Financial Tips
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Creating Memories, Not Expenses
Here are a few tips for creating more of those good memories without the accompanying stress and debt.
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Tips for Conserving Water and Saving Money
As you embrace water-saving techniques this summer, you should see water costs go down. Here...
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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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6 Money Moves for Positive Change in the Coming Year
We can’t deny that bad things sometimes happen in life, but we can learn to...
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4 Easy Ways to Reduce Debt
Nearly half of U.S. adults currently have credit card debt, according to a report from...
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Resolve to be Financially Healthy in 2020
It’s almost here: a new year to begin afresh with your financial resolutions! Get a...
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Guidelines for a Grocery Bill You Can Stomach
While all nonessential shopping should be put on hold when you’re facing a financial crisis,...
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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...
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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