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A Passion for Service
Credit unions were created with a focus on people over profit, and this distinction is...
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Summer Recreational Vehicles
Use the handy checklist below to help you choose the recreational vehicle that’s best for...
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Tax Return Deadline Moved to May 17, 2021
Haven’t filed your 2020 taxes yet? What you need to know about the deadline recently announced by the IRS.
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11 Ways to Stretch Your Stimulus Check
Stimulus checks are hitting bank accounts all over the nation. Many will put that extra money...
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The Markets – as of Market Close February 26, 2021
While COVID-19 continues to take a toll on the global economy, U.S. unemployment rates drop, showing signs of slow recovery.
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A Financial Wellness Plan Can Help Pave the Road to Retirement
A global pandemic gave reason to pause on our physical wellness, but often overlooked and equally important is financial wellness.
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Outwit Vaccine Scammers
Fraudsters will try, any way they can, to gain personal information or money from people....
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Adjustable or Fixed – What’s the Best Mortgage Option?
Looking to purchase or refinance a home? We can help you choose the mortgage loan...
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4 Tips for an Eco-Friendly Spring
As you begin spring cleaning this year, why not incorporate a few changes to help...
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The Markets – as of Market Close January 29, 2021
A coordinated effort among retail investors created extreme volatility causing stocks in each of the benchmark indexes to lose value.
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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