Economic Stimulus Payments
Economic Stimulus deposits have begun arriving. Here's what you need to know:
Great NorthWest Federal Credit Union does not control or know when the deposits will come in. They will be posted as they are received. For your most current balance information - login to your Digital Banking account or via the Mobile app to see if your funds have been deposited. Our daily deposits are posted by 10:00 AM.
When can I expect to receive my economic impact payment? For most people, you won't have to do anything - the payment will be directly deposited into your account or sent to you by check. Be aware, however, that if it's sent by check, it might take a little longer.
Do I qualify and how much will I receive? You likely qualify for an economic impact payment if: your filing status is single or married but filing separately and you make less than $99,000; your filing status is head of a household and you make less than $136,500; your filing status is married and you fle jointly and your combined income is less than $198,000; your income is above $75,000 as an individual or $150,000 as a joint filer, the payment amount is reduced by $5 for each $100; or you don't typically file taxes and receive social security benefits from the SSA.
How will the IRS send my payment? Your economic impact payment will ether be directly deposited into your bank account or a check will be mailed to you. If you're a Social Security beneficiary who doesn't need to file taxes, you'll receive your economic impact payment the same way you receive your benefits, either by direct deposit or by check. No matter how you receive your payment, the IRS will send you a letter in the mail to the most current address they have on file about 15 days after they send your payment to let you know what to do if you have any issues, including if you haven't received the payment. Information taken from Consumer Financial Protection Bureau - cfpb.com. For more information and frequently asked questions click here to visit their website.