Direct Deposit & Payroll Deduction

Direct Deposit

Managing money is easier when your net paycheck, Social Security, or pension check is automatically deposited into your Share Draft Checking or Share Savings Account with Direct Deposit. Your money is available immediately, safe, and in compliance with government regulations, whether you are on vacation, at a meeting, or sick in bed.

Direct Deposit puts your money where you want it. Simply give the routing information and your account number to your employer or the party or parties that will be transferring your funds.

With Direct Deposit:

  • Your money is available immediately. Your money is deposited in your account and is ready and waiting for you at your convenience. No more driving to the credit union or waiting in teller lines.
  • Your money is safe. You don't have to carry your check or large sums of cash around with you. It is deposited and ready for you.
  • You comply with government regulations. Federal payments are now issued by electronic funds transfer (EFT), also known as Direct Deposit. If you will be receiving veteran's benefits, Social Security, military pensions or salaries, or any other government payment, you'll need Direct Deposit. Check with the agency that issues your check to see what requirements you need to meet (there are some special circumstances that do not require Direct Deposit).

Payroll Deduction

Make loan payments automatically, make deposits to your savings accounts, build your IRA, all with Payroll Deduction.

Whether it's your Auto Loan, Home Equity Loan, Personal Loan, or any other credit union loan, paying is "painless" and easy. One Payroll Deduction Card allows you to have your payroll allocated where you want it to go. Simply give the payroll department your routing information.

Guarantee "no excuses" savings and loan payments, too!

You can budget to different savings accounts, such as taxes, tuition, vacation, insurance, etc. You can even have your credit union loans paid weekly and save on finance charges!

Simply designate the amounts of weekly or semi-monthly payments that you want deducted from your directly deposited paycheck, and your payments are made. No late charges. No running to the mailbox. No hassle.

And your IRA financial planning is easier with the automatic Payroll Deduction option at Atlantic City Electric Company Employees Federal Credit Union.

A really convenient money management team.

Combine Payroll Deduction with Direct Deposit and Share Draft/Checking.

Payroll deduction forms may be obtained from the credit union office.