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Important Notifications

Branch Services Notification

Hours and service availability are updated regularly based on regional conditions. Please visit our branch services page to plan your visit.

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COVID-19 Member Resources

Get the latest information on our service options and resources for financial challenges.

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Small Business & Commercial Real Estate Relief

Payment relief during uncertain times

WSECU understands the challenges many small businesses and commercial real estate owners are facing right now, and we’re providing options to help.

Small business payment relief options

Skip-a-Pay — We’re working hard to make this benefit, which enables you to skip your next payment, available as soon as possible through our automated system. Until then, you can contact our small business team to get started.

Small Business Emergency Loan — We’ve created a special loan * to help our small business members with their financial needs.

  • 6% fixed APR
  • Loans up to $10,000
  • Repayment terms up to 36 months
  • 90 days before first payment is due

*Annual percentage rate. Must be an existing WSECU member as of Feb. 1, 2020. Loan amount based on maximum gross monthly income. Standard underwriting rules and conditions apply.

SBA Paycheck Protection Program

WSECU has been approved by the Small Business Administration (SBA) to be a Paycheck Protection Program (PPP) lender. After a brief pause, we are now accepting applications again.

  • WSECU members who opened business accounts with us prior to February 15, 2020 are eligible to apply.
  • Applications are being accepted and reviewed on a first-come, first-served basis through August 4, 2020.
  • We cannot guarantee federal funding will continue to be available, and we cannot guarantee the SBA will approve all loan requests.
  • As a brand-new lender to this program, we ask for your patience and understanding while we work through the process and turnaround times.
  • If you need immediate funding, you may want to consider a small business emergency loan. (Note: this is different from PPP.)

Paycheck Protection Program loan overview

  • Available for small businesses with fewer than 500 employees
  • Need for funds must be tied to current ecoomic conditions
  • 1% fixed interest rate
  • Five-year repayment term
  • Six-month payment deferral (interest continures to accrue)
  • May be eligible for loan forgiveness if certain criteria are met.
  • Restrictions apply. See U.S. Treasury PPP FAQS for full details and disclosures

How to apply

  • Please apply through our online loan application.
  • We're reviewing applications in the order received and will send the required documents to complete along with a secure link to upload and send the completed documents to us.

Small Business Administration Paycheck Protection Program Loan Forgiveness

  • The application process for loan forgiveness will open no earlier than Aug. 1 2020.
  • Please carefully review the SBA's rules regarding loan forgiveness. It is the responsibility of the borrower to understand these rules.

Getting Started

Review the SBA's Loan Forgiveness Application Instructions for Borrowers.

Document your eligible payroll and non-payroll costs as outlined in the application instructions. Here are some quick tips:

  • Use the 24-week Covered Period or Alternative Payroll Covered Period.
  • If you were funded before June 5, 2020, you can choose to use an 8-week or 24-week Covered Period or Alternative Payroll Covered Period:
    • Covered Period starts the day loan funds were deposited into your WSECU Business Checking account.
    • Alternative Payroll Covered Period starts the first day of the first pay period following deposit of loan funds.

Eligible payroll costs include:

  • Employee compensation
  • Cash tips
  • Payment for leave
  • Employee benefits

Eligible non-payroll costs include:

  • Interest payments on mortgages
  • Rent payments on leases
  • Utility payments

There are two application forms available:

To determine eligiblity for the simplier 3508EZ, review the SBA's 3508EZ checklist. If you need to use the 3508 application form, please complete the PPP Schedule A worksheet (included in the 3508 form) prior to submitting your application with us. If you have a payroll provider, request a payroll report.

Check back here for updates on the opening of the application period.

Commercial real estate payment relief options

Our Commercial Loan Officers are here to work with you to find options that best meet your specific needs. Options may include **:

  • Payment deferral
  • Interest-only payments
  • Loan modification

Please send a request to our Commercial Lending team to get started.

**For consideration of these options, members and guarantors will be required to provide current financials and answer questions explaining how they have been impacted by COVID-19. Other conditions may apply.


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Get the latest information on COVID-19 service changes, branch appointments, financial resources and more.

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