Here are six things the National Credit Union Foundation suggests to help you decide how to spend your stimulus checks:

  1. Prioritize: Focus on the bills that keep a roof over your head, the lights on and food on the table. Check with your local jurisdiction as many utilities and communications providers are working with consumers to waive fees, keep the power on and your internet connection working.

  2. Talk: With your credit union and other lenders. Many are offering low or 0% small-dollar loans, skip-a-pay, loan modifications and other sources of help so you can use your payment for what you need now. First Commonwealth is offering relief options to our members – please reach out to us to discuss your personal situation.

  3. Save some of it: If you set aside even $100-200, that can provide a cushion for bills that are coming in a couple of weeks. America Saves has solid resources and information to help with access to food and unemployment benefits.

  4. Don’t hoard cash: Keep it in your credit union. It’s safest there.

  5. Protect: There are lots of bad guys out there trying to use this crisis to get at your stimulus check and your money. Watch out for suspicious emails, texts or phone calls. Here’s a great article that can help you keep an eye out for these threats.

  6. Pay your taxes: The deadline for filing and paying income taxes has been extended to July 15th. If you haven’t saved to pay your income taxes, you may want to consider using the economic impact payment to pay your taxes.

Economic Impact Payment FAQ


Want more? Watch this video from our partner, GreenPath Financial Wellness




“Economic Impact Payments - What Should Your Members Do With Them?” NCUF, 14 Apr. 2020,

GreenPath Financial Wellness. “COVID-19 Tip #3: How to Use Your Stimulus Check.” Vimeo, 19 Apr. 2020,