For direct deposit into your Trailhead account, you will need to provide:
- Our Routing Number:
- Your Member Number, found on your statement or in Online or Mobile Banking
For direct deposit into your Trailhead account, you will need to provide:
In response to the outbreak and related financial impact, the $2 trillion Coronavirus Aid, Relief & Economic Securities Act (CARES ACT) was signed into law on Friday, March 27, 2020. The goal of this act is to provide financial relief for individuals, families and small businesses from the effects of the economic slowdown.
We’ll address your frequently asked questions below, targeting the benefits potentially most relevant to you.
Will I get a check?
As long as you’re a U.S. resident with a work-eligible social security number and meet the income requirements, you’ll receive payment.
How much money will I get?
If you make less than $75,000 a year (or $150,000 for married couples), you’ll receive $1,200 (or $2,400 for married couples filing jointly) — and another $500 per child under 17. Aid amounts will be based on adjusted gross income reported on 2018 tax returns, or 2019 taxes if you’ve already been filed.
Check amounts will begin to phase out for individuals whose income exceeds the $75,000 (or $150,000 for married couples) threshold. The amount is reduced by $5 for every $100 of the taxpayer’s income that exceeds the phase-out threshold, and is completely eliminated for single filers with incomes over $99,000, $146,500 for head of household filers with one child, or joint filers with incomes over $198,000 with no children.
Use this calculator to estimate how much you might receive.
When will I get my check?
If we’re being optimistic, some time around mid- to- late-April. Though historically, the time it takes for the federal government to issue stimulus checks has been closer to six weeks or more.
Will the check be sent through the mail or direct deposit?
That depends. Have you received direct deposit tax refunds in the past? If you’ve already provided your bank account information to the IRS for tax refund purposes, the payment will go straight to your bank account. If not, there’s still time to register your 2019 tax refund for direct deposit. Otherwise, you will receive your check in the mail.
Do I have to fill out anything to get the check?
You already did. The IRS will base your payment on the information listed on your 2018 tax return (or 2019 return if you’ve filed it already). As long as you’ve filed taxes within the last two years and your information is up to date, there’s no need to do anything at all.
How does this affect my 2019 tax refund?
The stimulus payment will not affect your refund for the 2019 tax year in any way.
Can I still take advantage of the extended tax deadline?
Absolutely. If you’ve decided to wait until the extended tax deadline (July 15) to submit your 2019 taxes, the IRS will reference your 2018 tax return to determine your tax stimulus eligibility and how much to send you.
Will I be taxed for this later?
No. This is not taxable income. Technically, it’s just an advanced payment of a tax credit for the 2020 tax year.
Will college students living at home get a check?
If a young adult has been claimed as a dependent on tax returns from the last two years, they will not receive a check.
Will senior citizens get checks?
Retired seniors will receive checks as long as they fall within the income parameters and are not listed as dependents on someone else’s return.
What if my check never arrives?
If you qualify for payment, you will receive a notice in the mail with information about where and when the government will send your check. Hold on to that notice. It will have information on it regarding how to contact the IRS in case your payment never arrives.
What if I moved recently?
If you’ve changed addresses since your last tax return, submit a change of address form as soon as you can. Even if you’re receiving your payment through direct deposit, the Treasury will send the payment notice to your last known address.
Some people say you should withdraw cash to protect yourself during the Coronavirus outbreak. Here are four reasons withdrawing extra cash may actually be your worst possible move right now:
(Source: stcu.org)
Yes, your money is safe and secure at Trailhead. Your funds are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), a division of the National Credit Union Administration (NCUA). IRA accounts are insured separately up to $250,000.
There are a variety of ways to access your everyday member services, without coming into a branch:
Trailhead remains committed to serving our members during this challenging time. Please call if you need any assistance.
Many of our members may be impacted through lost wages and lost sales due to Coronavirus. If you need assistance with your loans, please reach out (call 503.220.2592 or send a secure message through Online Banking) so we can work with you on a solution. Depending on your situation, we have a couple of ways that we can help meet your needs. The options include:
You may have been hearing a lot about Fed rate cuts on the news and wonder how that impacts your own accounts. Theses changes impact a few things at Trailhead:
Yes, Trailhead will reopen all three branches and go back to business as usual when the social distancing orders are lifted and we feel it is safe for our employees and members. We are temporarily limiting in-branch foot traffic to reduce the spread of Coronavirus. We take the recommendations of state and federal health officials very seriously and are doing our part to protect our employees and community.
We are here for you as we always have been. Your deposits are safe and federally insured up to $250,000 by the NCUA. Trailhead remains in a strong financial position and will continue serving our members as we have since 1934. We’re not going anywhere and we will get through this together.
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