April 17, 2020 -
The IRS is currently in the process of distributing stimulus payments as part of the Economic Impact Payment program. Many members have seen these deposits already in their accounts, and many members can expect to see them in the near future.
We wanted to share with you some updates in regard to the Stimulus Checks:
- Stimulus checks are currently being deposited via direct deposit only.
The direct deposit represents the early stages of the program. Paper checks will be mailed at a later date.
- You can check the status of your payment.
The IRS has established a website to check the status of your payment. For more information, click here.
- Vermont Federal Credit Union will not use your stimulus payment to offset delinquent debt.
As a member-owned credit union, and due to the unique nature of the stimulus checks, we will not use your stimulus payment to offset any delinquent debt. However, for some members this could represent an opportunity to reduce outstanding debt and we would welcome the opportunity to speak with you about your individual situation. Please contact us at (802) 923-1180 to discuss how we may be able to assist you.
- Beware of Stimulus Fraud.
There are a number of reports about malicious criminal behavior in regard to the stimulus. As a reminder, do not share any personal information and do not click on any suspicious links.
- We recommend Mobile Deposit for paper checks.
Once the paper checks begin arriving in the mail, we would recommend utilizing our Mobile Deposit feature as it will represent the fastest and safest way to deposit your stimulus check. For information regarding how to use Online Banking services, please click here.
During this unprecedented time, the safety and well-being of our staff, members and community remain our number one priority. We are here to help. If you have any questions about the Stimulus Payments, or any other topic, please contact us at (888) 252-0202.