RCU Company Profile

Redwood Credit Union (RCU) is a not-for-profit financial cooperative, providing exceptional service and value in financial products and services to help our Member-Owners achieve their financial goals and dreams. Established in 1950, today RCU is among the largest credit unions in the United States, serving consumers and small businesses in 7 North Bay counties and San Francisco with a full array of trusted financial services.

Products and Services

RCU provides a convenient, one-stop financial services experience, offering a full range of products and services including free checking, deposit accounts, investment services, personal and home loans, business services and loans, insurance and a full-service auto-buying center for new and used vehicles and aftermarket products. Redwood Credit Union offers 15 North Bay locations, including 2 San Francisco branches, fee-free access to more than 28,000 CO-OP network ATMs nationwide and convenient online services including free online banking, bill pay and eStatements.

History

Redwood Credit Union was founded in 1950 by seven County of Sonoma employees. Originally formed as Sonoma County Employees’ Credit Union, the name was later changed to Redwood Credit Union to reflect the growing demand throughout the North Bay for affordable financial services from the Credit Union. In recent years, RCU also formed a wholly-owned subsidiary to provide value-driven insurance services and a full-service auto center. Though Redwood Credit Union has grown significantly over the years to become among the largest in the US, we remain committed to our roots of service to Members and the credit union philosophy of “people helping people.”

Read about our Mission, Vision and Values.

Key Statistics as of January 2010

Redwood Credit Union:

• serves nearly 150,000 Members.
• is currently $1.7 billion in assets.
• has served Members since 1950.
• employs a staff of approximately 350.
• has 15 North Bay Branches from San Francisco to Ukiah and Napa.
• Administrative Offices are in Santa Rosa, California.
• is currently 72nd largest Credit Union in the United States of over 7,800 Credit Unions nationwide, and 16th largest in California.
• can serve consumers or small businesses in 8 North Bay counties of Sonoma, Marin, Mendocino, Lake, Napa, Contra Costa, Solano and San Francisco.

RCU’s Structure

• 9 volunteer Board members who are also Members of Redwood Credit Union and are elected by the membership
• 5 Supervisory Committee members who are also Members of Redwood Credit Union and are elected by the membership perform an audit function to ensure RCU is safe and sound
• Brett Martinez is President & CEO of Redwood Credit Union
• RCU’s wholly-owned subsidiary, RCU Services Group, provides insurance services (RCU Insurance Services) and auto purchasing and locating services and aftermarket products (RCU Auto Services. There is a volunteer Board of 5 for RCU Services Group.
• Redwood Credit Union has a staff of approximately 350 employees.

Field of Membership

Anyone who lives, works or owns a business in the 8 greater North Bay counties of Sonoma, Marin, San Francisco, Mendocino, Lake, Napa, Solano and Contra Costa can join and benefit.

About Credit Unions

• A credit union is a cooperative financial institution, owned and controlled by the people who use its services.
• Credit unions are not-for-profit, and exist to provide a safe, convenient place for Members to benefit from a complete line of valued and trusted financial services.
• Earnings realized by the credit union are returned to Members in the form of lower loan rates, higher savings yields, to offset fees, and to expand services.
• Unlike a bank or other for-profit financial institution, credit union customers are called “Members” because they each are equal owners of the credit union.
• Credit unions serve a “field of membership” which is a group that shares something in common, such as where they work or live. Redwood Credit Union has a community charter for our field of membership, which means we can serve consumers or small businesses living or operating in 8 North Bay, California counties.
• Credit unions, like other financial institutions, are closely regulated.
• Deposits by Members are federally insured to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), an agency of the US federal government.