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Moving Forward with Safe and Secure Banking from Home
There’s no doubt, our world has changed dramatically in a short amount of time...
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Mobile Wallet
A mobile wallet is an app on your mobile device that stores payment information so...
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How to Cut Costs and Reduce Debt
If these past months have taught us anything, it’s that we should prepare for the...
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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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Beware of Job Scams
Many people are looking for ways to make money working from home. You may see...
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Does Your Insurance Cover Your Current Needs?
It’s a good idea to review your insurance policies each year to make sure they...
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Savings Transfers Update
Thanks to recent federal regulation changes, online transfers and withdrawals from savings and money market...
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A Message to Our Community
Redwood Credit Union unequivocally stands for dignity and respect, combating inequity with passionate service, trust,...
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Credit Union Youth Month
April is National Credit Union Youth Month! Created to encourage young people to develop healthy...
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Helping You is Our Focus
As your credit union, we’re here to help. We care about the health and wellness...
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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