Anyone with MCU Bank in NY Get Their Tax Refund Yet?
Has anyone who banks with Municipal Credit Union in NY received their tax refund yet? I'm still waiting on mine and wondering if it's just me or if other MCU members are in the same boat. I've noticed people with Chase and BoA seem to be getting theirs faster than credit union members like us. This is my first time filing with direct deposit to MCU and I'm completely overwhelmed by how different banks seem to process IRS refunds on totally different schedules. Any MCU members here who can share their experience?
19 comments
Join the conversation
Tobias Lancaster
The timing of tax refund deposits can vary significantly between financial institutions. Have you checked your tax transcript to confirm the IRS has actually released your refund? Sometimes what appears to be a bank delay is actually still processing on the IRS side. When did you file, and does your Where's My Refund status show 'Refund Sent'? Different financial institutions do have varying processing times for government deposits, but it's important to first verify the IRS has actually released the funds.
0 coins
Ezra Beard
•Filed on February 12. WMR shows refund approved. Still nothing in my account. Called MCU twice. No help.
0 coins
Statiia Aarssizan
•This explanation makes a lot of sense. I was wondering about the difference between IRS processing and bank processing times. So I should check my transcript to confirm the actual refund release date before blaming my credit union, correct?
0 coins
Reginald Blackwell
•I checked my transcript on March 28th and it showed a direct deposit date of April 3rd, but it's April 5th now and still nothing in my MCU account. Does MCU typically hold funds longer than other banks? Is there a specific number of business days I should expect to wait after the IRS deposit date?
0 coins
Aria Khan
I bank with MCU and just got my refund yesterday after waiting about 3 weeks since my WMR showed approved. Last year when I banked with Chase it was in my account literally the same day WMR updated to sent. From my personal experience, MCU does seem to take a bit longer to process these deposits compared to the big banks. I was checking my account obsessively every few hours! My sister banks with Capital One and got hers 2 days before me despite us filing on the same day.
0 coins
Everett Tutum
Have you tried calling the IRS to confirm everything is correct with your refund? If your transcript shows it was sent but MCU doesn't have it, couldn't that indicate a routing or account number issue? I've found that calling the IRS directly is nearly impossible these days unless you're willing to spend hours redialing. When I was in a similar situation, I used Claimyr (https://youtu.be/_kiP6q8DX5c) to get through to an agent in about 15 minutes. Isn't it worth the small fee to get actual confirmation rather than wondering what's happening with potentially thousands of dollars?
0 coins
Sunny Wang
I'm with MCU too and was worried sick about my refund (I check my account probably 10 times a day, lol). Mine finally showed up yesterday morning! Filed Feb 18, WMR showed approved March 22, and deposit hit April 4. So about 2 weeks from approval to deposit. Not gonna lie, I was getting ready to call the IRS thinking something went wrong! 😂 Seems like MCU just takes their sweet time compared to other banks.
0 coins
Hugh Intensity
I was possibly in the same situation as you last week with my credit union. I couldn't figure out if the delay was on the IRS side or my bank's side. I tried using https://taxr.ai to analyze my transcript, and it was actually really helpful for understanding what was happening. It explained that my refund had been officially released by the IRS on a specific date, and that credit unions sometimes take 1-3 business days longer to process government deposits than major banks. Might be worth checking your transcript through something like that to see exactly where things stand.
0 coins
Effie Alexander
MCU member here. Their processing time is ridiculous compared to other banks. Last year I had Chase and got my refund the same day IRS sent it. This year with MCU, it took FIVE business days after the IRS deposit date on my transcript. Called them twice and got different answers each time. One rep said they hold government deposits for "verification" while another said they process in order received. Meanwhile my husband's credit union (Suffolk FCU) only took 1 day to process his. Just another example of how MCU's systems are stuck in the stone age compared to other financial institutions.
0 coins
Melissa Lin
•Did MCU give you any specific reason for the extended hold period? I'm wondering if this is standard policy or if there's something about certain accounts that triggers additional verification.
0 coins
Lydia Santiago
•I had a similar experience with my previous credit union before switching to a national bank. Did you notice if the funds were showing as pending in your account during those five days, or did they just appear suddenly with no pending status?
0 coins
Romeo Quest
MCU member here who JUST got my refund today! Here's my timeline: • Filed: February 20 • Accepted: February 21 • WMR updated to approved: March 29 • Transcript showed DD date: April 1 • Actually hit my MCU account: April 5 So it took 4 extra days after the IRS deposit date. Called MCU on day 3 and they said they could see the pending deposit but their system takes 3-5 business days to process government deposits. Hope this helps anyone still waiting!
0 coins
Val Rossi
•Was this your first time receiving a tax refund with MCU? I'm curious if returning customers experience the same delay or if it's primarily affecting new accounts.
0 coins
Eve Freeman
•That's actually really reassuring to hear! The waiting game is the worst part, especially when you see others getting their refunds while yours is nowhere to be seen.
0 coins
Clarissa Flair
•According to Regulation CC (Expedited Funds Availability Act), financial institutions are generally required to make funds from government checks available by the next business day. However, I've learned that credit unions sometimes have different processing protocols that can extend this timeline while still complying with the regulation. I appreciate you sharing your exact timeline as it helps set realistic expectations.
0 coins
Caden Turner
•Did you notice if your refund was processed faster or slower than other direct deposits you receive? I'm wondering if MCU specifically treats tax refunds differently than regular direct deposits like paychecks.
0 coins
McKenzie Shade
MCU is notoriously slow w/ govt deposits IMO. Been banking w/ them for 5+ yrs and every single tax season it's the same story. They take AT LEAST 2-3 biz days longer than most banks. My cousin has Chase and always gets hers same day IRS releases it. MCU claims they have a "verification process" for large deposits but tbh I think their systems are just outdated AF. Pro tip: call the IRS (good luck lol) and ask for the exact date they sent it. Then add 3-5 biz days for MCU. That's ur real DD date.
0 coins
Tobias Lancaster
•I've had the same experience with my credit union. They're great for many things, but government deposits always seem to take extra time. I've found that setting up alerts for any deposit over $100 helps me know exactly when it hits without obsessively checking my account.
0 coins
Harmony Love
Think of MCU like that friend who's always late to everything - they'll get there eventually, just on their own schedule! I've banked with them for tax refunds the last three years, and it's always 3-4 business days after the IRS deposit date shown on my transcript. It's like the difference between shipping with FedEx (big banks) versus media mail (MCU). The package gets there either way, just at different speeds. If your transcript shows a deposit date within the last week, I wouldn't worry yet - MCU is just doing their thing.
0 coins