Don't Delay, Go Direct!

Last year alone, more than 440,000 Social Security and Supplemental Security Income checks were reported lost or stolen and had to be reissued. Despite the risks, millions of senior citizens, people with disabilities and other federal benefit recipients still receive their payments by paper check.  That will soon change; however, as the U.S. Department of Treasury will halt the issuance of paper checks for federal benefits like Social Security in the spring of 2013. 

According to the Treasury, all federal benefits and non-tax payments will be paid electronically by March, 1, 2013.  The Treasury continues to work tirelessly through its Go Direct campaign to ensure the public is aware and takes action - switching to direct deposit before the deadline. 

Walt Henderson, director of Electronic Funds Transfer (EFT) Strategy Division at the U.S. Department of the Treasury, will be our special guest on the Nov. 27 episode of Your Money, Matters. He will share with listeners why the Treasury is making this push for direct deposit, as well as examine the cost-savings benefits of direct deposit.  

TCUL’s Your Money. Your Matters is a weekly show broadcasting every Tuesday from 11 a.m. to noon CDT.  The show features radio personalities Linda Webb-Mañon and Rick Grady of TCUL; Texas Credit Union Foundation’s Courtney Moran, and Todd Mark, Consumer Credit Counseling Services.

Each week, Your Money. Your Matters addresses financial issues of most importance to consumers.  Tune in; share your thoughts; or gain helpful advice.