Business News
- Details
- Written by: Redwood Credit Union
NAPA, Calif. — Jennifer O’Reilly has joined Redwood Credit Union as senior vice president of Enterprise Risk Management.
In her role, O’Reilly will lead RCU’s risk and assurance teams, namely risk management, compliance, Bank Secrecy Act/Anti-Money Laundering, internal audit, vendor management, and business continuity.
O’Reilly brings over 25 years of experience in financial services, overseeing departments with risk, compliance and internal audit responsibilities.
Previously, she served as chief risk officer of SmartBiz Bank; vice president, operations risk and compliance at First Republic Bank; vice president, director of enterprise Risk at First Republic Bank; and senior vice president at Union Bank.
“We are excited to have her on board and are confident her wealth of experience and leadership will be invaluable as we continue to enhance our risk management practices and drive our strategies forward,” said Mishel Kaufman, RCU’s chief operating and risk officer.
O’Reilly, who currently lives in San Rafael, holds a bachelor’s degree in economics from University of California, Davis, and is a Certified Risk Professional through the American Bankers Association.
She has served on the Risk Management Association’s Enterprise Risk Council and on the scholarship committee of the Financial Women of San Francisco.
- Details
- Written by: Elizabeth Larson
SACRAMENTO — State Controller Malia M. Cohen has released her monthly cash report covering the state’s General Fund revenues, disbursements and actual cash balance for the fiscal year through June 30, 2025.
As noted in the Controller’s Monthly Statement of General Fund Cash Receipts and Disbursements, receipts for the fiscal year were higher than estimates contained in the 2025-26 May Revision by $3.7 billion, or 1.6 percent.
Fiscal year-to-date expenditures were $9.7 billion, or 4.3 percent, lower than Governor’s Budget estimates. The state started the fiscal year with a $14.7 billion General Fund cash balance and ended June with a $33.8 billion balance.
“California closed its 2024-25 fiscal year with a positive cash balance and available borrowable resources, which is welcome news as the state faces economic challenges and projected deficits in the years ahead,” said Controller Cohen. “On the spending side of the ledger, our best course of action includes fiscal discipline in order to maintain our strong cash position and rainy-day reserves needed to avoid harsh program cuts in the future, especially when considering the current uncertainty of federal funding.”
For the fiscal year through June, personal income tax receipts were $1.3 billion above May Revision projections, or 1 percent. Corporation tax collections were $714.7 million, or 1.8 percent above estimates. Retail sales and use tax receipts were $115.1 million below recent projections, or 0.3 percent.
The controller continues to note that while April 15 is the traditional annual personal income tax payment deadline, the Franchise Tax Board extended the current deadline for certain Los Angeles County residents and businesses impacted by the fires that began on Jan. 7, 2025. These residents and businesses have until October 15, 2025, to file and pay taxes.
As of June 30, the state had $89.9 billion in unused borrowable resources. These resources are from internal funds outside of the General Fund that are borrowable under state law and that the State Controller’s Office uses to manage daily and monthly cash deficits when revenue collections are lower than expenditures. Internal borrowing from special funds is short-term and is repaid so that borrowing does not affect the operations of the special funds.
- Details
- Written by: Elizabeth Larson
WALNUT CREEK, Calif. — With summer road trips in full swing, drivers are getting a break at the pump, as gas prices match July 2021 numbers.
The national average for a gallon of gas dipped as low as $3.14 this past week before going up a few cents to $3.17. It’s been four years since the national average has been this low during the summer.
This season’s lower pump prices are due to an abundance of supply in the oil market.
This week, California drivers will find an average price of $4.53 a gallon, a 3 cent drop from last week.
Fuel prices around the state:
Lake County: $4.57
San Francisco: $4.74
Oakland: $4.60
San Jose: $4.55
Sacramento: $4.49
Fresno: $4.58
Stockton: $4.38
Oil market dynamics
At the close of Wednesday’s formal trading session, WTI increased 5 cents to settle at $68.38 a barrel.
The EIA reports that crude oil inventories increased by 7.1 million barrels from the previous week. At 426 million barrels, U.S. crude oil inventories are about 8% below the five-year average for this time of year.
Quick gas and electricity stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.53), Hawaii ($4.47), Washington ($4.40), Oregon ($4.01), Nevada ($3.76), Alaska ($3.73), Idaho ($3.47), Illinois ($3.46), Washington, DC ($3.33), and Utah ($3.32).
The nation's top 10 least expensive gasoline markets are Mississippi ($2.71), Alabama ($2.79), Louisiana ($2.79), Oklahoma ($2.79), Texas ($2.80), Tennessee ($2.82), Arkansas ($2.82), South Carolina ($2.83), Missouri ($2.86), and Kentucky ($2.87).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (51 cents), Alaska (50 cents), Tennessee (46 cents), Hawaii (46 cents), Montana (45 cents), South Carolina (44 cents), New Hampshire (43 cents), Wisconsin (42 cents), Alabama (42 cents), and Arkansas (42 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (25 cents), Missouri (27 cents), Maryland (28 cents), Utah (28 cents), Nebraska (30 cents), Delaware (31 cents), Colorado (33 cents), North Carolina (33 cents), Washington, DC (33 cents), and Iowa (33 cents)
Drivers can find current gas and electric charging prices along their route using the AAA Mobile App, now available on CarPlay.
Find current fuel prices at gasprices.aaa.com.
- Details
- Written by: Redwood Credit Union
SANTA ROSA, Calif. — Redwood Credit Union, or RCU, is proud to be recognized as one of America’s Greatest Midsize Workplaces 2025 by Newsweek.
This award recognizes RCU’s impact and commitment to its company culture, work-life balance, and well-being for its team members.
Newsweek recognized companies through a rigorous evaluation based on online employee reviews, publicly available data, an extensive survey, and over 120 key performance indicators. This thorough evaluation assessed factors contributing to workplace performance and employee satisfaction.
“This honor reflects the dedication and hard work of our entire team at RCU,” said Brett Martinez, president and CEO of Redwood Credit Union. “True to our mission of serving the best interests of our members, team members, and communities, we remain committed to fostering a supportive and innovative culture where our team members can thrive and continue to deliver exceptional service to our members every day.”
The study, conducted by Plant-A Insights Group, involved a comprehensive analysis of over 3.5 million online employee reviews, along with publicly available data for 9,000 companies employing between 500 and 1,000 individuals.
A wide range of crucial factors were considered, including leadership, integrity, compensation, career development, culture and belonging, and work-life balance.
“Midsize companies play a crucial role in the U.S. economy, offering career opportunities across various industries,” said Jennifer H. Cunningham, editor-in-chief of Newsweek. “But what sets the best apart? Newsweek and market-data research firm Plant-A Insights are proud to introduce America’s Greatest Midsize Workplaces 2025, spotlighting companies that have excelled in employee experience and workplace performance through strong leadership, competitive benefits, career development opportunities, and a culture of belonging.”
RCU has also been recognized by Newsweek as one of America’s Best Regional Banks and Credit Unions in both 2024 and 2025. Newsweek’s study for this award analyzed the financial health, operational performance, and member satisfaction of more than 9,000 financial institutions across the U.S. to identify the top 500 credit unions and the top 500 regional banks.
Founded in 1950, Redwood Credit Union is a full-service, not-for-profit financial institution providing personal and business banking to consumers and businesses in the North Bay and San Francisco. For more information, call 1 (800) 479-7928, visit redwoodcu.org, or follow RCU on Facebook, Instagram, X, and LinkedIn for news and updates.
How to resolve AdBlock issue?