New! Sub-users for Business Accounts
September 1, 2020
Great news for business owners: You can now add sub-users to your RCU business account in online banking! Sub-user access lets you specify custom controls for bookkeepers, people on your accounting team, and other trusted employees and third parties. This includes the ability to limit account access to certain days and times, set transaction limits, and provide custom permissions for the following features:
- Bill Pay
- eStatements
- Transaction history
- Stop payments
- Time and date access controls
- Internal transfers
- View current activity, electronic (ACH) transfers, and other holds
Sub-user features are also Intuit-compatible.
If you’d like to use these convenient options for your business account but are not currently enrolled in online banking, please visit Creating Sub-users for Business Accounts to learn more about these and other features, and sign up online today!
Need further assistance? Call us at 1 (800) 479-7928. We’re delighted to serve you!
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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