Direct Deposit Advantages
Sign up now to have your payroll or government check directly deposited to your Southern Security accounts. Many employers and the government are mandating that you name a financial institution to receive your payments. There are many benefits to this electronic fund transfer (EFT) - and Southern Security adds even more!
You no longer have to wait for your government check to arrive at your post office box or your mail box, then make the effort to drive to the credit union. No more leaving your work on your lunch break to make a mad dash to deposit your payroll. Why? Your money is already in your account at the credit union.
No more worrying about a check getting lost in the mail or someone intercepting it. Did you know that if you receive the traditional paper check, you're 20 times more likely to have a problem with it?
You always know when your check is to be deposited. And you can always check on its status via CU Online or MoneyTalk.
Now, even if you're out of town, your deposit is still made for you at the regular date and time.
Southern Security's added benefits:
- Direct deposit is offered at no cost to you.
- Southern Security will split your deposit any way you request. Other financial institutions may require the deposit be made into a single account such as a checking account. We allow you to designate which accounts receive deposits – Holiday Club, loan payments, savings, and of course, checking. Just let us know how you want your deposit split
- Remember, there is no minimum deposit requirement for checking AND our checking account is FREE. What a perfect combination for direct deposit.
To set up direct deposit...
- For your payroll, simply complete a payroll deduction card. Indicate "direct deposit/100%." Don't forget to specify how you want the deposits split ($50 to Savings, $20 to Holiday Club and Balance to Checking). Some employers have an additional direct deposit form. If so, be sure to get it.
- You can turn in the payroll deduction form and employer form (if applicable) to your payroll department or directly to Southern Security. We’ll return both forms to your employer after making necessary changes to how your account receives your payroll. We’ll also be sure the correct routing information is on your company’s form.