Redwood Credit Union has made an impact on its community and its 365,000 members, receiving the award for Best Company to do Business with in Sonoma County. “There are so many amazing companies in Sonoma County, so for readers to select us is humbling,” says Brett Martinez, president and chief executive officer.
The credit union celebrates 70 years of business amid expansion in recent years. In 2018, RCU purchased property in Napa to expand back-office operations, strengthen disaster relief recovery abilities and recruit staff from a broader region. In 2019, the company opened a branch in American Canyon, and in 2020, the long-awaited Lake County branch made its debut.
RCU’s use of technology, assisting the community through events and fundraisers and disaster relief services make them the best company to do business with. At the onset of the COVID-19 pandemic, RCU moved fast to assist members. “Because people are experiencing lost or reduced income as a result of COVID-19, we know many of our members are going through financial challenges, and we’re offering a variety of financial assistance programs,” says Martinez.
Financial assistance included zero percent interest rate loans for up to $5,000 for impacted businesses and individuals (current RCU members); 90-day payment deferrals on all consumer, credit card, mortgage and business loans; early withdrawals from RCU certificates without any penalty; waiving late fees into May, and more.
By staying up on the latest technology, RCU allows members to bank from home online and through mobile devices, doing all transactions remotely, with 85 percent of members never having to visit the branch.
The company’s passion for community is also a top priority, with more than 9,900 hours of volunteering in the communities it serves, and the support of more than 1,200 events in 2019.
“Through our community, business development and government relations events, we’ve reached more than 210,000 people,” says Martinez. “In terms of funding, the value of our giving was more than $3.6 million.”
Its nonprofit, Redwood Credit Union Community Fund (RCUCF), provides a platform for supporting the community. The fund supports housing, security, food, community wellness and mental health and wellness programs during and following disasters. The fund is also available to support financial education for all ages, teaching the importance of money management skills and financial wellness.
RCU’s Bite of Reality program teaches financial literacy to teens, and last year, the company hosted a “Day of Impact” with nearly 700 employees welcoming students from 15 local schools. “One of the first-ever day of its kind in California, RCU taught valuable financial skills to approximately 3,100 teens in a single morning,” says Martinez. “Our community team does a great job of taking this program to local high schools and organizations, not just one day, but across the entire year.”
The company plans to continue its financial education through Bite of Reality and to keep focus on maintaining a high level of member service, employee engagement and financial performance. “It takes a lot of passionate, dedicated people to achieve strong results in these areas,” says Martinez. “And we work hard at it.”
