Direct Deposit
What is Direct Deposit?
Direct Deposit is a free Government service or a private payroll service that enables you to have your payroll payments sent directly to your share draft (checking) or your share (savings) account. Payments are sent by electronic funds transfer, thereby eliminating the need to print and mail checks.
Some of the advantages of Direct Deposit are:
| | • | Eliminates a special trip to deposit your check |
| | • | Ends worry about your checks being lost or stolen |
| | • | Begins earning interest immediately if deposited into an interest-bearing account |
| | • | Ensures that your money is available to you at the opening of business on the same day your check would arrive in the mail |
| | • | Helps reduce Government costs. For Social Security payments, the money saved with Direct Deposit is returned to the trust fund and remains available for future payments. |
How do you sign up?
Just take your next check to your credit union or see your payroll master. They will answer any questions you may have and help you complete the form.
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