Redwood Credit Union (RCU) has won an award for RCUpay from NACHA, the Electronic Payments Association®, which celebrates proven accomplishment and leadership in the payments industry and recognizes innovations defining the future.
RCUpay is a mobile-first solution that allows customers to send money to anyone in the U.S. via email or text. Competing with person-to-person (P2P) players such as Venmo and PayPal, RCUpay sets itself apart by streamlining payments in real-time between members. RCUpay also foregoes the burdensome registration process common with other P2P services to claim funds.
“Receiving an award from NACHA, which sets payment standards nationally, is very exciting,” said Todd Lindemann, SVP Payments. “We wanted to offer our members a system that was free, fast, simple to utilize and secure, which they could rely on completely. Receiving this award from NACHA helps to validate that we did our job well.”
Chief operating officer of NACHA, Jane Larimer, reported, “We are proud to recognize Team Redwood as a well-deserving recipient of the 2018 NACHA Payments Awards. This is an incredible group of award winners who stood out for their accomplishments, leadership and for continuing to push the boundaries of innovation in the payments industry.”
About Redwood Credit Union
Founded in 1950, Redwood Credit Union (RCU) 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, wealth management, financial planning services, and more. The Credit Union also offers insurance and discount auto sales through their wholly-owned subsidiary. RCU has over $4 billion in assets and serves over 300,000 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. RCU can be followed on Facebook at facebook.com/redwoodcu and on Twitter at @Redwoodcu. For more information, please call 1 (800) 479-7928 or visit www.redwoodcu.org.