International Credit Union Day
 
 

People helping people

Our hearts go out to those impacted by the devastating North Bay fires. In honor of International Credit Union Day on October 19, there has never been a better time to support our community. Here are two ways we can work together to make a difference right now:

People Helping People - ICU Day

Shop or Donate - ICU Day 2017
Donate Online

ICU Day HistoryThe History of Credit Unions and RCU

  • 1848 - The model for the first credit union came from a co-op bakery in Germany. Failed crops and the threat of famine inspired Franz Hermann Schulze-Delitzsch to allow people to cooperatively own his bakery and in return offered bread and goods at steep savings.
     
  • 1850 - Schulze-Delitzsch organizes the first cooperative credit society, known as the people’s bank.
     
  • 1864 - Friedrich Raiffeisen establishes the first rural credit union for farmers.
     
  • 1900 - Alphonse Desjardins establishes the first credit union in North America in Lévis, Quebec, Canada. The organization was a forerunner of current North American credit unions.
     
  • 1909 - The first credit union in the United States, St. Mary’s Cooperative Credit Association, is formed by Alphonse Desjardins in Manchester, New Hampshire.
     
  • 1930 – The Credit Union National Association (CUNA), the national association for credit unions in the United States, is founded.
     
  • 1934 - President Franklin D. Roosevelt signed the Federal Credit Union Act to promote thriftiness and prevent usury during the Great Depression.
     
  • 1950 - Seven employees from the County of Sonoma form the credit union that would eventually become Redwood Credit Union.
Banks vs. Credit Unions
 

The Credit Union Difference

Credit unions are financial institutions focused on service, not profit. We 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.

  • Q: So, what exactly is a credit union?
  • Q: Who is Edward Filene?
  • Q: Do credit unions offer the same services as banks?
  • Q: Who can join a credit union?
  • Q: Do credit unions pay taxes?
  • Q: Are credit union deposits insured?

Fun Credit Union Facts!

Fact #1
Credit unions’ earnings are returned to Members in the form of low or no fees on services, great rates on loans and savings, and other benefits such as online and mobile banking technology, and other services.
 
Fact #2
RCU was established in 1950 as Sonoma County Employees Credit Union by seven county employees who pooled their funds to provide affordable loans to each other.
 
Fact #3
The majority of U.S. credit unions are federally insured by the National Credit Union Administration (NCUA), which provides the same insurance coverage on deposits as the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits.
 
Fact #4
Once a credit union Member, you can remain a Member regardless of what happens to your original qualifications. If you move to a new city or if you change employers, you can remain a Member of that same credit union until you choose to close your account.
 
Fact #5
Many credit unions, including RCU, belong to the CO-OP shared ATM network, which gives Members access more than 30,000 fee-free ATMs around the country. (RCU Members can get free access to any ATM up to four times a month through our reimbursement program.)
 
Fact #6
People who belong to credit unions are called “Members.” That’s because a credit union is a financial cooperative. Each Member has equal ownership, regardless of how much money they have deposited or how many accounts they have.
 
Fact #7
Each credit union is governed by a board of directors comprised of volunteer Members—not paid stockholders. The board is elected by and from the credit union’s membership. RCU has nine board members, as well as a volunteer supervisory committee with five members, who provide oversight to the credit union’s financial safety and soundness.
 
Fact #8
Worldwide, there are 68,800 credit unions and 231 million credit union Members!
 
 
 
Redwood Credit Union Community Fund Inc. (RCUCF) is a 501 (c)(3) nonprofit organization—Tax ID #47-5084832. All donations are tax deductible to the fullest extent allowed by law. *Promotion subject to change. RCU will donate $0.25 to local food banks in Sonoma, Napa, Marin, Lake, Mendocino and San Francisco counties for each card transaction performed by RCU Members. Program details are effective on 10/19/2017. Purchases with an RCU card are not tax deductible. Visa debit and credit card purchases only. ATM withdrawals, transfers and business account transaction excluded.

Banks vs Credit Unions

Banks vs Credit Unions

Who Offers More Free ATMs Nationwide?

ATM Infographic

Savings Without the Workout

Checking Comparison Chart

Join RCU Today

RCU Logo

Welcome!

Get started now

Join Now OR Check Status

If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

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!

Compare & Save

ATM Access Comparison

Compare ATM Access

Are you tired of paying a fee when you use an ATM from another bank? RCU is part of the CO-OP Network, giving you convenient FREE access to more than 30,000 ATMs at other credit unions, 7-Eleven and Costco locations. That’s more than any bank! 1

ATM Info Chart

Compare & Save

Comparison Chart

Compare Nationwide ATM Access

Are you tired of paying a fee when you use an ATM from another bank? RCU is part of the CO-OP Network, giving you convenient FREE access to more than 30,000 ATMs at other credit unions, 7-Eleven and Costco locations. That’s more than any bank! 1

Redwood Credit Union logo

Wells Fargo

Bank of America

Chase

ATM Access

FREE
31,
000+  locations nationwide
3 free per month for
non-RCU/CO-OP ATMs 2

Free at 12,000+ locations nationwide
$2.50 per transaction at non-Wells Fargo ATMs

Free at 17,000+ locations nationwide
$2.50 per transaction at non-B of A ATMs

Free at 20,000 locations nationwide
$2 per transaction at non-Chase ATMs

1 Fee & ATM information collected from bank websites 8/13/14
2 $1 each thereafter

Top 4 Credit Union Myth Busters

Myth #1: Credit unions are exactly the same as banks

Truth: Credit unions provide the same services as banks, but we do it differently. Banks exist to earn profits for their stockholders. A credit union is owned and run by its members as a cooperative, which means our focus is on people, not profits. For you, that means fewer and lower fees, better rates and exceptional service.

Myth #2: You can’t get a variety of products and services

Truth: Credit unions offer the same range of financial services as a bank, like debit and credit cards, online banking, mobile apps, auto loans and more. The difference is credit unions have fewer fees and lower rates – we use our profits to save you money.

Myth #3: Credit unions are not convenient

Truth: Remember paying a fee when you use an ATM from another bank? RCU is part of the CO-OP Network, giving you convenient FREE access to more than 30,000 ATMs at other credit unions, 7-Eleven and Costco locations. That’s more than any bank! Plus, you can do many transactions online or on your phone without ever having to visit a branch.

Myth #4: Only some people can join a credit union

Truth: While credit unions are chartered to serve specific regions or communities, nearly everyone is eligible to join and benefit.

Now you know the truth. Come experience the difference & bank easier with RCU!

Personal Loan Rate Tiers

High Balance Dividend Earning Checking

Dividend Bearing Checking Rates

HSA Rates

Special Savings Rates

Savings Rates

Solar Loan Credit Lending

Compare Mortgage Options

 

First Mortgages

Equity Loans

Reverse Mortgages

Features

  • Home loans for purchase or refinance
  • Loans for primary residence, second homes and investment properties
  • Low rates on fixed and variable loans
  • Low down payment options
  • Loans up to $2 million

 

  • Home equity loans and lines of credit available
  • Loans for primary residence, second homes and investment properties
  • Low fixed and variable rate options
  • Loans up to $500,000

 

  • Unique loan that allows homeowner convert a portion of home’s equity into cash
  • Can provide income for retirement and estate planning
  • Reverse loans are available for Members 62 years and older
  • Loans available regardless of income
  • Amount borrowed depends on factors such as value of home, current interest rate and borrower’s age

 

To Learn More or Apply

Call our helpful mortgage experts at 1 (800) 609-9009.

Visa Promotion

Visa Holiday Infographic
Fee & term information reflect non-introductory rates, and national averages collected from CreditCards.com 12/2/13 and based off of a 48-month repayment period.

Choose Account Type

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Welcome!

Choose the Type of Account You Wish to Open

Personal  Youth

Already Started?

To complete your application, log in

If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

Login Help

Need Help Logging in to RCU Online?

If you’ve forgotten your RCU Online banking Username, password, or other login information, follow the directions below to get help now.

Sign up today for RCU Online banking.

enroll now

Still need help?

Contact our Member Service Center at 1 (800) 479-7928, Monday through Friday from 7am to 8pm or Saturday from 8am to 5pm PST.

Join RCU Today

RCU Logo

Welcome!

Get started now

Join Now OR Check Status

If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

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!

Choose Account Type

RCU Logo

Welcome!

Choose the Type of Account You Wish to Open

Personal  Youth

Already Started?

To complete your application, log in

If you're interested in opening a Business, Trust, or other type of account, please visit your nearest branch.

Login Help

Need Help Logging in to RCU Online?

If you’ve forgotten your RCU Online banking Username, password, or other login information, follow the directions below to get help now.

Sign up today for RCU Online banking.

enroll now

Still need help?

Contact our Member Service Center at 1 (800) 479-7928, Monday through Friday from 7am to 8pm or Saturday from 8am to 5pm PST.