Aim  to Improve Your Financial Life:  Start your PAYROLL  DEDUCTION

1. Thanks so much for wanting to set up an automatic deposit to your savings account with us.  It’s a good way to build up savings quickly:  “out of sight, out of mind.”  Automatic deposits also help our savings co-op grow.

            To get things rolling, here’s all you do:

  • Read these instructions.
  • Click on Attn: Payroll Department.  Forward that information to the person, department, or organization that will start your electronic deposit. 

   

  • If you want us to place the funds we receive on your behalf in your main savings account here and leave them here until you’re ready to withdraw them, you need do nothing more.

 

  • If  you prefer that we credit some or all of your automatic deposit to a loan or an additional savings account, please click on ACH Transfer Instructions. Print them out, complete, sign with your full, legal signature, in dark ink.  Then, either copy the form and mail the original to Cal Feminist FCU ~ PO Box 16587 ~ San Diego CA 92176  or  fax it to the number on the form.

 

2. Helpful Hints:

·         Because we have no cash, no ATMs, short hours, only one location, and a limit of 2 withdrawals per account per month, you will need to keep funds you may need for emergencies and regular living expenses elsewhere.

 

·         We strongly recommend that you begin with  small  electronic deposits and gradually work up to larger ones.

 

·         If your electronic funds will make payments on a Cal Feminist loan, you have this option:  out of a deposit of, say, $250, you may have us pay $200 on your loan and leave the other $50 in your savings.  After 4 months your share balance will be equal to one extra payment.  Even if your income is interrupted or your electronic deposit is delayed, you’ll still have enough in savings to enable us to transfer your payment. 

 

·         We receive electronic deposits; we do not initiate them.  Please ask your employer, government agency, or checking institution to set up the electronic deposit or bill-pay for your account here.  We cannot.

 

·        Please take advantage of our free articles and worksheets to help you do an even better job of managing your spending and saving.  For a list of “Freebies,” click on Financial Education look at the Membership Application (even if you’re already a member).

           

Please contact us if you have questions.  Thanks again for your support of our savings and lending cooperative.

                                                                                                                                                                                                

*For current fees, click on Truth-In-Savings Disclosure