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Financial wellness
What are your financial goals? Save for the future, spend on something you’ve been dreaming about, borrow to meet your family’s growing needs, plan for retirement? Whatever your goals are, we’re here to help. Explore these articles, videos, podcasts, and more to learn how RCU supports all your endeavors!
Sometimes the most important part of getting started is making sure you have the information to support you. This Weathering a Financial Storm e-book can help you address some of the hardships many of us are experiencing due to COVID-19 and other financial stressors. You can also enjoy this free webinar from licensed psychotherapist, Mary O’Neill, titled “Self-Care and Stress Management: Tools and Best Practices for Coping with COVID-19 and Beyond.”
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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