Direct Deposit

Direct Deposit is a safe, easy and reliable way to deposit your paycheck. With Direct Deposit you can avoid having to go to a branch to cash your paycheck.

The way it works is that your employer deposits your salary directly in your account and you receive a stub with all the information about hours worked and salary. Your money is safe and starts earning interest right away.

Most employers can request direct deposit. Your employer will need the name of the financial institution, routing number (ABA), your account number, and your signature. Please contact the credit union and your employer for more information.

Direct Deposit is the most widely used electronic payment in the United States. As many as 145 million Americans use Direct Deposit to receive their pay or government benefits.

No risk - Your deposits are insured up to a maximum of $100,000, through the National Credit Union Administration (NCUA), a U.S. government agency.

What do I need to use Direct deposit?

To use Latino Community Credit Union’s services you must first become a member.

To become a member, you will need to:

• Present a government issued photo identification card from any country
• Open a savings account with the minimum deposit
• Become a member of the Latino Community Development Center, a non-profit organization whose mission is to provide financial education to the Latino community.

The Checking Account earns interest, so you will need a Social Security Number (SSN) or an Individual Tax Identification Number (ITIN) to pay taxes in the United States. If you don’t have an ITIN, you can open a temporary account while you apply for an ITIN. Any of our representatives can help you apply for an ITIN.

You can get a direct deposit form at any of our branches. This form needs to be given to your employer.

What are the advantages of Direct Deposit?

• Reliable - Millions of people use this service in the United States. Payments are made on time and you can use your money right away.
• Safe - There is no risk of your money being stolen or lost.
• Convenient - You will no longer have to wait in line to deposit or cash your paycheck.
• Automatic - Even if you are sick, on vacation or traveling, you will automatically receive your money.
• Confidential - There is no visible check and no one can see how much you earn.
• Environmentally friendly - By not using paper you help protect our forests.

Please contact the Credit Union and your place of employment to obtain more detailed information.