Financial planners tell us that making regular deposits to savings is the best way to building for the future.But sometimes it can be hard to find the money to put away into savings. Or to remember to make the deposit. That's where Direct Deposit can help you save for anything—the down payment on a home or car, for a vacation, a child's education, retirement—anything!
The magic of convenience
With Direct Deposit, your paycheck is put right into your ENY FCU account. That saves you a trip to the branch, so it's convenient. Direct Deposit also gets your money into your account quicker than a paper check. Plus, since the deposit happens electronically, you never have a paper check to lose or forget to deposit. On vacation, sick, or you have a day off on payday? With Direct Deposit, your check gets into your account on payday whether you're there to receive it or not.
The magic of regular savings
The real magic happens when you use Payroll Deduction to automatically build your savings every paycheck.
Payroll Deduction lets you send part of every paycheck to whichever of your ENY FCU accounts you choose. So, let's say you want most of your paycheck to go to your checking account for groceries and monthly bills, but you REALLY want to save for that vacation next summer. Simple! Just figure out how much you need to save, divide by the number of paychecks before the vacation, and have Payroll Deduction send that amount automatically put into your Money Market or Savings account. By the time vacation time comes, you'll have the money in hand...and won't have to borrow for it!
Want to save for a long-term goal like retirement or a child's education? Decide on an amount to save every paycheck, and set up Payroll Deduction to put a portion of every paycheck into your Money Market or Savings account. Since the money never gets to your checking account, you won't be tempted to spend it. Then, every quarter when you see your savings account statements, you'll have a good feeling seeing how fast your savings are growing. Almost like magic! .
Direct Deposit is easy
Signing up for Direct Deposit is easy. Just visit our branch or your HR department and get a simple form. You'll be asked how much of the money you want depositedinto which of your accounts.
Call us today, or visit any of our 4 convenient branches.
