National Direct Deposit and Direct Payment Month

02-CU-06 / April 2002
National Direct Deposit and Direct Payment Month
Federally Insured Credit Unions
Federally Insured Credit Unions
National Direct Deposit and Direct Payment Month

Dear Manager and Board of Directors:

The National Credit Union Administration, Department of Treasury (Treasury), and other government agencies have joined together to increase the awareness and use of Direct Deposit and Direct Payment. Treasury has designated the month of May as National Direct Deposit and Direct Payment Month.

The recent terrorist attacks and safety issues related to federal (e.g., tax return, social security, veteran benefits, and rail road retirement benefits) checks delivered through the U.S. mail have caused many Americans to consider the benefits of Direct Deposit. Your credit union can contribute to a more efficient payment system and to an effort in providing services to persons lacking either a checking or savings account by promoting the use of Direct Deposit. Treasury proposes that the following items or activities will provide for an enhanced promotion effort:

  1. Conduct lobby promotions during May, and consider special promotions on May 1, 2, 3, and 31 and June 3, 2002, to encourage the use of Direct Deposits.
  2. Obtain Direct Deposit statement stuffers. If you are a member of a regional payments association, please contact your association to order free Direct Deposit statement stuffers from the Social Security Administration.
  3. Join forces with community organizations in your area to set up information tables at local senior and community centers, churches and veteran halls, and provide information on how to sign up for Direct Deposit. (You will be leaving and accessing a non-NCUA website. We encourage you to read the NCUA's exit link policies. (opens new page).) .



Dennis Dollar



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