News
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Redwood Credit Union Offers Service with Social Impact for Members and Communities
Article published by CardRates.com: June 5, 2023 Written by: Mike Senecal, CardRates.com Edited by: Lillian Guevara-Castro, CardRates.com In...
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We’ve Launched a Podcast
Join Brett Martinez, Redwood Credit Union’s President & CEO, in a new podcast series where...
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Nonprofit Grant Recipients
Redwood Credit Union has provided the following local nonprofits with grants to assist the immediate...
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International Credit Union Day
Thursday, October 15 is International Credit Union (ICU) Day, and this year’s timely theme is...
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Give the Gift of Financial Knowledge
We’re now well aware of how important it is to be prepared for whatever may...
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Our Small Businesses Make a World of Difference
You can make a difference too – Show your love for local, today and every...
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Mobile Wallet
A mobile wallet is an app on your mobile device that stores payment information so...
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Does Your Insurance Cover Your Current Needs?
It’s a good idea to review your insurance policies each year to make sure they...
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Redwood Credit Union Gives $800,000 to Support Immediate Coronavirus Relief Efforts
Santa Rosa, CA – In response to the unprecedented economic, health, and community wellness impacts of...
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Questions about Auto Loans? We Can Steer You in the Right Direction.
Cars come in many makes, models and colors, and options for auto loans are plentiful. If...
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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