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Bank Securely at Home

March 20, 2020

Our online banking and mobile app give you secure, 24/7 access to your accounts. If you haven’t yet embraced remote banking, here are seven great reasons to begin:

    1. Pay bills online. Most payees are compatible with RCU Bill Pay.
    2. Review your account activity and know your up-to-date balances.
    3. Deposit checks quickly and securely with our mobile app.
    4. Transfer funds between accounts easily. You can transfer between your RCU accounts, as well as between RCU and your accounts at other institutions.
    5. Save money. No cost for stamps or checks and you save on gas.
    6. Save time. You can bank whenever and wherever you want.
    7. Send money to people you know and trust in just a few clicks using RCUpay.

Remote banking is extremely safe. RCU uses sophisticated encryption technology to ensure safety and privacy. (Just be sure to guard your login info and PIN number.)

To start banking from the comfort of home (or wherever you may be), here’s how to sign up:

    • Online banking: Visit redwood.bloomcudev.com On the left side of the home page, you’ll see Log in to Online Banking. Below that, select Enroll Now and be prepared to enter your account number and the last four digits of your Social Security number. Follow the last few prompts, including setting up username, password, security questions, and image. In a few minutes, you’re done!
    • Mobile banking: Go to your phone’s app store and search for Redwood Credit Union. Tap on the app to download.

Taking the first step to use these new tools can seem scary, but we’re here to help! Call 1 (800) 479-7928 and choose option 5 for assistance.

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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