Redwood Credit Union has recently been ranked the healthiest credit union in California and sixth healthiest in the nation among large credit unions as of June 30, 2023, according to Glatt Consulting’s credit union industry HealthScore, which measures credit unions’ financial strength and growth.
Glatt Consulting, an independent firm that studies the financial health of credit unions, uses 17 performance metrics to calculate its Credit Union Industry HealthScore, including financial and operational strength, growth, asset quality, asset and liability management, and productivity. There are currently about 300 credit unions in California, and about 5,200 nationwide, making this recognition particularly significant.
“Proven financial strength and stability are essential for any financial institution, and consumers are paying attention to this now more than ever,” says Brett Martinez, President & CEO. “As a credit union, our continued strength and growth allow us to support financial wellness for our members and communities in good times and bad.”
In addition to receiving the Glatt ranking, RCU has, for the ninth year running, been awarded the highest, 5-star rating for financial strength from Bauer Financial, an independent organization that ranks the financial strength of both banks and credit unions.
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. With a mission to passionately serve the best interests of its Members, team members, and communities, RCU delivers many ways for its Members to save and build money through checking and savings accounts, auto and home loans, credit cards, digital banking, business services, commercial and SBA lending, and more. Wealth management and investment services are available through CUSO Financial Services L.P., and insurance and auto-purchasing services are also offered through RCU Services Group (RCU’s wholly owned subsidiary). RCU has more than $8 billion in assets and serves more than 450,000 members with full-service branches from San Francisco to Ukiah. For more information, call 1 (800) 479-7928, visit redwoodcu.org, or follow RCU on Facebook, Instagram, Twitter, and LinkedIn for news and updates.