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Article | March

The Coronavirus Stimulus Package: Here’s What You Need to Know.

Exterior view of Maple Grove branch lit up at night
March 30, 2020

What is the stimulus package?

The House and Senate have approved a spending bill that will send direct payments to Americans in the forms of stimulus checks. This program provides direct financial assistance to people affected by the coronavirus pandemic.

How do I know if qualify for a stimulus check?

U.S. citizens who cannot be claimed as a dependent on someone else’s return are eligible, though there are income restrictions. Nonresident aliens, estates and trusts are not eligible.

How much will I receive?

Payment amounts are based on your adjusted gross income, which is taken from your 2019 tax returns (or your 2018 tax return if you haven’t filed yet). Your adjusted gross income can be found on federal form 1040, line 8B for 2019; line 7 for 2018.

 
If you... You'll receive...
Make up to $75,000 as an individual $1,200 per person
Make up to $150,000 as a married couple $2,400 per couple
Have children $500 per child
 

These amounts will gradually decrease at higher income levels. For example, an individual making more than $75,000 will have their payment reduced by $5 for every $100 earned over $75,000. Married couples earning more than $150,000 will follow a similar declining pattern.

Individuals earning more than $99,000 annually and married couples making more than $198,000 annually will not receive stimulus checks. At this time, it is unclear if people who receive Social Security or are retired will qualify for a stimulus check.

When can I expect to receive the check?

Officials say they expect payments to be made as soon as a few weeks. If the IRS has your financial information from a previous refund direct deposit, it will be deposited to that account. If no account is on file, you will receive a check via mail.

How do I deposit the funds into my Wings account?

If Wings is already established as your financial institution with the IRS, then your check will be directly deposited in your account.

If you file your 2019 taxes before the stimulus checks are processed and want to have the payment direct deposited, you’ll need to provide:

  • Your Wings’ checking or savings account number – not your Wings ID. If you use your Wings ID number, the payment will be rejected and sent back to the government.
  • Wings’ routing number, which is 296076152.
  • Accurate indication whether you are sending this payment to a checking or savings account. If your account type selection doesn’t match the type of account you provide a number for, your payment will also be rejected.

If you receive a paper check, it can be deposited in the Wings Mobile App or at a branch.

Where can I find my Wings account number?

  1. Log into CU Online.
  2. Click on the “Accounts” tab in the top-right corner.
  3. Click on “Account Summary.”
  4. Click on a specific account.
  5. Your account number will be in the left sidebar next to your account history.
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