Our History
Take a dive into the history of RCU.
Credit unions: for people, not profit
Credit unions are financial institutions with a long history of service and a strong commitment to the philosophy of “people helping people.” We’re focused on service, not profit, and offer the same financial products and services as banks—but at a much greater value.
We're Member-owned
As Member-owned cooperative institutions, credit unions provide a safe place to save and borrow at reasonable rates. Keep reading to learn about the history of credit unions.
Historic milestones
1950
Seven employees of the County of Sonoma form Sonoma County Employees Credit Union (SCECU).
1982
RCU’s first ATM is celebrated.
Credit union changes its name to Redwood Credit Union (RCU) to reflect growth.
1989
RCU expands field of membership to include anyone living or working in Santa Rosa, CA.
1990
RCU expands to Mendocino County with a Ukiah branch.
1993
First Marin County branch opens in San Rafael.
1999
RCU introduced online banking and bill pay.
2000
San Francisco branch opens.
2004
RCU reaches $1 billion in assets. Brett Martinez named President & Chief Executive Officer.
2005
RCU establishes RCU Auto Services location.
2007
RCU completes new Administrative Offices at 3033 Cleveland Avenue in Santa Rosa. First Napa branch opens.
First Napa branch opens.
2017
RCU Community Fund (RCUCF) raises $32 million for North Bay fire relief.
2020
Lake County branch opens.
2022
Napa campus on Devlin Road opens.
2024
RCU named to Newsweek’s list of America’s Best Credit Unions for 2024-2025.
2025
RCU celebrates 75th anniversary with 485,000 Members, 950 team members, and $8.6 billion in assets.
Become a part of history
Become a RCU Member today.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
Test
Content
Leaving Our Website
You are leaving our website and linking to an alternative website not operated by us. Redwood Credit Union does not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.
