Rabbobank

RABOBANK

The Comptroller of the Currency (OCC) recently approved Rabobank’s application to acquire Central Coast Bankcorp of Salinas, CA.  Rabobank is the biggest retail bank in the Netherlands. Now that Rabobank has merged with Central Coast, it is a $4 billion-asset, 37-branch operation stretching from California's central coast to the Mexican border.

Rabobank is known primarily for its agricultural lending, but has plans to expand into real estate construction, commercial real estate and other business lines.

CRC will continue to pressure Rabobank officials to address rural immigrant workers’ needs for fairly priced financial products and services, such as a low-cost remittance product and a deposit account with money orders (e.g., Essential Bank Account).  CRC would also like the bank to engage in more community development activities that result in affordable housing, Individual Development Accounts (IDA's) and technical assistance for small business development.