Archive for March 2021

Third Round of Economic Impact Payments Information

Last Updated 03/19/2021 – 4:05 PM

Carolina Federal has been informed that financial institutions could start receiving the second wave of EIP3 via ACH on Friday, March 19, with an effective date of Wednesday, March 24.

Unfortunately, Carolina Federal Credit Union does not have information regarding missing payments, as we process the payments provided to us by the IRS. The IRS is sending them in batches over the coming weeks, and not all members will receive their funds simultaneously. If you expect a stimulus payment and have not received a deposit, we encourage you to visit IRS.gov for more information. 

 

Last Updated 03/15/2021 – 12:02 PM EST

The Internal Revenue Service and the Treasury Department will begin delivering the third round of Economic Impact Payments as part of the Coronavirus Response and Relief Plan to millions of Americans who received the first two rounds of payments.

ACH files will be sent by the Federal Reserve to financial institutions between March 12-14 (with the potential deposit date of March 17th), with additional ACH files to follow in subsequent weeks. Paper checks will begin being issued the week of March 15th, with check volumes expected to be smaller overall than in prior rounds due to an anticipated larger share of electronic payments.

People can check all payment statuses using the Get My Payment tool, available in English and Spanish only on IRS.gov. The tool is being updated with new information, and the IRS anticipates the tool will be available again in a few days for taxpayers.

Members can check their CFCU account balances via Carolina Online (Mobile Banking) on our website or through the app, or by our automated phone system, Carolina Teller (see more information below). If you would like to speak to a CFCU staff member, please send us an email at memberservice@carolinafcu.org, or if you prefer to call, please be aware that wait times when calling or visiting our branch may take longer than usual. 

Unfortunately, Carolina Federal Credit Union does not have information regarding missing payments, as we process the payments provided to us by the IRS. The IRS is sending them in batches over the coming weeks, and not all members will receive their funds simultaneously. If you expect a stimulus payment and have not received a deposit, we encourage you to visit IRS.gov for more information. 


Thank you in advance for your patience as we navigate the third round of Economic Impact Payments. We understand how important these funds are to you and your family during this time and will post them via direct deposit once we receive them. Thank you for being a member!


Carolina Federal Credit Union Team

The additional services listed below are available 24/7/365 to check your CFCU account balances:

  • CO-OP and CashPoints® ATMs – 30,000 ATMs means you have more direct, surcharge-free* access to your money, Find a location near you.
  • CFCU Mobile App and Carolina Online – the mobile app and Carolina Online can be used to securely move money between accounts, see account balances, make bill payments, and more.
  • Carolina Teller – access your account from your telephone anytime by calling 1-800-378-1955. Check your balance on accounts, verify account transactions, transfer funds, check loan payment and payoff status, and more.
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