The Treasury Department has already started delivering its $152 billion in economic stimulus payments to 130 million taxpayers. Taxpayers who used direct deposit for their refunds will get paid first. Filers waiting for paper checks should get their rebates by mid-July.

So what are your best options for your rebate money? A recent survey indicated that many Americans are planning to put the money in the bank/Credit Union or use it to pay off debt. A CNN/Opinion Research Corp. poll found that 41% of respondents plan to use their rebates to pay off bills, and 32% will put the money in savings. Just 21% of those polled intend to spend the money, while 3% said they will donate the extra money to charity.

Here are some smart savings options at TFCU for that windfall.

• Contributing to an IRA - If you contribute $1,200 to a Roth IRA now and your investments earn 8% per year, you'll end up with an extra $12,000 in 30 years, which you can access tax-free when you're over age 59½.
• Saving for college - You'll get an extra $300 for each of your kids, so spend it on them. Use it for a starter deposit in a Coverdell Education Savings account or other college savings vehicles. If you have working teens you can use the money to match their summer job earnings and establish a Roth IRA for them.
• Building a rainy-day fund - Seems like there is always an "emergency" requiring money that you may not have. Use your extra funds to start or cushion your emergency fund account. Term share certificate, money market account, or savings accounts are great vehicles to stash your cash.

Other helpful, related links:
Financial Network
Individual Retirement Accounts