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Chairman Johnson Announces Rebate Information Available on MyMoney Website

April 2, 2008, Alexandria, VA – National Credit Union Administration (NCUA) Chairman JoAnn Johnson today announced that information explaining the economic stimulus payments created by the Economic Stimulus Act of 2008 is now featured on the “What’s New” section of the main page of the MyMoney.gov website.  The legislation was signed by President George W. Bush on February 13, 2008.

“I applaud President Bush and Congress for working swiftly to give the American people temporary tax relief at a time when our nation’s economy is experiencing a rough patch.  I encourage credit unions to continue playing a vital role in helping Americans facing uncertain or difficult financial times,” Chairman Johnson said.

The legislation will provide individual tax relief in the form of tax rebates, which will be as much as $600 for individuals and $1,200 for married couples, with additional rebates for families with children.  130 million households will begin to receive the rebates in May. 

However, please be aware that identity thieves are already pushing scams involving the stimulus payments. To see information regarding scams using the economic stimulus rebates please visit the following site: http://www.irs.gov/newsroom/article/0,,id=178061,00.html.

Chairman Johnson was appointed to serve as the Chairman of the www.mymoney.gov website subcommittee in 2006, by the U.S. Financial Literacy and Education Commission (FLEC), which is headed by Treasury Secretary Henry Paulson.  The MyMoney.gov web site was created to provide public access to financial education tools which will empower Americans to save, invest, and manage money wisely to meet personal goals.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 85 million account holders in all federal credit unions and many state-chartered credit unions. NCUA operations are funded by credit unions, not tax dollars.