How do payroll deduction and direct deposit work?
Rather than manually depositing every paycheck and deciding how to invest or spend it then and there, direct deposit and payroll deduction allow you to make those decisions once and simplify your deposits.
Simplify and save time
Tired of deciding how to divide your paycheck every month? Save headaches with payroll deduction. Figure out what works for you best, and at your request we will send select amounts from your direct deposit to your Life CU accounts, loan repayments, investments, or money market accounts. Set it and forget it. Simple!
Tired of standing in lines? Save time by setting up direct deposit. Sign up once and your paycheck will be automatically deposited into your Life CU checking account.
- Stress reducing: take items off your to-do list
- Fast: get access to your paycheck immediately
- Secure: no need to worry about checks getting lost or stolen
Frequently Asked Questions
Payroll deduction can be used for repayment of loans, deposits to money market accounts, and investments.
Direct deposit is available for paychecks, pension checks, social security, and other federal payments.
Direct Deposit is setup through your employer. But, we can help. Contact us to get started today.Contact Us