COVID-19 Stimulus Checks
Economic Impact Payments
The CARES Act
On March 27, the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion stimulus package aimed at assisting individuals, states and businesses affected by the coronavirus (COVID-19) pandemic, was signed into law.
The legislation will expand unemployment aid, offer billions of dollars in loans to both small and large businesses, and send $100 billion to hospitals on the front line of the pandemic.
Economic Impact Payments (COVID-19 Stimulus Checks)
A highly anticipated component of the CARES Act is a direct cash payment to millions of Americans. Eligible taxpayers could receive a payment of up to $1,200 for individuals, or $2,400 for married couples. Parents may also receive up to $500 for each qualifying child.
For details about the arrival of the checks, what your payment could be, and whether or not you're eligible to receive one, visit the FAQ on the IRS's site.
BECU Account FAQ for Stimulus Checks
For answers to questions about the payments with regard to your BECU account, please read the following:
General FAQ for Stimulus Checks
General questions and answers around the Economic Impact Payments (stimulus checks).
Protecting Yourself From Fraud
Unfortunately, fraudsters are using the pandemic as a way of taking advantage of people. Stay informed about the scams we're seeing so far:
- Mobile Deposit - Read step by step instructions or watch a video on how to deposit a check from the BECU Mobile App.
- COVID-19 Stimulus Checks - What you need to know (BECU Blog Post)
- BECU financial educator Stacey Black shares 5 tips for using your stimulus check. (YouTube Video).
- Planning During Financial Uncertainty (BECU Article)
Whether due to COVID-19, job loss, or other unexpected economic events, there are steps you can take to help you through whatever comes your way.
- Greenpath Credit & Debt Counseling
GreenPath's certified experts can help with managing a variety of financial challenges. It's a free service available for BECU members.
- COVID-19 Resource Page
Learn more about what BECU is doing to ensure your safety and continued access to financial funding and resources.