• Easy To Set-Up: To activate direct deposit, inform your employer and fill out a direct deposit form. You will need your credit union account number, routing number and a voided check of the account in which you intend to receive the payment.
• Fast And Convenient: With direct deposit, you are not required to wait in lines to deposit or cash a pay check. Your money is easily deposited to your account even when you are away on a business trip or vacation.
• Good For The Environment: Direct deposit is environment-friendly as there is no paper involved.
• More Secure: Direct deposit is a safe and confidential method of receiving payments. It reduces the chance of anyone sneak-peeking into your financial information as the funds are transferred discreetly into your account. Also, it eliminates the chance of your pay check being lost or stolen.
• Digital Storage Of Financial Information: Online modes of payment like direct deposit have eliminated the need to keep a tab on your payroll history. You can easily access your financial information as it is digitally saved.
• Facilitates Savings: Direct deposit makes you better at budgeting and saving. You can split the incoming payments between your checking, saving & retirement account. This set-up encourages savings. Also, it gives you time to pause and reflect on the expenses for a better budgeting.
• Automatic Bill Payments: As you know when the payment will be directly deposited in your account, you can schedule automatic bill payments accordingly to avoid the hassle of remembering due dates.
• Saves Costs And Energy: A lot of time and expenses are saved by relying on direct deposit for making payments. Preparing payrolls involves writing, signing, folding, delivering checks and expenses incurred on envelopes and checks. Sometimes checks have to be re-issued if lost or stolen. Direct deposits reduce such costs and channelize the energy of human resources towards more productive tasks.
• Flexibility: Direct deposit is not just limited to pay checks but can also be used for expense reimbursements, unemployment benefits, receiving income tax returns, travel and cash advances, etc.

Joining a credit union is one of the best decisions anyone can ever make, and if you haven’t joint one yet, it is high time you did! After all, credit unions are among the few financial institutions in the modern world that function on a “users’ first” and “not-for-profit” model. While the principle aim of commercial banks remains to enrich their shareholders, credit unions aim at helping their members. The following list enumerates some of the top reasons to join a credit union-

• Better interest rates- Credit unions offer the best available interest rates, making them a great option for anyone seeking a cheap auto loan.
• Increased chances of loan approval- If you are looking to get a personal loan, the chances of you getting approved at a credit union are higher than at other financial institutions. This is because credit unions usually know profiles of most of their members, and hence can take non-financial factors into account.
• Personalized attention- While you are just an account number at a huge bank, you are treated as an individual at a credit union. This makes it easier to build relationships with the credit union staff, speeds up the process of getting a loan, and makes tackling issues like erroneous fees a lot more convenient.
• Lower fees- Right from minimum balance required in your account and compulsory monthly financial interactions, to ATM withdrawal, the fees imposed by banks can be huge. Credit unions on the other hand, have a lot more flexible terms, and whenever necessary charge minimal fees.
• Easier availability- Credit unions are a lot more accessible than most banks. You can find a credit union in nearly every neighborhood, and some of these have special opening hours, such as evenings or Sundays, for the convenience of their customers. It is also a lot easier to reach a credit union employee over the phone, as compared to a huge bank.
• Education for members- Credit unions makes an effort to educate their members through regular seminars, personalized financial counseling, and meetings for members. For instance, if you are a youngster looking for the lowest used car loan, not only are you likely to get the best deal for your needs and budget at a credit union, but you can also expect to get the right financial advice on whether you are ready for the loan, and how to manage your finances around it.