Redwood Credit Union and Cal State Central complete merger
Cal State Central Credit Union CEO Jim Larson (left) and Redwood Credit Union President & CEO Brett Martinez (right) announce the completion of a merger between the two organizations.
Redwood Credit Union (RCU) and Cal State Central Credit Union (CSCCU) have completed a merger, with Redwood Credit Union remaining as the surviving organization. The merger, announced earlier this year, was approved by the Boards of Directors for both organizations, and by industry regulators the National Credit Union Administration and the Department of Financial Institutions. The organizational merger was completed April 1 and the integration of CSCCU Member accounts and branches into RCU’s network was completed June 1.
CSCCU’s prior locations on Dutton Avenue in Santa Rosa, in Sonoma and in Glen Ellen have become Redwood Credit Union branches. Cal State’s Rohnert Park office was closed since RCU already offers a nearby branch and ATMs at 250 Rohnert Park Expressway in Rohnert Park.
“We are honored to welcome CSCCU Members and employees to Redwood Credit Union. We have a great deal to offer our new Members in terms of value, service and convenience,” said Brett Martinez, RCU’s President & CEO. “And all of our nearly 200,000 Members will benefit from the three additional locations to our branch and ATM network resulting from this joining.”
“CSCCU has served the financial needs of state employees and our community for nearly 75 years. Our partnership with RCU is allowing us to fulfill our mission and provide the added benefits our Members want and deserve,” stated Jim Larson, CSCCU’s CEO.
Redwood Credit Union is a full-service financial institution serving the North Bay and San Francisco since 1950. With nearly $2 billion in assets, RCU now offers 18 Bay Area locations, including the former CSCCU sites, and a new branch opening in Sebastopol this fall, and over 28,000 fee-free network ATMs across the nation. Anyone living or working in the North Bay or San Francisco can bank with RCU. For more information, please visit www.redwoodcu.org, or call (707) 545-4000 or 1 (800) 479-7928.