We are here when you need us. Members have been depending on us for over 80 years and we know you need to focus on what matters most: you, your family & our communities. Click on the topics below to view information, resources and what you need to know.
- Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
- Employment
- Family services & assistance
- Tax return information
CARES Act
The $2 trillion federal stimulus package is aimed at providing relief to U.S. consumers and businesses impacted by COVID-19.
Stimulus Checks - Payments will be direct deposited to the financial account you had on file with the Internal Revenue Service (IRS) from previous tax refund years or the IRS will mail checks to your last-known address.
- Please visit the IRS Economic Impact Payment Information Center for detailed information. https://www.irs.gov/coronavirus/economic-impact-payments
- Please see the Ohio Department of Jobs and Family Services summary on New Federal Pandemic Unemployment Programs: https://jfs.ohio.gov/ocomm/pdf/CARES-ACT.pdf
- For information regarding your U1 IRA or questions on retirement and the CARES Act, please contact 937-225-9288 or memberservices@u1cu.org
- Before withdrawing from your 401(k), IRA or TSP, talk to your financial institution or advisor for specific assistance on your plan.
- Federal student loan service providers suspend payments for six months (ending on September 30, 2020).
- Please contact your student loan provider for additional information.
Sallie Mae Borrowers:
For those affected, Sallie Mae will suspend payment for one month and keep the loan marked in good standing. Members may extend as many months as necessary simply by contacting Sallie Mae and requesting the extension. In addition, Sallie Mae will waive late fees and can modify the account terms, as warranted.
If your Sallie Mae private student loans have been impacted by the coronavirus, you can chat with Sallie Mae representatives via SallieMae.com or by calling 800/4-SALLIE (800-472-5543) during the following times:
- Monday – Thursday: 8:00 a.m. to 9:00 p.m. ET
- Friday: 8:00 a.m. to 8:00 p.m. ET
- Saturday: 9:00 a.m. to 6:00 p.m. ET
- How to Apply: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp#section-header-1
- Contact and hour information for the Dayton SBA: https://www.sba.gov/offices/district/oh/columbus
- Ohio Department of Jobs and Family Services (ODJFS) unemployment requirements and additional information. Visit https://unemployment.ohio.gov/PublicSelfServiceChoice.html
- To view a list of companies currently hiring and/or options to help with unemployment, visit the Ohio Means Jobs COVID-19 resource page: https://thejobcenter.org/COVID-19-resources
- For child care resources and information regarding pandemic providers, visit the ODJFS page on child care for families: http://jfs.ohio.gov/cdc/CoronavirusAndChildcareForFamilies
- For additional information regarding family, food, Medicaid or cash assistance visit https://ssp.benefits.ohio.gov/
- The deadline for filing Federal Tax Returns has been extended to July 15, 2020 by the Internal Revenue Service (IRS).
- For further details, visit the IRS questions and answers page: https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers
There may be a lot of things to worry about these days, but the safety of your money in your U1 accounts should not be one of them. Withdrawing large amounts of cash from your account is not recommended. Federally insured credit unions offer a safe place for credit union members to save money. All deposits at U1 are protected by the National Credit Union Share Insurance Fund, with deposits insured up to at least $250,000 per individual depositor. For more information on share insurance, visit: https://www.mycreditunion.gov/share-insurance
If you experience financial challenges during this time, there are ways we can support you. Please contact our Credit Solutions team at 800.543.5000 opt. -6- for full details.
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