Relief is on the Way

Stimulus Relief

What you Should Know

The U.S. government is sending a second round of stimulus payments to help Americans manage financial challenges created by the COVID-19 pandemic. We are here to help you navigate the process as best we can. Please know information is not shared with us directly. We know what you know and we have no control over when or how you receive your stimulus payment. 

You may already be seeing your stimulus payment pending in your account for January 4th or you may be patiently awaiting it's arrival. If you are curious as to the status of your payment, please visit the IRS website

How much will I receive?

People earning up to $75,000 will get the full $600 payment, while married couples who make up to $150,000 will receive a check for $1,200. 

Since households get $600 per child, a couple with two children could receive $2,400. 

Those who earn slightly more than the threshold will also receive a check; however, to know our status for sure, you should visit the IRS website

When will stimulus payments be sent, and how?

The timeline for sending out the payments is unclear as some have already received there payments, others can see it pending for January 4th or it remains unknown still for many. 

When stimulus payments were approved under the original CARES Act, it took about two weeks for the Treasury Department to start distributing the money.

People who provided their banking information to the IRS with their 2018 and 2019 income tax returns will likely be among some of the first to see the deposits in their accounts via direct deposit. But those who received their first round of stimulus payments by a different means, such as a check in the mail, might have to wait longer. 

If I am getting a check, how can I deposit it?

There are a number of ways you can easily deposit your check, including:

  • Mobile Check Deposit through our Mobile Banking App
  • 24/7 Night Drop Box at the Plattsburgh Main, Plattsburgh North or Rouses Point branches. 
  • At a location nearest you during normal business hours

You've got your stimulus check. Now what?

Focus on Essentials First

COVID-19 cases continue to rise Focus on the bills that keep a roof over your head, the lights on and food on the table. Look at essentials such as groceries, utilities, and your home. If your primary need is groceries, meals you can cook at home are usually less expensive than pre-made or microwaveable meals. It’s also recommended to only buy the food that you need each week to reduce the amount of waste.

If you’re trying to get caught up on bills, are there assistance programs or deferment opportunities you can utilize? When it comes to credit cards and debt, pay only the minimum balance so you can continue to be in good standing. Remember many lenders, utilities and communications providers are working to waive fees, keep the power on and your internet working. 

Talk With Us

We're offering skip-a-pay on your UFirst loans, loan modifications and a relief loan so you can use your stimulus money for more critical needs. 

Look to Save it

If you set aside even $100 or $200, that can provide a cushion for bills that are coming due in a couple of weeks. For those in a more financially stable circumstance, use your stimulus money to build up your savings. Set up an emergency fund that you can fall back on for those unexpected costs, like car or home repairs. We offer sub accounts within your UFirst account that can help you with that. 

Don't Hoard Cash

Keep your money in the credit union. It's safest there. Your funds are protected by the National Credit Union Association (NCUA) for up to $250,000. 

Protect Yourself From Scams

Refer to the information above. There are lots of bad guys out there trying to use this crisis to get at your money. Watch for suspicious emails, texts or phone calls. If you're not sure, contact us.

Debt Management

You can also use your stimulus money to start a debt management plan through GreenPath Financial Wellness. With a debt management plan you may:

  • Stop collection calls
  • Lower interest rates
  • Lower monthly payments
  • Waive late fees and over-limit fees

The Credit Union has partnered with GreenPath Financial Wellness to offer financial relief resources to our Members. No matter what your individual circumstance is, GreenPath is ready and able to offer:

  • Free-of-charge financial and debt planning services, Phone: (877) 337-3399
  • Student loan counseling
  • Financial webinars
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