Fact Sheet
Quick facts about RCU and our business.
Quick Facts
Overview
- We serve over 486,000 Members throughout Sonoma, Marin, Napa, San Francisco, Mendocino, Lake, Contra Costa and Solano counties
- Current size: Largest credit union in the North Bay with $8.9 billion in assets
- RCU employs over 960 people
- Administrative offices are located in Santa Rosa and Napa, California
- Currently ranked 37st largest credit union in the U.S. (of approximately 5,200) and 8th largest in California (of over 250) as of Q3 2024.
What we offer
- Full range of financial services for personal or business use, including checking, savings, loans, credit cards, investments1, insurance2, and auto purchasing/brokerage3
- 22 branch locations, including 21 in North Bay and 1 in San Francisco, plus a full-service insurance agency and an auto sales and brokering center
- 30,000+ free network ATMs, plus an out-of-network ATM fee reimbursement program for Members4
- Full range of free online services, including digital banking, bill pay and more
- SBA Preferred Lender – Small Business Administration
Who we serve
- Anyone who lives, works or owns a business in the counties of Sonoma, Marin, Napa, San Francisco, Mendocino, Lake, Contra Costa and Solano
Our history
- Founded in 1950 by 7 employees of the County of Sonoma
- In 1982, changed name to Redwood Credit Union to reflect increased demand for affordable financial services in the North Bay
Awards and recognition
- One of America’s Best Credit Unions – Newsweek, 2024
- Best Credit Union – Press Democrat readers’ poll, every year
- Best Company to Do Business With in Sonoma and Napa Counties – NorthBay biz
- Best Credit Union in Napa and Sonoma Counties -North Bay Bohemian Reader’s Poll
- Best Credit Union in Marin – Pacific Sun and Marin Independent Journal
- Best Place to Work – 19th consecutive year, North Bay Business Journal
- 5‐Star Bauer Rating – BauerFinancial.com
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1Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The credit union has contracted with CFS to make non-deposit investment products and services available to credit union members.
2Insurance products are not deposits of Redwood Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by Redwood Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by Redwood Credit Union need not be purchased from Redwood Credit Union and may be purchased from an agent or an insurance company of the member’s choice. RCU Insurance Services is a wholly-owned subsidiary of Redwood Credit Union. Business conducted with RCU Insurance Services is separate and distinct from any business conducted with Redwood Credit Union. License no. 0D91054. NPN no. 7612227.
3Auto purchasing and brokerage available through Redwood Credit Union’s wholly owned subsidiary, RCU Auto Services.
4First 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 checking is defined as a checking account having 3 or more transactions per month (excluding telephone teller, fee or dividend posting transactions). RCU loan or credit card with at least 1 transaction or payment in the prior month. Direct Access checking accounts are ineligible for ATM fee reimbursements. ATMs with fees over $10, at casino/gambling locations, and outside the U.S. are excluded from reimbursement.
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.
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