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New COVID-19 Relief Package

New COVID-19 Relief Package

Legislators have passed a $900 billion relief bill, which includes a second round of stimulus checks and a renewed Paycheck Protection Program. SCCU is working with the appropriate government agencies and monitoring news reports. Relevant information regarding stimulus payments and the PPP will be posted to our website.

  
For information regarding your stimulus check, the IRS is your best source of information.  We anticipate that the IRS will continue using its information center, where you can confirm eligibility, payment amounts, update your direct deposit information and check payment status. Please do not call SCCU because we do not have access to the status of your stimulus checks, which are coming from the IRS. You may monitor your SCCU accounts for deposits using online and mobile banking, and schedule online banking alerts.

We are now accepting new Paycheck Protection Program applications. Click her to learn more and apply. For information regarding the PPP, the SBA is your best source of information.

 

Frequently Asked Questions

SCCU is depositing stimulus payments upon receiving them from the IRS, which is sending them in batches. If you wish to check the status of your payment, you may visit IRS.gov.

No, Space Coast Credit Union will immediately post direct deposit payments as soon as we receive them. Paper stimulus checks deposited will not have a hold placed.

If you receive a paper check from the IRS, you may deposit it using the Mobile Deposit feature through the SCCU Mobile app or by visiting an SCCU branch or ATM.

  • Check your SCCU account using Online Banking or the SCCU Mobile app
  • Create an account alert in Online Banking for deposit notifications
  • Check the status of your payment on the IRS website
  • If the funds are not in your account, you must contact the IRS directly

Please visit the IRS website for the most up-to-date information about economic impact payments.

If you’ve closed your SCCU account, we will return the funds to the IRS. However, you may update your direct deposit information with the IRS directly by visiting their website.

Since your stimulus check will be delivered by the IRS and not SCCU, we encourage you to visit the IRS website for more information and updates.

The IRS emphasizes that there is no action required by eligible individuals to receive this second payment. According to government officials, all stimulus checks are being processed and will be distributed. Using the data already in their systems. Taxpayers with direct deposit information on file will receive the payment that way. For those without current direct deposit information on file, they will receive the payment as a check or debit card in the mail. You may monitor your accounts for direct deposits using online and mobile banking, or by using telephone banking.

Your payment information cannot be changed. If you don’t get a payment and you are eligible to receive one, it may be claimed on your 2020 tax return as the Recovery Rebate Credit.

Authorized by the newly enacted COVID-relief legislation, the second round of payments, or “EIP 2,” is generally $600 for singles and $1,200 for married couples filing a joint return. In addition, those with qualifying children will also receive $600 for each qualifying child. Dependents who are 17 and older are not eligible for the child payment.

If you do not receive your payment, it may be claimed on your 2020 tax return as the Recovery Rebate Credit.


For more information and answers to Frequently Asked Questions, please visit the IRS’ Economic Impact Payments Information Center.

Click here for the most current article on the Second Stimulus Payments from the IRS.