2016: A Look Ahead
December 30, 2015
A Message from RCU’s President & CEO Brett Martinez
As we welcome 2016, I’m happy to share with you some of the exciting plans we have for the coming year to bring you improved service, value and convenience. We want to make banking easier so you have more time to enjoy the things you love.
We will continue enhancing our branches to better meet your needs, with a fresh new design, including interactive tablets for quick and easy access to accounts, information and education, plus more collaborative spaces to meet with our tellers and representatives—not only for everyday transactions, but for all your financial needs, from loans and credit cards to insurance and wealth management.
In the spring, we’ll move our Mendocino Avenue branch just a few blocks away to a larger location with more convenient parking. We will also add another Marin location in Mill Valley. Mid-year, we’ll begin improvements to our Petaluma branch.
We’ve made improvements to RCU Insurance Services, including the addition of knowledgeable local representatives who can meet with you and assist you with policies from a wide variety of top-rated insurance carriers to protect the things you love.
The security of your accounts continues to be a top focus. We are issuing chip enabled credit and debit cards to all RCU cardholders for added protection against retailer and processor data compromises, as well as supporting “electronic wallets” such as Apple Pay for increased security. We’ll also continue to make enhancements to online and mobile banking to make it easier than ever to manage your accounts, make payments, and access the financing you need.
All these exciting developments are based on your feedback and requests. We listen to our Members so we can improve to serve you better. We want to make your banking and financial transactions simple, convenient and helpful, to save you time and help you succeed. I encourage you to give us your feedback, participate in the surveys we periodically send out, and please continue to let us know how we’re doing and how we can help.
I wish you a happy and financially healthy new year!
Best regards,
Brett Martinez
President & CEO
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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