Economic Impact Payment Information: Stimulus Checks
Apr 17, 2020
The Economic Impact payments, also known as Coronavirus Stimulus checks, have started arriving in many of our members accounts.
Here's what you need to know:
- Payments are posted to members accounts as they are received. Unfortunately, IAACU does not know the status of incoming payments from the IRS. If you're expecting a payment, keep an eye on your account by using our Online or Mobile Banking features.
- Payments are being sent in multiple batches. Payments started this week and will continue weekly until all payments have been sent. Deposit batches are posted first thing in the morning, so there's no need to check your account multiple times a day.
- If you have a payment showing as “pending” in online banking, IAACU has received notification of a future credit. Please note, this may take up to 5 business days to post to your account. IAACU has no control of the future credit date and cannot post the credit until the date that has been provided by the government.
- The IRS has created a portal to allow individuals to track their payments, If you need more information on how to receive your payment, visit the IRS Economic Impact Payment Information Center.
- Don't forget when setting up direct deposit for your IAACU accounts, be sure to use IAACU's routing number — 271176116 — and your MICR (account) Number This differs from your member number and can be found online and in mobile banking,or at on the bottom of your checks.
- To find it online or in mobile banking, click or tap on your account and then click or tap on “Details” or “Account Details”.
- At the bottom of your check, the account number follows the routing number and may be preceded by several zeros. Do not include any spaces or dashes when entering your MICR number.