Redwood Credit Union (RCU) has announced its celebration of 70 years of service to members. Originally formed by seven County of Sonoma employees as an affordable means to make bridge loans to fellow employees between paychecks, the credit union has grown to offer full service personal and business banking, as well as financial services beyond banking such as financial planning, insurance, and even an auto sales center.
Founded in 1950 as Sonoma County Employees Credit Union, in 1982, that entity merged with Santa Rosa Public Employees Credit Union and was renamed Redwood Credit Union to reflect its growing presence in the Redwood Empire. In 1997, RCU expanded its field of membership to serve anyone living or working in the five North Bay counties of Sonoma, Marin, Mendocino, Lake, and Napa. And in 2000, RCU received approval to serve residents and businesses in the three additional counties of San Francisco, Solano, and Contra Costa.
The credit union now has 19 locations throughout the North Bay and San Francisco and is the 43rd largest credit union in the U.S. and eighth largest in California. RCU has been named
one of the top five healthiest credit unions in the nation for six consecutive years by Glatt Consulting, an independent firm that measures credit union health against 17 metrics of strength and growth.
“Though we’ve grown and added many services and locations over the past 70 years, helping people has always been at the heart of what we do,” said Brett Martinez, RCU President & CEO. “We’re thankful for our 353,000 members, and through their loyalty and participation—as well as the dedication of our 700 employees—we have a solid foundation to continue providing affordable financial services and support to our communities for many more decades to come.”