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For all that you love (scheduled 2)
Redwood Credit Union offers a variety of products and services that are designed with one thing in mind—you. RCU is here to help you on your financial journey every step of the way. Love where you bank.
Featured products and services
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3/1 ARM Mortgage
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Certificates w/active checking
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Achieve your financial goals
Whatever your financial goals are, RCU is here to help with free resources to get your planning started.
Built on love
RCU serves over 360,000 of your friends, family, and neighbors. See what they have to say.
Love my credit union. Great mortgage products, numerous locations, easy phone banking, great online services.
$4.1 Million Donated
Through sponsorships, grants, fundraising, and volunteer hours.
$201.2 Million to Businesses
Since 2020, RCU has funded 3,882 PPP loans. So far, $197.9M of those loans have been forgiven and returned to businesses.
309,391 Lives Impacted
Through grantmaking to organizations throughout our communities.
Achieve your goals and dreams–it’s possible.
We’ll be by your side with banking, lending, and financial advice, for all that you love.
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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