California is providing $1 billion in mortgage relief grants to homeowners who have fallen behind on housing payments or reverse mortgage arrearages during the COVID pandemic. 
 
Program funds are reserved for homeowners in socially disadvantaged and underserved communities often hit hardest by the pandemic. Californians at or below 100 percent of their county’s area median income — and who own a single-family home, condo or manufactured home (permanently affixed) and faced a pandemic-related financial hardship after Jan. 21, 2020 — may be eligible.
 
Past-due housing payments will be covered in full (up to a maximum of $80,000 per household) with a direct payment to qualified homeowners’ mortgage servicers. The financial support is provided as a one-time grant that qualified homeowners will not have to repay so they can get caught up and have a fresh start. Funding for the program is allocated through the national American Rescue Plan Act’s Homeowner Assistance Fund.
 
The California Mortgage Relief Program will help an estimated 20,000 to 40,000 struggling homeowners. Visit the program’s website to explore eligibility options. If eligible, you can apply through the application portal.
 
A detailed description of the program can be viewed here.

To request a mortgage or home equity forbearance, please see the following steps:   First Mortgages – Members may contact our first mortgage servicing company, Dovenmuehle, directly by phone or online.  1-800-701-4055 or www.yourmortgageonline.com   Second Mortgages – Please fill out this form or call 866.287.6225, extension 2220 for Home Equity and HELOC forbearance requests. You can also email Loan Servicing at LoanServicing@CUSoCal.org.

Californians who have experienced a financial hardship because of the COVID-19 pandemic and are most at-risk of eviction can now apply for the CA COVID-19 Rent Relief program to help pay past due rent. Both renters and landlords can check eligibility and apply by visiting HousingIsKey.com or by calling 833-430-2122 (seven days a week).

The Consumer Financial Protection Bureau (CFPB) has an online tool to help renters and landlords impacted by the pandemic easily find and apply for payment assistance for rent, utilities and other expenses. This new Rental Assistance Finder connects renters and landlords with the state and local programs that are distributing up to $46 billion in federal assistance nationwide to help renters stay housed during the pandemic.

Hang up on robocalls: Don’t press any numbers. Scammers are using illegal robocalls to pitch everything from fake coronavirus treatments to work-at-home schemes. The recording might say that pressing a number will let you speak to a live operator or remove you from their call list, but it might just lead to more robocalls.
 
Ignore online offers: Especially for vaccinations and home test kits. Scammers are trying to get you to buy products that aren’t proven to treat or prevent the coronavirus. At this time, there also are no U.S. Food and Drug Administration authorized home test kits for the coronavirus. Visit the FDA to learn more.
 
Fact-check information: Scammers, and sometimes well-meaning people, share information that hasn’t been verified. Before you pass on any messages, contact trusted sources. Visit What the U.S. Government is Doing for links to federal, state and local government agencies.
 
Know who you’re buying from: Online sellers may claim to have in-demand products, like cleaning, household and health and medical supplies when they don’t.
 
Don’t respond to texts and emails about checks from the government. The details are still being worked out. Anyone who tells you they can get you the money now is a scammer.

Don’t click on links from sources you don’t know. They could download viruses onto your computer or device.

Watch out for emails claiming to be from the Centers for Disease Control and Prevention or experts saying they have information about the virus. Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.

Loan Modification and Foreclosure Scams


 

You can reduce the risk of falling victim to fraudulent phone calls and text messages by following these steps:

• Be aware - legitimate businesses do not make unsolicited calls for personal, sensitive information. If you receive an unsolicited call asking this, it is probably a scam.
• Don't give in to pressure. Many times the caller will pressure or try and scare you into giving your personal information. If so, simply hang up.
• Don't answer phone calls from unknown numbers. Valid callers will leave a message.
• Don't respond to unverified SMS text asking you to call your financial institution. Text messages from never contain hyperlinks or requests for confidential information.
• Stay calm - These callers are masters at emotional string pulling. When in doubt, hang up. Please notify us if you suspect that someone has impersonated a Credit Union of Southern California (CU SoCal) representative.
• Carefully review your statements regularly and contact us if you notice any unauthorized activity.

 

We have taken additional measures in our branches to minimize exposure and prevent unnecessary risk.

Temporary Branch Closures:

• The Alhambra branch is temporarily closed. 
• The Pico Rivera branch is temporarily closed.

For more information about branch hours and closures, please visit our Branches and ATMs page.
 

Did you miss the last email update we sent out? Click on any of the links below to view PDFs of recent email communications.

March 28— Congress Passes $2 Trillion Stimulus Package
March 25— Temporary Branch Closures 
March 24—  Fee Suspension
March 18—  COVID-19 Update 2
March 13—  COVID-19 Update

For your personal well-being and safety, we strongly encourage you to use one of CU SoCal’s digital tools for self-service banking and 24/7 access during this time of heightened health concerns. You can access your accounts online or by using CU SoCal’s mobile app at your convenience. With these tools, you can make payments, view transactions, check balances, find an ATM, deposit checks, and more.

• You may also download CU SoCal’s free Mobile Banking app for your Apple^® or Android™ device at your favorite app store.

Please be advised: We want you to have access to 100% of your stimulus payment. Normally, funds deposited electronically into an overdrawn account are automatically used to cover negative balances. However, if your account is overdrawn and you do not want your stimulus money to cover the negative balance, please call us toll-free at 866 CU SoCal (866.287.6225), Monday through Friday: 9 a.m.-6 p.m. or Saturday: 9 a.m.-1 p.m.

How will I know if I’ll get a stimulus check?

If your income is at the following amounts or higher, you won’t receive a stimulus payment (even if you have dependents):

• Single filers: $80,000
• Married filing jointly: $160,000
• Head of household: $120,000
• You were claimed as a dependent on someone else’s taxes

Where can I check the status of my stimulus payment?

If you are eligible for a stimulus payment but did not yet receive it by direct deposit, you will most likely get your payment in the weeks ahead as a physical check. Visit the IRS website to see the latest status on your payment.
 

How long do I have to wait for my stimulus check?

CU SoCal will make your money sent by direct deposit available as soon as possible. Please be advised that we have no way of tracking your payment until it is deposited.
 

My account is overdrawn. How will my stimulus payment be used?

If your account is negative when you receive your stimulus payment, please let us know how you would like to use your funds. We are happy to work with you to ensure your payment is disbursed as you intended.

Can I use the CU SoCal Mobile App to deposit my stimulus check with my phone?

Absolutely! It’s fast and easy. If you don’t have the CU SoCal Mobile App, go to your favorite source for apps online (Google or Apple both have it) and download our app. You can use Mobile Check Deposit in the CU SoCal Mobile App to deposit the stimulus check by following the steps below.
 
How to deposit a check with your phone on the CU SoCal Mobile App

1. Download our CU SoCal Mobile App for your Apple or Android device.
2. Log in to your CU SoCal account and select “Deposit Checks.” Choose which account and enter the check amount you will deposit.
3. Snap a picture of the front and back of your endorsed check with your Apple¹ or Android device.

 
Certain devices, including Apple iPad 2 and other older devices, lack the quality to provide a clear check image required by the service. You may need to upgrade your device in order to use this service.
 

How does the government know if I am eligible for a stimulus check?

Because income can be determined from your tax return, the IRS is using your last filed taxes to determine if you are eligible for a stimulus payment.
 

Do I need to tell the government where to send my stimulus check?

No. The government is using banking information from your tax refund to determine where to send stimulus payments by direct deposit. The IRS will use the information on your last tax form to determine income eligibility and where to send your payment. If your 2019 tax refund was deposited electronically by the IRS into you CU SoCal Checking or Savings Account, your stimulus payment will go into the same account by direct deposit. If you normally receive your tax refund by paper check, you will also receive a paper check for your stimulus payment.
 

How will the IRS know where to send my stimulus payment?

If you received a 2019 tax refund from the IRS via direct deposit into your CU SoCal Checking or Savings Account, the stimulus payment will be deposited into the same account. If you don’t get your tax refunds electronically, then the IRS will mail your check to the physical address listed on your tax return.

How can I get my payment electronically instead of through the mail?

If you have received past tax refunds by paper check rather than electronic direct deposit, your stimulus payment will also be sent as a paper check. However, the Get My Payment website  from the IRS allows you to enter your banking information so that your stimulus payment can be sent by direct deposit, potentially avoiding a longer wait for a paper check. The Get My Payment website also allows you to track the status of your payment. To complete this update, you will need CU SoCal’s routing number (322283796) and your account number, which can be found at the bottom of check to the right of the routing number.

Will taxes be taken out of the stimulus payment?

No, the stimulus payment is not taxed.

I don’t make enough money to file taxes and haven’t for years. I am also on Social Security. Am I eligible for a stimulus check?

Yes. People who are not required to file a tax return, including Social Security recipients, are eligible to receive a stimulus payment, though not if someone else claims you as a dependent on their taxes. Individuals with disabilities and low income households are also eligible. To learn if you have a filing requirement related to stimulus payments, please see the IRS tool under the “Do I Need to File a Tax Return?”.

Are stimulus payments going to college students?

College students are only eligible if they are not being claimed as a dependent on a parent’s tax return and do not surpass income requirements to receive a stimulus check.
 

What does it mean if someone claims they can get my stimulus payment faster for me?

It’s a scam. The government is reporting widespread fraud attempts regarding stimulus payments. Never disclosure sensitive, personal information to anyone over the phone, by email or text or postal mail. That includes your date of birth, account numbers, Social Security number, PIN numbers or any other such information. For more information, visit the IRS’s Coronavirus scams page.

What if my tax preparer sent me my tax refund instead of the IRS? How does that affect how I receive my stimulus check?

If you have never received an electronic tax refund directly from the IRS, you will most likely receive a paper check, which are going out in early May and may take as long as five months to receive. To check the status of your stimulus payment, visit the Economic Impact Payment Information Center of the IRS website by clicking here: https://www.irs.gov/coronavirus/economic-impact-payment-information-center

If I have a tax lien or owe child support, could my stimulus check be garnished?

Yes. If you owe child support or back taxes and have a lien, you could see a garnishment on your stimulus payment.

Can I set up an alert on my account so I know when my stimulus check is deposited?

Yes! Please be advised this function is only available in CU SoCal’s Online Banking channel, but not the CU SoCal Mobile App. Please see the steps below to set up an alert.

 Step 1: Go to CUSoCal.org and sign into your Online Banking (not available through the Mobile App)
Step 2: Click on Alerts on the left of the grey Online Banking dashboard
Step 3: Click Add Alert from the sub menu below the primary dashboard options
Step 4:  Select Transaction and click the Next button
Step 5: Name your alert, we suggest IRS Deposit
Step 6: In the Criteria box type the words: IRS TREAS
Step 7: Select the All Day button under Deliver options
Step 8: Select how you would like to be notified (by email and or text)
Step 9: click Save
 
Please note that alerts are not immediate and can take up to 30 minutes to arrive.  

 

The IRS is providing the second round of stimulus payments by either direct deposit to your account, with a Visa® debit card, or by paper check. If the IRS had your bank information on file, you may have already received a direct deposit. If they don’t have the information on file, they’re mailing the economic impact payment (EIP) to you on a Visa debit card or a paper check.
 
Your EIP Card will arrive in a white envelope that prominently displays the U.S. Treasury seal and includes “Economic Impact Payment Card” in the return address. The envelope also says “important information about your Economic Impact Payment.” The Visa name will appear on the front of the Card; the back of the Card has the name of the issuing bank, MetaBank®, N.A.
 
You can activate your card by calling 1.800.240.8100. During activation, you will be asked to input your card number, the last 6-digits of your social security number, and the 3-digit security code form the back of the card. You may be asked to further validate your identity and will also be asked to create a 4-digit PIN.