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Annual Statements (Year 2023)

I. Annual Statements: Who, Why and What

II. Structure

III. Business Annual Statements

IV. Frequently Asked Questions (FAQs)


I. Annual Statements: Who, Why and What

  • Annual statements are provided to all RCU credit cardholders (consumer & business)
  • We provide annual statements to summarize a cardholder’s purchase activity throughout the year.
  • If you receive Visa® eStatements, your annual statement is available now to view in Redwood Credit Union digital banking.
  • If you receive paper statements, please log in to your Redwood Credit Union account online to view this statement. Due to decreased demand and to reduce paper waste, we no longer mail annual Visa® statements.
  • Please note that annual statements will only show "purchases." Transaction types listed below will not appear on annual statements:
    • Payments
    • Cash advances
    • Balance transfers
    • Finance charges
    • Late fees

II. Structure

  • Transactions are divided into 23 groups or categories
    • Visa has over 1,000 Merchant Category Codes (MCCs), which RCU has narrowed down to 23 groups/categories. These are listed below:

Airlines

Associations

Auto-Rental

Automobiles & Rental

Business Services

Clothing Stores

Contracted Services

Education

Gas Stations

Government Services

Hotels & Motels

Other

Personal Services

Health Services

Professional Services

Repair Services

Restaurants

Retail

Services Providers

Transportation

Travel & Entertainment

Utilities

Wholesale Trade


  • For example, some of the category codes included under Health Services are:
    • Nursing and Personal Care Facilities
    • Chiropractors
    • Hospitals
    • Ambulance Services

III. Business Annual Statements

  • Business cardholders that only have a control loan will get one annual statement.
  • Business accounts with multiple sub-loans will get annual statements for each sub-loan.

IV. Frequently Asked Questions (FAQs)

1. How do I locate my annual statement online?
- To find your statements in mobile or desktop banking, visit Where can I view my eStatements in digital banking?
2. Why didn’t I receive an annual statement?
- An annual statement will not generate if there are fewer than 10 transactions on your Visa® in the previous year.
3. Why is the joint cardholder not listed on the annual statement?
- Space limitations only allow us to list one cardholder name on the annual statement–in this case, the primary cardholder’s name. In the future, we are working to ensure both names appear on annual statements.
4. How do I get more details about a transaction?
- Log in to your RCU account to review your Visa® transaction history for more details.
- You may also revisit your previous monthly statements.
5. I do not recognize a transaction on the annual statement. How do I dispute this?
- Call us at 1 (800) 479-7928, log in to Redwood Credit Union digital banking or mobile app to send us a secure message, or visit a branch to file a dispute.
- For restrictions and details on filing disputes, please refer to RCU's Zero Liability Guarantee.
6. How were the transactions grouped?
- Visa has over 1,000 Merchant Category Codes (MCCs) that Redwood grouped to 23 groups/categories:

Airlines

Associations

Auto-Rental

Automobiles & Rental

Business Services

Clothing Stores

Contracted Services

Education

Gas Stations

Government Services

Hotels & Motels

Other

Personal Services

Health Services

Professional Services

Repair Services

Restaurants

Retail

Services Providers

Transportation

Travel & Entertainment

Utilities

Wholesale Trade

For example, the following MCCs are all grouped into the category Health Services::
Nursing and Personal Care Facilities
Chiropractors
Hospitals
Ambulance Services
View a full list of Visa® MCCs.
7. What MCCs/transactions belong to Wholesale Trade and Other?
Wholesale Trade includes:
Suppliers (repair, home furnishings & merchandise)
Retail (luxury, leisure & pharmacy)
Service Providers (construction, business & computer services)
Other includes:
Door-to-door Sales
Catalog Merchants
Telemarketing Merchants & Direct Marketing