Economic Impact Payments
As of Monday, April 13th, the Internal Revenue Service began distributing economic impact payments via direct deposit to people with 2018 or 2019 account information on file. You may see funds available in your account as early as Wednesday, April 15th. We have an understanding that deposits should continue in weekly batches from the IRS. Those who have correct direct deposit information on file from the IRS should receive their payments much faster. Just because deposits begin this week, does not mean everyone will receive an economic impact payment this week.
The IRS is in the process of developing an online tracking tool called “Get My Payment”. This tool should be available mid-April.
Not all taxpayers have direct deposit on file with the IRS. If you do not use direct deposit, you will receive a paper check on or after April 24th with initial checks being sent to lowest earners first.
The IRS is urging taxpayers to be on the lookout for scams regarding the economic impact payments. Remember, the IRS will not call, text, or email you looking for personal banking information. Also, be aware of emails with links or attachments claiming to have information regarding the economic impact payments.
We are unaware who will receive payments and when. The easiest way to check if you received a payment is to log into Home Teller (online banking). Home Teller offers real-time information on deposits and withdrawals.
Please be aware that with deposits beginning this week, we expect longer wait times in the drive-thru and high phone call volume.
We thank you for your patience during this unusual time. We remain centered on serving our members knowing we have a responsibility to slow the spread of COVID-19. Please stay home and stay healthy!
For more information regarding economic impact payments, please visit the IRS website.