Redwood Credit Union
At RCU, our focus is you! We're here to help you achieve your financial goals, and we love to help you succeed.
Redwood Credit Union is committed to passionately serving the best interests of our Members, team members, and communities.
As a financial cooperative, our Members are owners, so providing exceptional service is in our organization’s mission in everything we do.
Credit unions aren't about banking—we're about people. We're passionate about helping our Members improve their lives and making a difference in our community.
Since 1950, Redwood Credit Union has been helping people reach their financial goals and dreams.
Redwood Credit Union's leadership works hard to ensure our cooperative provides Members the best possible service and value.
Redwood Credit Union is honored to be recognized by our local communities and the credit union industry.
As a socially-conscious organization, Redwood Credit Union is committed to earth-friendly business practices that will benefit the environment for generations to come.
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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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