Economic Impact Payments 2021

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Generations FCU will process and post Economic Impact Payments as they are received from the IRS. No further action is required on your part to receive payment. The IRS payment status tool is the best place to check the status of your stimulus payment.

Our representatives do not have information on when your payment is expected to be received. Due to high call volumes, you may experience extended hold times when contacting GFCU.

The Internal Revenue Service (IRS) has begun processing Economic Impact Payments to Americans as part of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Stimulus checks are being issued over the coming days. No further action is required by eligible individuals to receive payment.

  • The IRS will issue payments in waves. Not everyone will receive theirs at the same time. If you have not received your relief payment yet, there is no cause for concern. The IRS payment status tool is the best place to check the status of your stimulus payment.
  • If you meet the qualifying requirements, your payment will be deposited directly into the same bank account that you designated for tax filing purposes on your tax return. If you received a tax refund by check through the mail, the IRS will mail your stimulus check to the physical address on file.
  • If a tax preparer filed your tax return, the preparer may receive and redirect your stimulus payment to the GFCU account designated on your tax return.
  • Answers to many payment status questions can also be found on the IRS Coronavirus page.
  • If you’re registered for GFCU Online and Mobile Banking, your balance will reflect stimulus payments credited to your account. You may set up alerts to notify you when a deposit is received.

Economic Impact Payments for Closed Accounts
Economic Impact Payments received for closed, charged-off or deceased member accounts will be returned to the IRS for alternate delivery. Please use the IRS payment status tool to track further action on these types of accounts.

Sign Up for Online Banking
If you haven’t already, now is a great time to register for Online Banking and download the GFCU Mobile App so that you can know as soon as your relief payment becomes available. GFCU will process and post your funds as soon as they are received from the IRS. Additionally, if you are receiving your relief payment by mail, you can deposit the check easily using Smart Deposit on the GFCU Mobile App.

Guard Yourself Against Scams 
Stay vigilant about protecting yourself and your money from criminals who want to get their hands on your relief check. Since many people are eager to learn when and how they will receive their check, scammers are taking advantage of the situation by posing as government agencies or organizations involved in the disbursement of the money. Please know that GFCU will NEVER ask you for personal information such as your social security number, PIN or account number via call, text or email. You can read more about other COVID-19 related scams here.