With new technology evolving every year, the landscape of finance is evolving as well. At Goldenwest Credit Union, we do our best to make sure we are operating through the latest technologies to keep your financial experiences safe, secure, and simple. One of the ways we can do this is through direct deposit, a fast and easy way to have funds deposited straight into your account with no hassle on your part. The best part is, direct deposit is more secure and faster than traditional check deposits.

What is it?

• Direct deposit is an electronic transfer of a payment directly into the account of the recipient.

How does it work?

• Your money will be more secure when you use direct deposit because the money will be transferred directly into your account. This eliminates the risk of a payment check being lost or stolen, as less people are involved in the process.
• When you have direct deposit set up for a specific day, that money becomes available immediately that morning.
• You can rely on your money being deposited quickly and confidentially through direct deposit.
• If you happen to be ill, on vacation, or otherwise unavailable, you can depend on the convenience of direct deposit to still have those funds available to you in your account.

How do I set it up?

PAYCHECKS:

• Talk to your employer about setting up direct deposit. They will help you fill out the proper forms in order to have your regular paycheck deposited into your credit union account. You can also get these forms from your local Goldenwest Credit Union or print the Direct Deposit form from home. Then fill out the form, and take them in to your employer. They will require your account number and routing number, both of which are available on the bottom of your checks.

FEDERAL BENEFIT CHECKS:

• You can get your federal benefit checks, such as Social Security checks, deposited directly into your account as well. Ask an employee at your local Goldenwest branch how to set up direct deposits for your regular federal payment.
o You can also go to https://www.godirect.gov/gpw/ to set up your direct deposit.
o For Spanish, visit https://www.godirect.gov/gpw/?language=es

FEDERAL TAX REFUND:

• Since we are in the middle of tax season, it is worth noting that you can also get your federal tax refund through direct deposit. Using this method, the IRS will be able to get your refund back to you much more quickly. Fill out the information needed on tax form 1040 in the section labeled “Refund” to receive your refund via direct deposit.