Redwood Credit Union Launches Apple Pay
First North Bay-based institution to offer high-tech payment service
Redwood Credit Union (RCU) members can now use Apple Pay with their RCU credit and debit cards, allowing payments at participating businesses with a compatible Apple device. RCU is the first North Bay-based financial institution to offer the high-tech payment option.
“We are always seeking ways to add convenience and choice for our members,” said Ron Felder, Executive Vice President & Chief Lending Officer at Redwood Credit Union. “Apple Pay allows members to continue using the payment cards they love, but do so in a whole new way.”
A member using Apple Pay can use their iPhone 6, iPhone 6 Plus or other compatible device to pay by holding the device near a corresponding receiver at checkout. The service can also be used for certain online purchases. Apple Pay adds a unique layer of security by using a digital version of the member’s card, and no actual card information is transmitted during the transaction.
“We’re confident in this new technology, and it fits well with the security we provide across all our services,” Mr. Felder said. “With mobile banking, mobile check deposit, mobile bill pay and now Apple Pay, we’re putting more powerful tools into the hands of our members – wherever they are.”
In response to the rapid emergence of digital payment technologies such as Apple Pay, RCU recently created a new Payments division specifically to develop and manage all forms of payment processes, from traditional credit and debit cards to digital, electronic and automated payments.
“We recognize that people’s behaviors and expectations are changing when it comes to payment options, convenience and security, and we are committed to meeting our members’ needs and requests for new services and technology,” said Felder.
The credit union has created a series of tutorials to assist members with setting up Apple Pay, available at www.redwoodcu.org/ApplePay. Members can also contact RCU’s local Member Service Center at 1 (800) 479-7928.
About Redwood Credit Union
Founded in 1950, Redwood Credit Union is a full-service financial institution providing personal and business banking to anyone living or working in the North Bay or San Francisco. As a financial cooperative focused on people not profit, 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 a variety of insurance products and discount auto sales through their wholly-owned subsidiary. RCU currently has more than $2.4 billion in assets and serves over 240,000 Members with full-service branch locations 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.
