For the second year in a row, Redwood Credit Union (RCU) ranks among the top five healthiest credit unions – out of over 6,200 nationwide -- based on financial and operational strength and growth for the period ending December 31, 2015. This ranking is issued by Glatt Consulting, an independent firm that studies the financial health of U.S. credit unions.
Founded by long-time credit union industry consultant Tom Glatt in 2006, the North Carolina-based Glatt Consulting developed a Credit Union Industry HealthScore calculated using a variety of performance metrics, and they publish the HealthScores quarterly. This period, Glatt expanded their HealthScore rating criteria from 11 metrics to 17. RCU is the only credit union to remain in the top 5 under the new criteria, compared to other credit unions who ranked in the top 5 one year ago.
“RCU is passionate about helping people succeed, so it’s important to us to ensure a safe and sound financial organization that continues to grow to serve our communities’ needs,” says Brett Martinez, president & CEO. “Being a consistently healthy credit union allows us to focus on serving the best interests of our Members, employees and communities so we can help them achieve financial success.”
Glatt’s HealthScore criteria cover the following categories: capital adequacy, asset quality, earnings, asset/liability management, productivity, and growth. The consultant’s blog highlights the top 5 U.S. credit unions, and shares additional insights about the overall industry scores here: http://glattconsulting.com/2016/03/17/credit-union-healthscores-steady-rise-shows-industry-strength/
About Redwood Credit Union
Founded in 1950, Redwood Credit Union is a full-service financial institution providing personal and business banking to consumers and businesses in the North Bay and San Francisco. RCU offers complete financial services including checking and savings accounts, auto and home loans, credit cards, online and mobile banking, business services, commercial and SBA lending, investment and financial planning services and more. The Credit Union also offers insurance and discount auto sales through their wholly-owned subsidiary. RCU currently has $2.9 billion in assets and serves over 260,000 Members with full-service branches from San Francisco to Ukiah, more than 30,000 fee-free network ATMs nationwide and convenient, free online and mobile banking. For more information, please call 1 (800) 479-7928 or visit www.redwoodcu.org.