Inspiring Hope for the New Year
December 18, 2023
Happy new year! This month marks Redwood Credit Union’s 74th year of providing financial services to the North Bay and San Francisco, and we are honored to be your trusted financial partner in the diverse communities we serve.
Just as we are committed to serving our Members, we are also committed to serving and investing in our communities. In 2023, we proudly contributed to numerous local nonprofits through volunteerism, sponsorships, and grantmaking; provided free financial wellness events; and hosted document shredding and e-waste recycling events to help protect your privacy and be good environmental stewards. Additionally, our team took a day to gather, build, and donate more than 400 bikes to kids in need across 22 communities in 6 local counties. Together we make a difference, and we look forward to the opportunities 2024 will bring to make a positive impact in our communities.
In today’s environment, we understand it is more important than ever to do business with those you can depend on. Out of nearly 5,000 credit unions, RCU is currently rated the 8th healthiest credit union in the nation, which is a testament to the financial strength of our organization.
All of this is possible because of the dedication and empathy of our 850 team members who work hard every day to earn and keep your trust. Their commitment to our culture of service has led us to be consistently recognized as a best place to work. Our team loves to help you succeed and doing the right thing is the foundation of how we serve. Every day we are passionate about serving our Members’ needs and helping you achieve your goals and dreams.
We promise to continue inspiring hope and elevating the financial well-being of our community, one person at a time, through good times and bad.
On behalf of all of us at Redwood Credit Union, I wish you a bright new year full of good health, hope, and happiness.
Best regards,
Brett Martinez
President & CEO
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.
Leaving Our Website
You are leaving our website and linking to an alternative website not operated by us. Redwood Credit Union does not endorse or guarantee the products, information, or recommendations provided by third-party vendors or third-party linked sites.