Save Money on Gas and Drive Greener
June 22, 2022
Hybrid and electric vehicles are growing in popularity, and surging gas prices are fueling demand.
There are plenty of benefits to hybrid or electric vehicles, including lower carbon dioxide emissions, less maintenance, fewer fuel stops, and quieter engines. Though these cars tend to come with a higher upfront price tag than traditional car options, government incentives are sometimes available, and they help you save more money over time on general running cost.
If you’re looking to buy an electric or hybrid vehicle but don’t know how to get started, we can help!
- Find a car – RCU Auto Services offers an ever-changing inventory of pre-owned vehicles. We’ll help you find the hybrid or electric vehicle you want.
- Receive a loan discount – Purchase a qualifying hybrid or electric vehicle and we’ll give you 0.25% off the interest rate.
- Convenient auto insurance* – Insure your car through RCU Insurance Services so you can easily manage your loan and policies in one place through online banking or our mobile app.
- Fixed monthly payments – Get peace of mind knowing your payments will not change over the life of the loan.
- Finance your electric vehicle charger – Apply for a personal loan for your at-home charger and enjoy a low fixed rate with flexible term options.
- State tax credits – California encourages drivers to purchase electric and hybrid vehicles by offering tax credits.
RCU is here to help before, during, and after your car purchase experience. If you want to speak to a knowledgeable advisor, schedule a phone or video appointment.
*Insurance products are not deposits of RCU and are not protected by NCUA. They are not an obligation of or guaranteed by RCU and may be subject to risk. Any insurance required as a condition of an extension of credit by RCU need not be purchased from RCUIS and may be purchased from an agent or an insurance company of the Member’s choice. RCUIS is a wholly owned subsidiary of RCU. Business conducted with RCUIS is separate and distinct from any business conducted with RCU. License no. 0D91054. NPN 7612227.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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