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RCU History

Redwood Credit Union’s History

 

Credit unions are financial institutions with a long history of service and a strong commitment to the philosophy of "people helping people." They're focused on service, not profit, and offer the same financial products and services as banks, but at a much greater value. As Member-owned cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates. 

Read on to discover the history of credit unions.
Sonoma County Employees Credit Union
RCU Historic Milestones
Jan. 19,
1950
Seven employees form Sonoma County Employees Credit Union (SCECU), operating from Sonoma County Auditor’s Office in Court House Square, Santa Rosa, CA.
1967 The Credit Union opens its first branch, located at 370 Administration Drive in Santa Rosa, CA.
1982 SCECU is renamed Redwood Credit Union to reflect the growing demand from our communities for affordable financial services. RCU also merged in Santa Rosa Employees Credit Union and installed its first Automated Teller Machine (ATM) at 370 Administration Drive in Santa Rosa, CA
1989 RCU expands field of membership to include anyone living or working in Santa Rosa, CA.
1990 RCU reaches $100 million in assets, merges in three credit unions and adds branch locations in Santa Rosa and Ukiah.
1997 RCU expands field of membership to include anyone living or working in the counties of Sonoma, Marin, Mendocino, Lake and Napa.
2000 RCU celebrates its 50th anniversary, and serves 80,000 Members, is $500 million in assets and operates 8 full-service branches. RCU expands its field of membership to include anyone living or working in San Francisco, Solano and Contra Costa counties.  
2001 RCU membership reaches 100,000.
2004 RCU’s assets reach $1 billion.
2007 RCU completes and occupies a new corporate building at 3033 Cleveland Avenue in Santa Rosa, CA which is also recognized as a Silver L.E.E.D. Certified green building.
2010 RCU celebrates 60 years of service and serves nearly 185,000 Members.
2011 The 200,000th Member joins RCU and a merger is completed with Cal State Central Credit Union. RCU's branch network expands to 18 locations throughout the North Bay and San Francisco. 
2012 RCU reaches $2 billion in assets & serves over 220,000 Members.
2016 RCU opens branch in Mill Valley.
2016 RCU's assets reach $3 billion.

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Redwood Credit Union serves anyone living, working or owning a business in California’s Northern Bay Area, which includes the counties of Sonoma, Marin, Napa, Mendocino, Lake, San Francisco, Contra Costa and Solano. We look forward to serving you!

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