Updated 03/18/2021

As the Pandemic evolves, we continue to focus on the health, safety, and well-being of our Members, team, and communities. Below you'll find information about all the ways we are here to help. 

COVID-19 News and Assistance

As a financial co-operative, we understand more than most exactly what it means to help each other. So in times like this, we lend more than a hand. As news about COVID-19 continues to evolve, we want to ensure we are a resource to help you navigate the waters. 

The page will continue to be updated, along with our social media channels where you can follow us on Twitter, FaceBook, Instagram, and Linked In. 

Economic Stimulus Information

STIMULUS CHECKS: WAVE 3

Congress passed the $1.9 trillion relief package with a third wave of $1,400 stimulus checks, topping off the $600 second stimulus payments and adding up to $2,000 for millions of Americans. For additional information, please visit www.irs.gov

The first wave of payments posted on Monday, March 15th. Other waves may follow.

For Members whose payment is sent to an account that is now closed, we are required by IRS regulations to return that payment to the IRS. We are not able to change the payment to a different Excite Credit Union account. The next step for returned payments will be for the IRS to send paper checks to the address on file for each taxpayer.


Other Resources:

Easily deposit your check with our mobile app.

What to Do with Your Stimulus Check

Stimulus Check Calculator

Please Note: Excite Credit Union will not charge you an overdraft fee to access your stimulus money.  If your account was overdrawn prior to your stimulus deposit and accessing your stimulus funds resulted in an overdraft fee, please log in to online/mobile banking and send us a secure message with the details. Please allow 48 hours for research and credit to your account. Thank you for your patience and understanding.

 

SBA Paycheck Protection Program (PPP)

The Economic Aid Act, recently passed by Congress, allocates additional funds to support the SBA Paycheck Protection Program (PPP). The approved $284 billion will be made available to both first time PPP borrowers as well as qualifying existing PPP borrowers in need of a second draw. 

As local businesses continue to struggle during the COVID-19 pandemic, Excite Credit Union has partnered once again with Kabbage to assist our members with the second round of Paycheck Protection Program loans. Please do not email or drop off applications as they will not be reviewed or processed. 

Frequently Asked Questions About COVID-19

From the U.S. Treasury Department: Eligible individuals will receive an Economic Impact Payment of up to $1,400 for individuals or $2,400 for married couples and up to $1,400 for each eligible dependent. For income qualifications, please visit the IRS.gov.

If you believe you are eligible for an Economic Impact Payment but have not received one, it could be for one of the following reasons:

  • You received a stimulus payment in the previous rounds but do not qualify this time because of the new income requirements.
  • The IRS has incorrect direct deposit information on file for you. If your payment is returned for this reason, the IRS will send a paper check to the address they have on file for you.
  • The IRS has an old or incorrect address on file for you. An option available to update your address on file is IRS Form 8822.

Excite Credit Union representatives cannot help with payment status. For more information, please visit irs.gov/coronavirus/get-my-payment.

The IRS has indicated that if your payment was delivered to a closed account, it will ultimately be delayed. If your deposit is rejected due to the account being closed, the IRS will issue your payment with a check mailed to the address on file for you. Per IRS regulations, we are not able to reactivate closed accounts for the purpose of posting a member's Economic Impact Payment, and we are not able to change the payment to a different Excite Credit Union account.

Scammers are using the stimulus package as a cover to commit fraud. They pose as the IRS and claim to need identity verification or offer additional money if you pay a fee, then they steal your information.

The scammers have a new trick in their books related to the COVID-19 Pandemic. It's a text scam created by these theives that tricks people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment. For more informaiton, click here. 

Head to the IRS website for updates on how to avoid identity theft.  

Congress passed a new stimulus package which was signed into law December 27, 2020. Included in this stimulus package is an additional round of funding for the SBA’s Paycheck Protection Program (PPP).

The approved $284 billion will be made available to both first time PPP borrowers as well as qualifying existing PPP borrowers in need of a second draw.

This new round of funding will be made available to qualifying businesses that did not participate in the first round of PPP,  especially minority- and women-owned businesses. On January 7, 2021, the SBA published program guidelines for this second round of funding and  applications are now opened for Excite Credit Union members.

We have partnered once again with Kabbage to assist our members with the second PPP loans. For more information, please visit Kabbage.

Applications for the PPP program will be accepted through March 31, 2021, or until the funding provided by the Economic Aid Act has been exhausted.

First Draw PPP Loans

If you did not take advantage of the Paycheck Protection program in 2020, you now have the opportunity to request a first draw loan. Also, some businesses who received a PPP loan in 2020 may be eligible for an increase or to reapply for a First Draw PPP Loan. Please see the SBA's Top-Line Overview First Draw PPP (PDF) for more information.

Visit the Paycheck Protection Program website for more information.

 

Second Draw PPP Loans

Existing PPP Loan borrowers may be eligible for a second draw loan. Please see the SBA's Top-Line Overview Second Draw PPP (PDF) for more information.

Visit the Paycheck Protection Program website for more information.

Are you dealing with financial hardships, such as income disruption or unexpected expenses related to COVID-19? Our Emergency Relief Loans are here to help you through this challenging time. 

EMERGENCY LOAN: We are offering up quick cash to help you with a fixed rate of 5.99% up to 60 months. Plus, there are no payments for the first 90 days so you have more time to get back on your feet.

Start Here

SKIP-A-PAY: Skip your next auto or personal loan payment. No fees. Just be current on your loans. It doesn’t count against your annual limit.

Start Here

Skip your next auto or personal loan payment. No fees. Just be current on your loans. It doesn’t count against your annual limit.

Start Here

Scammers are taking advantage of the pandemic and the confusion regariding things from stimulus checks to vaccines. Here are a few things to be aware of:

STIMLUS CHECK SCAM: They pose as the IRS and claim to need identity verification or offer additional money if you pay a fee, then they steal your information.

The scammers have a new trick in their books related to the COVID-19 Pandemic. It's a text scam created by these theives that tricks people into disclosing bank account information under the guise of receiving the $1,200 Economic Impact Payment. For more informaiton, click here. 

Head to the IRS website for updates on how to avoid identity theft.  

 

PHISHING SCAM: If you receive a phone call, text or e-mail purporting to be from Apple Support or Microsoft Support, DO NOT provide any account information. Disconnect from the call and call the company directly but not from the number that is appearing on your call. There should never be a scenario where any support team should require you to buy a gift card to resolve any problem.

 

SUSPICIOUS EMAILS: We will never use email to ask for sensitive information. Any sensitive information we collect on our website will be done behind the Online Banking Login using SSL protected pages.

If you receive any email claiming to be from Excite Credit Union, a government agency or other company claiming to represent us, that asks for your personal or financial information, PLEASE do not reply or click on any links that may be embedded in the email.

We ask that you forward suspicious emails immediately to: service@excitecu.org 

COMMON SCAMS: This section provides some tips from the Federal Trade Commission and the Internet Crime Complaint Center (IC3) that will help prevent you from being a victim.
https://www.consumer.ftc.gov/features/feature-0014-identity-theft

www.ic3.gov (file a complaint i.e internet crime)