skip to Main Content
 

Dupaco is continuously working to provide updated resources and guidance to our members. Below are frequently asked questions involving the Payment Protection Plan, Stimulus Payments and other pandemic related topics.

Payment Protection Program

The U.S. government has passed multiple pieces of legislation to provide financial relief to individuals and businesses during the economic fallout from the COVID-19 pandemic. Out of this legislation, the Paycheck Protection Program was created. It’s a loan program to help small- and mid-sized businesses maintain cash flow during this challenging financial time.

You can apply for a PPP loan here. It will explain the eligibility requirements and the documents you’ll need to apply.

You can apply for a PPP loan now. The last day to apply for a PPP loan is March 31, 2021.

You might be eligible to apply for another PPP loan if you have 300 or fewer employees. Businesses with multiple locations can’t have more than 300 employees per physical location. You also must be able to show a 25% reduction in your gross revenues from one quarter in 2019 to that same quarter in 2020 OR over an annual basis from 2019 compared to 2020 with substantiated filed tax forms if you choose to compare annual receipts.

You might be eligible for loan forgiveness if you used the funds for eligible payroll costs, payments on business mortgage interest payments, rent or utilities during either the eight or 24-week period after your loan disbursement.

You can apply for PPP loan forgiveness on our website here. It will explain the eligibility requirements and the documents you’ll need to apply.

You can apply for forgiveness any time during or after your covered period for up to 10 months after your covered period has ended. Your covered period is either eight or 24 weeks if you received your PPP loan by August 2020. Your covered period can be anywhere from eight to 24 weeks if you receive your PPP loan during 2021.

Government Stimulus Payments

The U.S. government has passed multiple pieces of legislation to provide financial relief to individuals and businesses during the economic fallout from the COVID-19 pandemic. Two of these acts included economic impact payments for eligible taxpayers:

  • The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law March 27, 2020. This first round of stimulus payments began to be issued in April 2020. As of January 2021, most eligible taxpayers have received their first economic impact payment.
  • The Consolidated Appropriations Act was signed into law Dec. 27, 2020, and included a second round of economic impact payments for eligible taxpayers. These payments began being issued the final week of December 2020.

The Internal Revenue Service said you are eligible for a stimulus payment if you are a U.S. citizen or resident alien, are not a dependent of another taxpayer, and have a social security number valid for employment.

Stimulus payments will vary depending on your tax liability. But generally, here’s what to expect:

First economic impact payment:

Eligible individuals who file a joint tax return will receive up to $2,400 and all other eligible individuals will receive up to $1,200. Those with qualifying children will receive up to an additional $500 per qualifying child.

You don’t need to meet a minimum income for the payment. But for higher income individuals, the payment amount is reduced if your adjusted gross income exceeds certain thresholds.

Second economic impact payment:

Eligible individuals who file a joint tax return will receive up to $1,200 and all other eligible individuals will receive up to $600. Those with qualifying children will receive up to an additional $600 per qualifying child.

You don’t need to meet a minimum income for the payment. But for higher income individuals, the payment amount is reduced if your adjusted gross income exceeds certain thresholds.

You can check the status of both your first and second payments by using the IRS’ Get My Payment tool.

The tool will let you confirm:

  • That the IRS sent your second stimulus payment.
  • That the IRS sent your first payment. Some people received their first Economic Impact Payment in partial payments. If you received partial payments, the application will show only the most recent.
  • Your payment type: Direct deposit or mail.

The IRS said you do NOT need to take any action to receive this second payment. These payments are automatic for:

  • Eligible taxpayers who filed a 2019 tax return.
  • Those who receive Social Security retirement, survivor or disability benefits, Railroad Retirement benefits and Supplemental Security Income.
  • Veterans Affairs beneficiaries who didn’t file a tax return.
  • Anyone who successfully registered for the first payment at IRS.gov using the agency’s Non-Filers tool by Nov. 21 or who submitted a simplified tax return that has been processed by the IRS.

You can use Shine Online or Shine Mobile Banking to find out whether your payment is hitting your Dupaco account. Here’s how:

1: Sign in to Shine.
2: Select Direct Deposits from the main menu.
3: Select the Future tab to see whether you have a future payment from “IRS TREAS.” It will tell you when the payment will post to your account.

You can also use Shine to be alerted when your stimulus payment becomes available. Just follow these steps:

1: Sign in to Shine.
2: Select eNotifiers from the main menu.
3: Under Activity Alerts, enable All Transactions to receive email or text messages for all transactions to your account, including your stimulus deposit.

Using Shine Mobile Banking, you can deposit your check right from your mobile phone! Just follow these steps:

1: Endorse the back of your paper check with your signature and the words “For mobile deposit at Dupaco.”

2: Sign into Shine.

3: Select Mobile Deposit from the main menu and follow the prompts.

That’s it! Your check will pass through certain checkpoints for validation and, if accepted, will be credited to your checking or savings account.

The Internal Revenue Service requires that these payments automatically be returned to the IRS.

How Dupaco protects you during COVID-19

Scams can take many forms—promoting fake information, donation requests, investment “opportunities” and more. Learn about some of the most common COVID-19 scams here so you’re prepared to spot them.

Social distancing, personal protective equipment, and sneeze/cough barriers are in place, and extra cleaning and sanitizing precautions take place daily. All Dupaco staff wear masks for your protection, and the credit union encourages you to do the same!

How can you help? You’re encouraged to come to the branch alone, or with as few people as possible, to help with social distancing and to serve you, and your fellow members, as quickly as possible.

Yes! You still have other safe, convenient ways to access your money and your credit union, including:

Of course! It’s quick and easy to register. You have three options to get started:

  • Desktop: Click on the Online Banking button at the top of this page. Select Register and complete the necessary fields as you’re prompted.
  • Mobile browser: Tap the Online Banking button at the top of this page. Select Register and complete the necessary fields as you’re prompted.
  • Dupaco’s app: First you’ll need to download Dupaco’s Shine Mobile Banking app. Open the app, then click the Register button and complete the necessary fields as you’re prompted. To get the app, click or scan the QR code that’s appropriate for your device on this page.

Your money and account information remain safe at Dupaco. All of your deposits at Dupaco are insured.

Deposits are federally insured up to $250,000 by the National Credit Union Administration, a U.S. government agency. Members of federally insured credit unions have not lost one penny of insured deposits in the entire history of credit unions!

How you have your accounts structured determine your coverage. For example, you might qualify for more than $250,000 in coverage at one insured credit union if you own share accounts in different ownership categories. The most common account ownership categories for individual and family shares are single owner accounts, joint accounts, certain retirement accounts, revocable trust accounts, and irrevocable trust accounts.

Curious how much coverage you have at Dupaco? You can use this Share Insurance Estimator and find answers to other questions you might have.

Have questions? Need help?

You may find what you are looking for by viewing one of the below resources. Otherwise, give us a call at 800-373-7600.

×Close search
Search