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A Passion for Service
Credit unions were created with a focus on people over profit, and this...
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11 Ways to Stretch Your Stimulus Check
Stimulus checks are hitting bank accounts all over the nation. Many will put that extra money...
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2020 Year End Market Review
As the nations of the world work towards normalcy after a harrowing year, stock markets, employment, and production should also advance.
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Unemployment Benefit Scam
Thanks to so many people being out of work due to the coronavirus, a current...
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New! Sub-users for Business Accounts
Great news for business owners: You can now...
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RCU Auto Services Has a New Website
We’re excited to announce that RCU Auto Services (RCUAS) has a new website! The URL...
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Savings, Money Market, Certificates – Where does your money belong?
A recent study by bankrate.com shows that nearly 30% of Americans have more credit card debt...
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Your Reverse Mortgage Questions Answered
In 2007, RCU created a strategic partnership with Alliance Reverse Mortgage to ensure our members...
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2016: A Look Ahead
A Message from RCU’s President & CEO Brett Martinez Happy New Year! As we welcome...
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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