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Selecting the Ideal Business Credit Card
As a small business owner, choosing the right credit card for your business is essential....
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Tips to Thrive During Small Business Month
Let’s explore how you can maximize this month to boost your business.
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What’s the Difference Between Business ACH Services and Wire Transfers?
In this article, we'll break down the differences between Business ACH services and business wire transfers to help you decide which method best fits your business needs.
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The Benefits of Connecting QuickBooks to Digital Banking
Here are six reasons why we recommend this to our Business Members.
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Top Year-End Investment Tips
Top Year-End Investment Tips Just what you need, right? One more time-consuming task to be...
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Establishing a Financial Safety Net
In times of crisis, you don’t want to be shaking pennies out of a piggy...
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October Market Recap
The Markets (as of market close October 31, 2022) October saw stocks close higher, the...
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Social Security Scams
Like the ever-popular IRS Scams, Social Security scams are prevalent. And like most scams, they...
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Enjoy Your Staycation and Your Car
As you start thinking about your summer adventure and perusing airline tickets, hotels, and rental...
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Coming Soon – A New and Improved Site, Just for You!
We’re always listening to your feedback to help us improve your banking experience, and we’re...
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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