Redwood Credit Union
2 cardholder agreements · 313 KB
- Starting score100
- Forced arbitration (opt-out available)-12
- Class-action waiver-12
- Jury-trial waiver-8
- Change-anytime clause-8
- Penalty APR-6
- Fair Terms score54 · grade D
See the exact wording behind each below.
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You can opt out of this issuer's forced arbitration
Redwood Credit Union's agreement lets you reject arbitration and keep your right to sue — usually within a short window after opening the account. You have to send it in writing. Here's the language from the filed agreement:
“…E DISPUTE, CONTROVERSY, OR CLAIM IS SUBMITTED TO ARBITRATION OR IS DECIDED BY A COURT, TO THE FULLEST EXTENT ALLOWED BY LAW. 3. MY RIGHT TO OPT OUT; ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL IF I DO NOT WANT THIS ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL PROVISION TO APPLY, I MAY OPT-OUT BY SENDING A WRITTEN REQUEST TO THE CREDIT UNION POSTMARKED WITHIN SIXTY (60) DAYS OF MY RECEIPT OF THIS AGREEMENT. THE OPT-OUT MUST INCLUDE MY FULL NAME, ADDRESS, TELEPHONE NUMBER, ACCOUNT NUMBER, AND PERSONAL SIGNATURE, AND MUST BE MAILED TO REDWOOD CREDIT UNION, PO BOX 6104, SANTA ROSA, CA 95406. OPTING OUT WILL NOT TERMINATE THIS AGREEMENT OR AFFECT ANY OTHER RIGHTS AND OBLIGATIONS I OR THE CREDIT UNION HAVE UNDER THIS AGREEMENT. 4. GENERAL PROVISIONS This arbitration provision does not preclude me from bringing issues regarding my accounts to the attention of any federal, sta…”
Read the exact mailing address in the clause above, then use our opt-out letter template and full guide →
Contract X-Ray — what's buried in the fine print
5 red flags · 1 filed docDetected in the CFPB-filed cardholder agreements from Redwood Credit Union. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.
You give up your right to sue in court — disputes are pushed into private arbitration.
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“…te transactions and how to exercise those rights is provided in your account agreement. Please note that this Agreement contains a BINDING INDIVIDUAL ARBITRATION PROVISION AND JURY AND CLASS ACTION WAIVER which affects my rights with respect to any claims or disputes by or against RCU. I may opt out of that provision as…”
You can't band together with other cardholders in a class action.
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“…those rights is provided in your account agreement. Please note that this Agreement contains a BINDING INDIVIDUAL ARBITRATION PROVISION AND JURY AND CLASS ACTION WAIVER which affects my rights with respect to any claims or disputes by or against RCU. I may opt out of that provision as described on pages 6 and 7. Form…”
You waive your right to have a dispute heard by a jury.
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“…agree that any legal action regarding this Agreement shall be brought in the county in which RCU s headquarters office is located. Q. ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL Please read this provision carefully. It affects my rights and may have a substantial impact on how legal claims I and RCU have against each ot…”
The issuer reserves the right to change your rates, fees and terms at any time.
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“…erms of this Agreement, RCU has the right to apply the amount specifically pledged to pay off the loan in full or in part. F. CHANGES IN TERMS 1. RCU may change the terms of this Agreement, including my APR, from time to time for any reason consistent with applicable law after giving me any advance notice required by law. My failure to exercise any right I may have to reject the change i…”
Slip up and your rate can jump to a much higher penalty APR.
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“…ased upon Prime Rate. Non-Variable Rate Program APR for Cash Advances Variable Rate Program This APR will vary with the market based upon Prime Rate. Penalty APR and When It Applies No penalty rate will be applied. Your due date is at least 25 days after the close of each billing cycle. We will not charge you…”
The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.
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“…WHETHER THE DISPUTE, CONTROVERSY, OR CLAIM IS SUBMITTED TO ARBITRATION OR IS DECIDED BY A COURT, TO THE FULLEST EXTENT ALLOWED BY LAW. 3. MY RIGHT TO OPT OUT; ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL IF I DO NOT WANT THIS ARBITRATION AND WAIVER OF CLASS ACTION AND JURY TRIAL PROVISION TO APPLY, I MAY OP…”
Checked & clear: Deferred interest
Cardholder agreements
Filed with the CFPB in the 2026 Q1 bulk submission. Opens the original PDF.