Blog
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Protect Yourself from Identity Theft
If you’ve been a victim of identity theft, you’re not alone. According to the Federal...
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Create a Vision Board to Help the Whole Family Save
Visualizing your goals using pictures instead of numbers can be a very impactful way to...
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Learn the Benefits of an ADU
Free Webinar: Learn How to Pay for Your New Accessory Dwelling Unit! RCU has partnered...
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We’ve Got You Covered
With online and mobile access more important than ever before, we’re excited to announce the...
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Safe and Trusted, For You
As your credit union, we’re committed to being a safe, trusted place for you to...
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International Credit Union Day, Building Financial Health
Join us in celebrating International Credit Union (ICU) Day on Thursday, October 21st, a time...
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Making the Season Bright
It may seem ages away, but the most wonderful time of the year will be...
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Protect Yourself When Shopping Online
Shopping online is a great way to save time and money—especially during the holidays. It’s...
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What’s in a Mortgage Payment?
We know the home loan process can be overwhelming, especially if you aren’t familiar with...
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The Power of Optimism
As we emerge from the challenges of the past year, as a community and as...
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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