FAQs
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Certificates: A simple way to lock in rates for a set term
Certificates can be a good option when you want to lock in a rate with funds you won't need to use right away.
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Can my family members or household members also join if I become a credit union member?
If you become Member of Redwood Credit Union, certain family members and household members may also...
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Can I access my Redwood Credit Union accounts easily if I move?
Yes, you can still access your Redwood Credit Union accounts after you move. We offer...
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Can I access my Redwood Credit Union account if I’m not near a branch?
We offer digital banking, 24/7 support, and nationwide ATM access so you can...
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Which RCU money market account is right for me?
Redwood Credit Union offers three money market options: Money Market Growth, Performance Money Market, and Premier Money Market. The best fit depends on...
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High-yield savings certificates vs. money market accounts: What’s the difference?
If you’re trying to decide between opening a certificate or a money market account, here is the main difference...
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How do I become a Member of Redwood Credit Union?
If you’re wondering how to become a Member of Redwood Credit Union, this FAQ explains who is eligible, what information you need, and how to get started.
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Frequently Asked Questions about ATMs
Credit unions are cooperatives that are owned by their members. Each member has an equal...
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Your Reverse Mortgage Questions Answered
In 2007, RCU created a strategic partnership with Alliance Reverse Mortgage to ensure our members...
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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