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Nonprofit Grant Recipients
Redwood Credit Union has provided the following local nonprofits with grants to assist the immediate...
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What’s in a Mortgage Payment?
We know the home loan process can be overwhelming, especially if you aren’t familiar with...
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Annual Meeting Results
For the safety of our Members and employees due to COVID-19, we invited Members to...
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How to Protect Your Retirement Savings from Creditors
Review the creditor protections that apply to retirement accounts.
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A Steady Investment Strategy
No matter how much you try to make objective decisions, you may be tempted to guess at market movements.
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Can Debt Affect Your Retirement Plan?
Debt poses a growing threat to the financial security of many Americans — and not...
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The Power of Optimism
As we emerge from the challenges of the past year, as a community and as...
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Election of Volunteer Officials
At RCU’s recent annual membership meeting, two volunteer officials were re-elected to the Board of...
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Watch Out for Fake Amazon and Apple Calls
One of the more frequent scams we’ve seen lately is fake calls from Apple and...
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Three Reasons to Keep Your Personal and Business Finances Separate
Your personal assets could be vulnerable to business debts, losses, and lawsuits. Here are three reasons why it’s important to keep them separate.
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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