Savings
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How to really save for unplanned expenses
How to really save for unplanned expenses.
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What is an IOLTA and how does it work?
Managing client funds is a critical responsibility for law firms, and at Redwood Credit Union, we offer IOLTAs (Interest on Lawyers' Trust Accounts) to help law firms securely hold these funds while complying with legal requirements.
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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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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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Savings Transfers Update
Thanks to recent federal regulation changes, online transfers and withdrawals from savings and money market...
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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