We know some members continue to face financial challenges during the COVID-19 pandemic. We’ve gathered a few updates that could affect your financial well-being.
Stimulus checks arriving in accounts, mailboxes
The IRS started sending out a third round of economic impact payments (EIP), also known as stimulus checks, in March 2021. Payments are arriving by direct deposit into the same account you used to file a tax refund, or by mail as either a check or debit card.
Financial institutions don’t know when the federal government will deposit these funds or if you’re eligible to receive them. If you haven’t received your stimulus funds, check the IRS’ Get My Payment tool for the status.
Eviction moratorium extended
The Centers for Disease Control and Prevention (CDC) has renewed a national halt to evictions because of non-payment of rent due to COVID-19 through June 30, 2021.
Unemployment benefits extended
The latest round of stimulus relief includes an extension in unemployment benefits with an additional $300 per week Pandemic Emergency Unemployment Compensation boost through September 4, 2021.
The North Carolina Department of Commerce Employment Security Division has more information on filing and claiming COVID-related unemployment benefits.
Federal student loan repayments temporarily on hold
Through September 2021, federal student loan borrowers are not required to make payments. In addition, the U.S. Department of Education won’t continue with collections against borrowers already behind on payments through September 30, 2021.
LGFCU continues to help you manage your money
To help you reduce the cost of financial services, the Credit Union removed fees associated with BillPay transactions and removed the limits related to transferring funds between your LGFCU deposit accounts.