of the eight counties RCU serves: Sonoma, Marin, Napa, San Francisco, Mendocino, Lake, Contra Costa, and Solano counties in California.

Redwood Credit Union (RCU)

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About Redwood Credit Union (RCU) in the United States