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.
| 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 Public 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. |