Please continue to monitor this page as we will be making periodic updates as the situation evolves.

ECONOMIC IMPACT PAYMENTS

Earlier this month, the American Rescue Plan Act of 2021 was officially signed into law. As part of the package, Economic Impact Payments were approved and will be distributed by the Internal Revenue Service to eligible members as early as March 15, 2021. REV does not have any information regarding missing payments, as we simply process the payments provided to us. Please note not all members will receive their funds at the same time.

If you are expecting payment and have not received a deposit, we encourage you to visit IRS.gov for more information.

Members are reminded that neither REV Federal Credit Union or the U.S. Federal Government will reach out to you regarding your anticipated stimulus relief check. For additional information or to learn about your eligibility please visit the official U.S. Department of Treasury website.

A pending payment means that REV has received an ACH notice from the I.R.S. that your funds are on the way. Once REV receives the funds, they will become available in your account. 

Eligibility is determined by the Internal Revenue Service and based on several factors to include your adjusted gross income (AGI) not exceeding:

  • $150,000 if married and filing a joint return
  • $112,500 if filing as head of household
  • $75,000 for eligible individuals using any other filing status.

Please visit IRS.gov for a full list of eligibility. 

Economic Impact Payments to eligible members will begin posting to REV accounts as early as March 15, 2021. Please note not all members will receive their funds at the same time. Payments are distributed in phases by the Internal Revenue Service.

Payments may be received either as a Direct Deposit or in the form of a Paper Check. The method in which you receive your funds is determined by the Internal Revenue Service.

The Economic Impact Payment amount is determined by your filing status as outlined by the Internal Revenue Service. Please visit IRS.gov to learn more. 

RECEIVED A PAPER CHECK?

No problem! Members that receive a Paper Check are able to deposit the funds to their account by using the Remote Deposit Capture feature within REV Mobile Banking. Just follow these quick and easy steps:

  1. Log-in to Mobile Banking
  2. Select the “Check Deposit” icon
  3. Endorse the back of your check
  4. Take a picture of the front & back of your check

Not enrolled in Digital Banking? REV Digital Banking is available for both Android and Apple devices. Visit the Google Play or App Store to download the free app.

CARES ACT ECONOMIC RELIEF PLAN:

At this time, REV Federal Credit Union is not a certified Small Business Administration (SBA) lender, and is unable to participate in the lending programs that are outlined by the current CARES Act Economic Relief Plan. Members seeking SBA assistance are encouraged to view the below resources for additional information and options:

https://www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act