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COVID-19 Resource Center: Find up-to-date information about our 24/7 remote-based services, branch hours/appointment scheduler, financial assistance options, scam alerts, and safety guidelines. Learn more.

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March 12, 2021 Update: COVID-19 Stimulus Payments

Am I eligible to receive a stimulus payment, and how much will I get?

Individuals earning $75,000 or less will receive a payment of $1,400, as will heads of households earning up to $112,500. Couples earning $150,000 or less will get $2,800. Payments to those earning more than those amounts will decrease and cut off completely for individuals earning more than $80,000, couples earning more than $160,000, and single parents making more than $120,000. Qualifying parents of children will receive an extra $1,400 per child. That means a married couple with two dependent children may receive $5,600. Also for this round, dependents include 17-year-olds, as well as college students, older adults and children of all ages with certain disabilities who are claimed on tax returns.

The payments will be based on information from a taxpayer’s 2019 return, or their 2020 return if it has already been filed.

Will Lafayette Federal know when I am scheduled to receive my stimulus payment?

No, those payments are issued by the IRS, not Lafayette Federal. You can visit the Get My Payment site at IRS.gov for more details, including the status of the payment, and a link to many frequently asked questions.

How will I get my payment?

The IRS will automatically issue your payment via direct deposit to the bank account it has on file based on information you provided on your tax return. Electronically generated direct deposits are typically the first to go out.

If the IRS does not have direct deposit information, you will be mailed either a paper check or a debit card to your address on file with the IRS. You won’t be able to choose between a paper check or the debit card. In fact, some people who received a check in an earlier round of payments could receive a debit card this time, and vice versa. The IRS says to carefully check your mail, so you don’t accidentally throw out the check or debit card out. Paper checks will arrive in a white envelope with the U.S. Department of the Treasury seal at the upper left side. The debit cards will arrive in a white envelope that prominently displays the U.S. Department of the Treasury seal, and the envelope will also state "Not a bill or an advertisement. Important information about your Economic Impact Payment.”

It will likely be several days to weeks for mailed paper checks or debits cards to arrive.

The IRS will send you a paper notice in the mail within few weeks after any payment is sent. It will include information about in what form the payment was made and where it was sent.

If you received your payment by mail in the first two rounds, it is recommended that you include your direct deposit bank account information on your 2020 tax return if you are expecting a refund. It is also recommended to file your return as quickly as possible. While there is no guarantee, this could lead to you receiving your next stimulus payment electronically.

What if I’m on Social Security and don’t need to file a tax return?

Your payment will be deposited directly to the bank account where you automatically receive your Social Security payment. A stimulus check will be mailed to you if you normally receive a paper check for your Social Security payment.

Someone I know already got their payment, why don’t I have mine yet?

Not all payments will go out at once. During the first two rounds, electronic payments were the first to be made, but they were staggered and were not all released at the same time. Checks and debit cards were the next to be sent and they are dependent on regular mail delivery. The whole process is likely to take several weeks.

How will I know when my federally issued electronic payment arrives?

You can check your bank account at any time of the day or night, using your mobile banking app or online banking. You can also set up an alert via your mobile app or online banking that will notify you via text or email as soon as a direct deposit has been made.

How can I deposit my stimulus check if I receive it by mail?

Your fastest option will be to use your smartphone or tablet and our mobile banking app to make a deposit at any time.

Mobile deposit is easy, just:

  • Make sure to endorse your stimulus payment paper check – label the back of your check "For LFCU Mobile Deposit Only” and sign.
  • Open your mobile banking app and select ‘Deposits’ from the menu.
  • Select ‘Deposits’, chose the account you want to deposit the money into, then enter the amount of the check.
  • Next, hold your phone over the front of the check and follow the on-screen prompts to snap a photo. Repeat the same steps to photograph the back of your endorsed check.
  • Once the images have been captured, and you have verified that everything is correct, click 'Deposit’.
  • The Deposit Pending screen will appear with the account you selected and amount of the check. Funds are normally received within two business days. Please keep your paper check for 60 days from the date you transmit your check. Return later to view your deposit status.

Other deposit options include visiting a branch or using an ATM that accepts deposits.

How soon will I be able to access the money deposited into my account?

Please visit our Disclosures Page and reference our General Availability Schedule under Membership > Funds Availability Policy. You can view the status of your stimulus deposit through online banking or your mobile banking app.

How does the debit card work?

If you receive the Visa debit card, which is managed by Money Network Financial LLC and has the name MetaBank on the back, you can visit EIPcard.com for information about how to activate and use it, or view the debit card FAQ. Before using the card, you will need to activate it, set a PIN, and sign the back. You’ll be able to use the card for in-store, online, and phone payments, and can get cash surcharge-free at an in-network ATM.

What happens if I don’t receive my stimulus payment?

The IRS says that "If you filed taxes using an online tax-preparation service or software, it’s possible that your payment will be sent to a temporary bank account that has since been closed. Tax preparers customarily set up such so-called Refund Transfer accounts so they can deduct authorized fees before passing the balance along to the recipient and closing the account.

"If your payment is sent to a closed account, the financial institution is required by law to "bounce” the funds back to the IRS. If this happens (or if you receive no payment or the wrong amount for other reasons), your only recourse may be to claim a Recovery Rebate Credit when you file your 2020 taxes.”

My bank account information has changed or was incorrect, what can I do?

According to the IRS, your payment information can’t be changed at this time. It says that "If you don’t get a payment and you’re eligible to receive one, you can claim the Recovery Rebate Credit on your 2020 tax return.”

What happens if the post office was unable to deliver my payment?

If your payment is not deliverable or is returned to the IRS for other reasons, you will need to claim the Recovery Rebate Credit when you file your 2020 tax return. Be sure to include your current address on your return so the IRS can update its information.

What if my address was changed or is wrong?

If your payment can’t be delivered to you for any reason and is returned to the IRS, you’ll need to claim the Recovery Rebate Credit on your 2020 return.

What is the Recovery Rebate Credit?

The credit is the money you receive in stimulus payments. If you do not receive the amount you are entitled to, you can apply to receive those funds when you file your 2020 tax return. You can visit the IRS website for more information about the Recovery Rebate Credit.

Is the stimulus money I receive taxable?

No. The IRS says this money is not income, so you won’t owe federal taxes on it; it won’t affect any expected federal income tax refund; and it won’t affect your income when it comes to determining eligibility for federal assistance or benefit programs. Some states may consider this as taxable income, check with your tax preparer or your state tax department for more information.

Should I be worried about stimulus payment scams?

Scams are always a concern when money is involved, so you should be on the lookout. Some possible scams include:

  • Emails or texts that try to get you to click on a link that then takes you to a form that asks you for personal information so you can get any payment that you are owed. Do not respond to any email asking for personal information.
  • Phone calls where someone claims to be from a federal agency such as the IRS or Treasury Department. Never assume an incoming call is from an authorized person especially if there are asking for personal information.
  • People who contact you claiming that you can get your payment faster by paying a small fee by using either a gift card or prepaid debit card. Always be careful of working with any person or business your do not know or cannot verify.
  • Someone calls you and demands personal information such as bank account numbers or your Social Security number right away or you’ll lose your benefit. This is almost always a sure sign of a scam.

In general, you should be aware that federal agencies won’t ask you to pay anything up front to get your payment, and they won’t call, email, text, or reach out to you via social media to request your bank account or Social Security number, or to verify personal information.

Note that the 2021 stimulus payment program is moving very quickly, and the information included in our FAQs may be subject to change, or other circumstances may apply to you. For the most current information about stimulus payments, visit IRS.gov.

Branch Information

Operational continuity for our membership, in the most safe and prudent manner possible, remains to be our goal. With the ever-growing concerns surrounding COVID-19, we have made the following consolidations within our branch network:
  • As of March 19th, all in-person visits at our Jack Welty branch are temporarily suspended.
  • As of March 21st, all in-person visits on Saturdays at our Cabin John, Columbia Heights, Crystal City, Kensington, and McLean branches are temporarily suspended.
  • As of March 25th, all in-person visits at our SBA branch are temporarily suspended.

Schedule a Branch Visit

As of April 6th, we are now operating on an appointment-only structure in our open branch locations for the safety of our employees and members.

As of April 20th, we now require that members wear face masks or coverings while conducting in-person branch visits. We thank you for your cooperation in facilitating a safe environment for yourself and our staff while visiting Lafayette Federal offices.

To request an in-person meeting, please use our branch visit scheduler below. We kindly ask that appointments be made by 3:00 p.m. at least one business day in advance.

Eric August

Tower Oaks Financial Service Center

Asha Sharma
Assistant Branch Manager
Office: (301) 929-7990 ext. 8003

Schedule an in-person Tower Oaks branch visit using the button below.

April Seymour

Cabin John Financial Service Center

April Seymour
Branch Manager
Office: (301) 929-7990 ext. 8038
Mobile: (240) 485-9311

Schedule an in-person Cabin John branch visit using the button below.

Kensington Financial Service Center

Kensington Financial Service Center

David Mercado
Branch Manager
Office: (301) 929-7990 ext. 8037
Mobile: (202) 306-7061 dmercado@lfcu.org

Schedule an in-person Kensington branch visit using the button below.

Jared Ferris

McLean Financial Service Center

Jared Ferris
Branch Manager
Office: (301) 929-7990 ext. 8039
Mobile: (202) 339-1520

Schedule an in-person McLean branch visit using the button below.

Alexandra Calomaris

Crystal City Financial Service Center

Alexandra Calomaris
Branch Manager
Office: (703) 639-6544

Schedule an in-person Crystal City branch visit using the button below.

Robert Streete

Columbia Heights Financial Service Center

Robert Streete
Branch Manager
Office: (301) 929-7990 ext. 8034
Mobile: (202) 809-8615

Schedule an in-person Columbia Heights branch visit using the button below.

We strongly recommend you use our 24/7 Account Access Services to manage your account anywhere, anytime.

As we continue to monitor the latest regarding COVID-19 (Coronavirus), we will be proactively following our Business Continuity Plan. Please know that our priority is to continue to serve the financial needs of our valued membership, while protecting the safety of our employees.

Financial Assistance

Loan Payment Extension

If you are experiencing financial hardship, we are here for you. You may apply for an extension on your loan payments, including your auto, boat, credit card and personal loans, as well as your mortgage and home equity products.

SBA Business Finance Assistance

For members that own small businesses, you may find some helpful resources at the Small Business Administration website to assist with your business finances.

SBA Debt Relief Lending

To find participating Small Business Administration Debt Relief Lending, visit the link below.

Additional Employer & Employee Resources

To find additional COVID-19 financial relief guidance, public health information, education resources, and other related information, visit the links below.

Access Your Accounts 24/7

As always, you can access your accounts 24/7 via our Online Banking and our Mobile App. Accessible via your PC or mobile device, you can conduct many routine financial transactions, including:

  • Deposit checks quickly and securely 24/7
  • Check your account balances
  • Transfer funds between accounts
  • Make loan payments
  • Initiate wire transfers
  • Change your address

Learn More About Our 24/7 Access Services

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Beware of Scams

In times of disaster and/or emergency, bad actors attempt to take advantage by instituting clever schemes that play on the anxiety of affected citizens. To avoid being a victim during the current national emergency, please be aware of the following scams that have been identified:

  • Imposter Scams – Bad actors attempt to solicit donations, steal personal information, or distribute malware by impersonating government agencies (e.g., Centers for Disease Control and Prevention), international organizations (e.g., World Health Organization (WHO), or healthcare organizations.
  • Investment Scams – The U.S. Securities and Exchange Commission (SEC) urged investors to be wary of COVID-19-related investment scams, such as promotions that falsely claim that the products or services of publicly traded companies can prevent, detect, or cure Coronavirus.
  • Product Scams – The U.S. Federal Trade Commission (FTC) and U.S. Food and Drug Administration (FDA) have issued public statements and warning letters to companies selling unapproved or misbranded products that make false health claims pertaining to COVID-19. Additionally, FinCEN has received reports regarding fraudulent marketing of COVID-19-related supplies, such as certain facemasks.
  • Fake Site Hacking – Attackers put up websites related to COVID-19 and prompt users to download an application so they can stay updated on the situation. This application doesn’t actually need to be installed, but still displays a map of how COVID-19 is spreading. While looking like a legitimate website, it generates a malicious binary file and installs it on the user’s computer. It not only steals data from computers but also infects them with other malware. While it is important to stay up to date about COVID-19, to avoid getting hacked users should only view dashboards from legitimate sources such as those operated by John Hopkins University or the Centers for Disease Control and Prevention (CDC). Also, do not click links in unsolicited emails that promise updates about COVID-19.
  • Charitable Donation Scams – Beware of solicitations for donations that purport to be authorized for COVID-19 support. Only donate to legitimate organizations that you are already familiar with, such as the Red Cross.
  • Requests for Personal Information – Beware of calls, or emails stating that your account(s) may have been compromised that then prompt you to enter your account information for verification. Your financial institutions, creditors and parties that you do business with will not solicit you for that information. If you are unsure, contact your financial institution through your normal communication method to check the status of your accounts. Never disclose your PIN or access codes. Do not click on links, instead go to the company’s website or call a known number to speak to a representative.

As displayed above, the criminal is often attempting to obtain sensitive information from you. Please know that Lafayette Federal will never contact you to request this type of information.

Preventing the Spread of COVID-19

How you can help prevent the spread of COVID-19:

During the COVID-19 pandemic, it's important to be vigilant in order to stay healthy. The best way to prevent illness is to avoid being exposed to the virus. It's thought to spread mainly from person-to-person between people who are in close contact with one another (within about 6 feet), usually through respiratory droplets produced when an infected person coughs or sneezes.

Practice the following in order to prevent the spread of COVID-19:

  • Wash your hands often with soap and water for at least 20 seconds.
  • If soap and water are not readily available, use a hand sanitizer that contains at least 60% alcohol. Cover all surfaces of your hands and rub them together until they feel dry.
  • Avoid touching your eyes, nose, and mouth with unwashed hands.
  • Keep a recommended six foot distance between yourself and others to reduce the spread of COVID-19.
  • Stay home as much as possible. If you have a fever, cough and difficulty breathing, seek medical care early and call in advance. Follow the directions of your local health authority.
  • Cover your mouth and nose with a cloth face cover when around others.
  • Cover your mouth and nose with a tissue when you cough or sneeze or use the inside of your elbow.
  • Throw used tissues in the trash.
  • Clean AND disinfect frequently touched surfaces throughout the day. Most common EPA-registered household disinfectants will work. Use disinfectants appropriate for the surface.

How we are helping to prevent the spread of COVID-19:

  • Temporarily suspending in-branch visits at high-risk locations. Branch visits are now by appointment only for all branch locations in an effort to reduce foot traffic and protect our members and employees.
  • Frequently disinfecting common area surfaces, including ATMs, teller lines, elevators, and door handles.
  • Increasing the number of hand sanitizing stations at all offices and branch locations.
  • Helping employees remain healthy by following the Centers for Disease Control and Protection (CDC) guidelines. Restricting those who are sick, have traveled to high-risk regions, or live with someone who has become sick or traveled to these identified regions from working on-site.
  • Suspending and/or limiting air business travel.
  • Holding group meetings remotely (via phone or online).

Learn more from the Centers for Disease Control and PreventionOpens in New Window, World Health OrganizationOpens in New Window, and the Occupational Safety and Health AdministrationOpens in New Window about COVID-19 or contact your local health department.

We are actively following developments and will continue to keep you updated. As your partner, we are standing by to ensure your business needs are met. Your account access is important to us—we have staff available to answer calls in the office and remotely.

Should you have any questions, please contact us at (301) 929-7990 or (800) 888-6560. Thank you in advance as we navigate this evolving situation.

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