Direct Deposit is the electronic transfer of a payment from a company or organization into an individual’s checking or savings account. The most popular application of Direct Deposit is for payroll, but it can also be used for many other types of payments, including:

• Annuities 
• Bonuses and commissions 
• Dividend and interest payments 
• Pensions 
•  Travel expense settlements 
•  Tax refunds 
•  Social Security or other government payment

Benefits of Direct Deposit:

• Direct Deposit is safe, confidential, convenient and fast.
• Employees who use Direct Deposit can access their pay in their accounts the beginning of the business on payday.
• For income tax refunds, the government often makes refunds via Direct Deposit within days of receiving returns.
• Paper checks are 20 times likely to cause problems than Direct Deposit
• No waiting for checks to clear.

How does Direct Deposit work?

1. By completing a standard enrollment form, a member authorizes a company or organization to make a Direct Deposit payment into one or more of his or her accounts.
2. The company or organization making the Direct Deposit may perform a test run by sending the member’s checking or savings account information, but no dollar amount, to the Credit Union via the ACH Network. The Credit Union notifies the company or organization if the entry can’t be posted or if any changes need to be made to the account information.
3. Once the test occurs, the Credit Union credits the member’s account(s) and report the transaction(s) on the member’s monthly account statement.

For more information on establishing direct deposit to your account, contact the Member Service Center.