6. Higher Service Ratings
On average, credit unions rank 20% higher than national banks
in customer service surveys. Among 95 U.S. credit unions, Redwood Credit Union ranked #1 in Member satisfaction
in a recent industry survey.
Credit unions are among the highest- rated services we’ve ever evaluated, with 96 percent of members highly satisfied.
3. FOR PEOPLE, NOT FOR PROFIT
Members vs. Stockholders
Credit unions aren’t driven by profits and shareholders. They’re entirely owned and governed by their members, and all profits go right back to the membership.
1. FREE CHECKING
Most credit unions offer free checking. RCU’s free checking accounts have no minimum balance requirements, no overdraft transfer fees, and
no monthly maintenance fees.
4. Free Debit
Card Rewards
Only a handful of financial institutions extend their credit card rewards program to their debit cards. But Redwood Credit Union offers rewards points every time you use your RCU Visa debit card. Members can redeem points for cash back, travel, gift cards, merchandise, and more.
2. 30,000 Nationwide Free ATM
That’s more than Bank of America, Chase, or Wells Fargo. Just look for the CO-OP logo to find free ATMs within the credit union network. And at Redwood Credit Union, we’ll also reimburse up to four out-of-network ATM fees.
8. MORE SMALL
BUSINESS LOANS
Credit unions play a large role in helping local communities through financial crisis. When banks pull back on lending to small businesses, credit unions are there to fill the gap.
Redwood Credit Union recently processed $119.4 million in SBA Paycheck Protection Program loans helping more than 1,900 local businesses. This helped to save more than 9,120 local jobs.
9. Workplace Balance
The credit union industry is committed to creating diverse, inclusive, balanced workplaces that represent the communities they serve. This includes an equal balance
of male and female executives. At Redwood Credit Union, 62% of Member Experience Managers and 50% of Senior Leadership roles are held by women.
5. LOWER LOAN RATES
Credit unions typically offer lower interest rates on loans and credit cards than banks. At Redwood Credit Union, we offer auto loan rates far below the national average, a potential savings of $1,000+ over the life of your loan.
Home equity loans
lower by
2.4%
Credit Cards
15.54%
lower by
Used auto loans
2.28%
lower by
Source: Rates provided by the National Association of Federal Credit Unions in cooperation with S&P Global Market Intelligence databases at Datatrac. Rates based upon a survey of 253,943 financial institution locations in 19,580 markets across the United States as of 3/23/2021. HELOC rates from Bankrate.com, 3/23/2021. Potential savings vary and assume excellent credit. California properties only. Equal Housing Lender.
Are you ready to start saving money and join the
120 million people in the U.S. who bank with a credit union?
If you currently live or work in San Francisco or the greater North Bay area, join the 8th largest credit union in California and open a free account with Redwood Credit Union today!
Learn more about banking with Redwood Credit Union.
10 Great Reasons to Switch to a Credit Union
- Consumer Reports
BANKS
CREDIT UNIONS
Source: Bankrate.com
7. $130 SavED
Credit union members save an average of $130 a year in fees, interest, and other charges... just by banking with a credit union.
Average Annual Growth in Loans to Small Businesses
from 2008 to 2018
10. FEDERALLY INSURED
At a credit union, your money is protected by federal insurance through the NCUA, with the same coverage banks receive from the FDIC. That means your Redwood Credit Union accounts are backed by the full faith and credit of the United States government for up to $250,000.
*Source: Credit Unions Online; Top 25 California Credit Unions. Rankings updated March 2020 from quarterly data ending December 31, 2019.
Federally Insured
by NCUA
First two non-RCU ATM fees reimbursed with active checking; first four non-RCU ATM fees reimbursed with active checking and active RCU loan or credit card. Active = at least one transaction or payment in prior month. Casino/gambling and ATMs outside U.S. excluded.
Mortgages
1.16%
lower by
Redwood Credit Union is honored to be
named a Top 10 Credit Union in California,
and the highest- ranked credit union in Northern California. - .
Source: National Association of Federally-Insured Credit Unions | nafcu.org
Debit rewards available for personal accounts and signature-based transactions only. Business accounts are not eligible for debit rewards.
Credit Unions
Source: FIS PACE Findings, 2019
Forbes
Source: National Association of Federally Insured Credit Unions | nafcu.org
Credit unions are financial institutions focused on service, not profit. Credit unions offer the same financial products and services as banks, but at much greater value.
Source: Member Loyalty Group Credit Union Benchmark, Net Promoter Score, Q1, 2020.
Source: National Association of Federally Insured Credit Unions | nafcu.org
s
®
Source: NCUA.gov
Most credit unions offer free checking. RCU’s free checking accounts have no minimum balance requirements, no overdraft transfer fees, and no monthly maintenance fees.
Source: Rates provided by the National Association of Federal Credit Unions in cooperation with S&P Global Market Intelligence databases at Datatrac. Rates based upon a survey of 253,943 financial institution locations in 19,580 markets across the United States as of 3/23/2021. HELOC rates from Bankrate.com, 3/23/2021. Potential savings vary and assume excellent credit. California properties only. Equal Housing Lender.
On average, credit unions rank 20% higher than national banks in customer service surveys. Among 95 U.S. credit unions, Redwood Credit Union ranked #1 in Member satisfactionin a recent industry survey.