The CoastHills Federal Credit Union in Atascadero was robbed around 4:05 p.m. Thursday, according to police scanner dispatches.
A white male in his early to mid-20s handed the teller a note saying he had a gun, though no firearm was visible.
He left the bank and got into a 2003 Mitsubishi Mirage or Lancer with a male driver.
The robber is described as 6 feet tall, 165 to 175 pounds with brown curly hair, a mustache and goatee. He was wearing a black and white baseball cap and a black T-shirt with a green and white design on it.
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He was last seen heading south on San Luis Avenue in Atascadero.
This is the ninth bank robbery in SLO County so far this year.