Third Round of Economic Impact Payments
On Thursday, March 11th, 2021 President Biden signed the $1.9 trillion COVID-19 Economic Relief Package into law. The Internal Revenue Service will begin distributing a third round of economic impact payments (stimulus checks) via direct deposit to people with account information on file as early as next week. Payments will be in the amount of $1,400 for individuals and $2,800 for married couples who meet certain income criteria. There may also be a $1,400 payment for each dependent living in the household.
We are unaware of who will receive payments and when. The easiest and fastest way to check for your economic impact payment is through Home Teller (online banking). Home Teller offers real-time information on deposits and withdrawals. Electronic IRS direct deposits post Monday through Friday, first thing in the morning. They will not post on weekends or bank holidays.
If you do not have direct deposit information on file with the IRS, you should receive a paper check in the mail. Paper checks may go out later than direct deposit. You can track your stimulus check on the IRS website through the Get My Payment tool.
Please note: As of Friday, March 12th the Get My Payment tool is not available on the IRS website, but we anticipate it will be activated soon.
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. Please remember to never give out bank account information, social security numbers, etc. over the phone.
Be aware that when deposits begin, we expect longer wait times in the drive-thru and high phone call volume. Also, to continue to keep our lobbies open, we ask that members adhere to social distancing guidelines and members must wear masks to enter a branch location. If members are unable to wear a mask, please utilize our drive-thru and online and telephone banking.
We thank you for your patience during this unusual time. We remain centered on serving our members knowing we have a responsibility to keep members and employees healthy.
For more information regarding economic impact payments, please visit the IRS website.