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Direct Deposit is a free service that electronically deposits your paycheck, retirement check, Social Security check or other recurring payments to your credit union checking account automatically each payday.
With Direct Deposit, you’ll never have to rush through traffic to make a deposit, only to have to wait in line at a teller window or ATM once you get there. Just complete a one-time authorization form, and soon your checks will be automatically deposited to your account.
You will no longer receive a paper check, although most payers still provide a check stub or equivalent. Once your deposit arrives at the credit union, you can arrange to have regular transactions such as loan payments or savings deposits made automatically, or do them yourself by phone or in person.
If you only want to make a regular loan payment or savings deposit instead of sending your whole check to the credit union, you can use the Payroll Deduction service offered by many employers in our field of membership
Payroll Deductions are automatic deductions from each paycheck for specific amounts, such as a credit union loan payment or deposits to a savings account, Financial Health Club or Christmas Club account, or IRA. Since the deduction is only part of your total check, you still receive a regular paper check on payday (less the amount of your deductions).
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