Important Information About Economic Impact Payments

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law.  The CARES Act provides various forms of financial assistance for both American consumers and businesses struggling as a result of the coronavirus pandemic. As part of this initiative, the Federal government is sending stimulus checks (also known as Economic Impact Payments) to millions of Americans who are eligible for the program.

The Department of the Treasury intends to send the payments out as soon as possible to eligible recipients. If you filed taxes in 2018 or 2019 and included your PSFCU routing and account number for payments or refunds, and this information has not changed, the IRS has the information it needs to send your payment electronically. You should receive a direct deposit into your Polish & Slavic FCU account. This could be as soon as the middle of April, according to the Treasury Department.

Remember, you can securely access your account information anytime, anywhere with PSFCU Online or Mobile Banking.  Log into your account online  to review all of your account activity and check for the Economic Impact Payment. If you are not yet a PSFCU Online Banking user, enroll today to enjoy our convenient features and services.  

To help everyone check the status of their Economic Impact Payment, the IRS recently launched a tool that will provide the status of a payment, including the date it is scheduled to be deposited or mailed. Click on a link below to visit the IRS webpage below for all information pertaining to this topic. Their page also provides a link to their Economic Impact Payments Information Center with answers to questions about eligibility, payment amounts, what and when to expect the payment etc.

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