7 Reasons to Go Paperless
September 1, 2020
Save Trees
Deforestation is one of our biggest environmental problems. It’s estimated that today, 42% of all wood harvested globally is used to make paper. Trees give off oxygen and protect the planet from further global warming, and we need them! Signing up for eStatements will help reduce paper use. Join us in our commitment to live green.
Reduce Pollution
In 2020, paper mills are said to be producing 500 million tons of paper each year. Paper is the 3rd largest industrial polluter of air, water, and soil. And when paper rots, it emits toxic methane gas. If you haven’t already, please consider
enrolling in online banking to help reduce pollution.
Be Mobile
When you take advantage of our mobile app and all that it has to offer, your filing system is in your pocket! You can deposit checks from anywhere,
locate ATMs near you, make loan payments—you name it. Touch ID™ means only you can access the information, even if your phone or tablet goes missing.
Find Information Faster
If you need to check balances on your RCU accounts, monitor activity, check rates, or see your credit score, all of that information and more is available to you 24/7. No need to print out records; the information will be there when you need it.
Save Gas
From the safety of home, you can send money to another person via RCUpay, move money between RCU accounts, or transfer funds from
RCU to your accounts at other financial institutions. No need to drive to get things done!
More Secure
When you have printed materials containing your financial information, whether stored in your car, mailbox, briefcase, or filed away, they’re open to possible theft. Save them securely online, password protected.
Save Money
Set your bills up with RCU Bill Pay so they’re paid automatically at a certain time each month and you won’t have to worry about late
fees for payments that don’t arrive on time.
Save the planet, save money, and be safe using RCU’s electronic services. If you’d like to learn how to take advantage of any of these benefits, send us a secure message through your online account or call 1 (800) 479-7928. And if you’d
like to learn more about RCU’s green initiative, visit redwoodcu.org/green.
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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