Blog
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Setting Retirement Goals and Planning for Tax Time
In general, Americans aren’t saving as much as we should. And when it comes to...
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Frequently Asked Questions about ATMs
Credit unions are cooperatives that are owned by their members. Each member has an equal...
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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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Guidelines for a Grocery Bill You Can Stomach
While all nonessential shopping should be put on hold when you’re facing a financial crisis,...
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7 Reasons to Go Paperless
Going paperless is good for the environment and it’s good for your budget, too! Here...
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Credit Union Youth Month
April is National Credit Union Youth Month! Created to encourage young people to develop healthy...
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There’s a Way to Love Your Ride and Your Loan
Make your money go further when you finance an auto loan with RCU. The road...
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Block Spam, Scams, and Robocalls
Who’s calling?! Behind most unwanted phone calls is a scheme to separate you from...
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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